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.
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.
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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.
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