Cognizant Technology Solutions Co. (NASDAQ:CTSH) is Genesis Investment Management LLP's 5th Largest Position

Genesis Investment Management LLP cut its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 74.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,047 shares of the information technology service provider's stock after selling 264,190 shares during the period. Cognizant Technology Solutions makes up 7.9% of Genesis Investment Management LLP's holdings, making the stock its 5th largest position. Genesis Investment Management LLP's holdings in Cognizant Technology Solutions were worth $7,155,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Blair William & Co. IL lifted its position in Cognizant Technology Solutions by 6.2% during the second quarter. Blair William & Co. IL now owns 17,837 shares of the information technology service provider's stock valued at $1,213,000 after purchasing an additional 1,042 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Cognizant Technology Solutions by 16.3% in the 2nd quarter. Intech Investment Management LLC now owns 22,391 shares of the information technology service provider's stock valued at $1,523,000 after buying an additional 3,132 shares during the period. Ieq Capital LLC boosted its stake in shares of Cognizant Technology Solutions by 21.3% in the second quarter. Ieq Capital LLC now owns 26,613 shares of the information technology service provider's stock worth $1,810,000 after buying an additional 4,671 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Cognizant Technology Solutions by 23.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 31,833 shares of the information technology service provider's stock worth $2,165,000 after acquiring an additional 6,090 shares during the period. Finally, Benjamin Edwards Inc. raised its position in Cognizant Technology Solutions by 42.1% during the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider's stock valued at $36,000 after acquiring an additional 158 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

CTSH traded up $0.64 during trading on Tuesday, reaching $78.45. The company's stock had a trading volume of 3,384,610 shares, compared to its average volume of 2,790,101. The company has a market cap of $38.90 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 2.03 and a beta of 1.07. The firm has a fifty day simple moving average of $78.86 and a two-hundred day simple moving average of $76.64. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $82.46. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08.

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

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions's payout ratio is currently 26.55%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CTSH. Mizuho upped their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Robert W. Baird lifted their price objective on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Barclays raised shares of Cognizant Technology Solutions from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $80.00 to $95.00 in a research note on Tuesday, December 17th. TD Cowen increased their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a "hold" rating in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a "hold" rating in a research report on Tuesday, October 22nd. Fifteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Cognizant Technology Solutions presently has an average rating of "Hold" and an average target price of $81.19.

Insiders Place Their Bets

In related news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the sale, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is owned by insiders.

Cognizant Technology Solutions Company Profile

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.