Fmr LLC Purchases 3,632,452 Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH)

FMR LLC boosted its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 39.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,939,775 shares of the information technology service provider’s stock after buying an additional 3,632,452 shares during the period. FMR LLC owned approximately 2.23% of Cognizant Technology Solutions worth $821,416,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Acima Private Wealth LLC bought a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $29,000. Sontag Advisory LLC bought a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $30,000. Citizens Financial Group Inc RI increased its position in Cognizant Technology Solutions by 176.5% in the 4th quarter. Citizens Financial Group Inc RI now owns 611 shares of the information technology service provider’s stock worth $39,000 after buying an additional 390 shares during the period. Kistler Tiffany Companies LLC increased its position in Cognizant Technology Solutions by 133.5% in the 4th quarter. Kistler Tiffany Companies LLC now owns 642 shares of the information technology service provider’s stock worth $41,000 after buying an additional 367 shares during the period. Finally, Capital Investment Advisory Services LLC bought a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $43,000. 88.68% of the stock is currently owned by institutional investors.

CTSH stock traded down $0.81 during trading on Friday, hitting $71.34. The company had a trading volume of 5,469,565 shares, compared to its average volume of 2,801,791. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.12 and a quick ratio of 3.12. The firm has a market cap of $41.03 billion, a price-to-earnings ratio of 17.75, a P/E/G ratio of 1.59 and a beta of 0.97. Cognizant Technology Solutions Corp has a fifty-two week low of $59.47 and a fifty-two week high of $83.35.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, February 6th. The information technology service provider reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.07. The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.11 billion. Cognizant Technology Solutions had a return on equity of 22.15% and a net margin of 13.03%. Cognizant Technology Solutions’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 EPS. On average, research analysts anticipate that Cognizant Technology Solutions Corp will post 4.44 earnings per share for the current year.

A number of research firms have recently issued reports on CTSH. BMO Capital Markets boosted their price objective on Cognizant Technology Solutions to $80.00 and gave the company a “market perform” rating in a research report on Monday, February 4th. Zacks Investment Research upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research report on Monday, April 8th. KeyCorp boosted their price objective on Cognizant Technology Solutions from $79.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, February 7th. Sanford C. Bernstein upgraded Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Friday, January 25th. Finally, BidaskClub cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Saturday, February 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $80.29.

In related news, insider Gajakarnan Vibushanan Kandiah sold 1,208 shares of the business’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $71.23, for a total value of $86,045.84. Following the sale, the insider now owns 13,963 shares of the company’s stock, valued at approximately $994,584.49. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Allen Shaheen sold 396 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $73.80, for a total value of $29,224.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,330 shares of company stock worth $3,554,217. 0.60% of the stock is owned by insiders.

ILLEGAL ACTIVITY NOTICE: This piece was reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. and international copyright & trademark law. The legal version of this piece can be viewed at https://www.baseballdailydigest.com/news/2019/04/21/fmr-llc-acquires-3632452-shares-of-cognizant-technology-solutions-corp-ctsh.html.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

See Also: How Does the Quiet Period Work?

Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.