Baader Bank Aktiengesellschaft Raises Stock Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Baader Bank Aktiengesellschaft increased its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 287.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,606 shares of the information technology service provider's stock after acquiring an additional 9,349 shares during the period. Baader Bank Aktiengesellschaft's holdings in Cognizant Technology Solutions were worth $969,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Addison Advisors LLC grew its position in Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider's stock worth $26,000 after acquiring an additional 189 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Cognizant Technology Solutions in the third quarter worth $30,000. Trust Co. of Vermont grew its position in Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock worth $34,000 after acquiring an additional 292 shares in the last quarter. Pinnacle Bancorp Inc. boosted its position in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider's stock valued at $35,000 after buying an additional 146 shares during the period. Finally, Eastern Bank purchased a new stake in Cognizant Technology Solutions during the third quarter valued at about $37,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTSH has been the subject of several analyst reports. StockNews.com lowered shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Barclays upgraded shares of Cognizant Technology Solutions from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $80.00 to $95.00 in a research report on Tuesday, December 17th. TD Cowen upped their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a "hold" rating in a research report on Thursday, October 31st. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Finally, Robert W. Baird upped their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Fifteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of "Hold" and a consensus price target of $81.19.

Cognizant Technology Solutions Trading Up 2.2 %

CTSH stock traded up $1.82 during trading on Thursday, reaching $83.01. The company had a trading volume of 1,744,594 shares, compared to its average volume of 2,552,592. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $83.47. The business has a 50 day moving average of $79.01 and a 200 day moving average of $77.14. The company has a market cap of $41.16 billion, a P/E ratio of 18.36, a PEG ratio of 2.06 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The business's revenue for the quarter was up 3.0% on a year-over-year basis. As a group, sell-side analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the sale, the chief accounting officer now owns 39,022 shares of the company's stock, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company's stock.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.