Hendershot Investments Inc. Acquires 3,318 Shares of Cognizant Technology Solutions Corp (CTSH)

Hendershot Investments Inc. increased its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 2.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 150,700 shares of the information technology service provider’s stock after purchasing an additional 3,318 shares during the quarter. Cognizant Technology Solutions accounts for 3.7% of Hendershot Investments Inc.’s holdings, making the stock its 5th biggest position. Hendershot Investments Inc.’s holdings in Cognizant Technology Solutions were worth $10,918,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $366,248,000. Davis R M Inc. grew its stake in shares of Cognizant Technology Solutions by 7.2% during the 4th quarter. Davis R M Inc. now owns 343,102 shares of the information technology service provider’s stock worth $21,780,000 after acquiring an additional 22,923 shares in the last quarter. Signition LP bought a new position in shares of Cognizant Technology Solutions during the 1st quarter worth approximately $593,000. Alpha Windward LLC grew its stake in shares of Cognizant Technology Solutions by 13.9% during the 4th quarter. Alpha Windward LLC now owns 2,099 shares of the information technology service provider’s stock worth $133,000 after acquiring an additional 256 shares in the last quarter. Finally, Naples Global Advisors LLC grew its stake in shares of Cognizant Technology Solutions by 14.7% during the 4th quarter. Naples Global Advisors LLC now owns 11,950 shares of the information technology service provider’s stock worth $774,000 after acquiring an additional 1,535 shares in the last quarter. 88.67% of the stock is owned by institutional investors and hedge funds.

Shares of Cognizant Technology Solutions stock opened at $59.44 on Friday. Cognizant Technology Solutions Corp has a 1 year low of $56.73 and a 1 year high of $83.35. The firm has a market cap of $33.84 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.48 and a beta of 0.95. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.90 and a quick ratio of 2.90.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.12). Cognizant Technology Solutions had a net margin of 12.39% and a return on equity of 21.50%. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same period in the prior year, the business earned $0.94 EPS. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, sell-side analysts forecast that Cognizant Technology Solutions Corp will post 3.91 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Tuesday, May 21st. Cognizant Technology Solutions’s dividend payout ratio is 19.90%.

Several equities research analysts have recently commented on the company. Zacks Investment Research raised Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a report on Thursday, February 28th. CIBC reissued a “market perform” rating on shares of Cognizant Technology Solutions in a report on Friday, May 3rd. Argus downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Wedbush downgraded Cognizant Technology Solutions from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $80.00 to $70.00 in a report on Friday, May 3rd. Finally, William Blair downgraded Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a report on Friday, May 3rd. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $75.55.

In other Cognizant Technology Solutions news, General Counsel Matthew W. Friedrich sold 2,877 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $71.71, for a total transaction of $206,309.67. Following the transaction, the general counsel now owns 800 shares in the company, valued at approximately $57,368. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Allen Shaheen sold 396 shares of the stock in a transaction on Monday, April 1st. The stock was 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. Insiders have sold a total of 44,477 shares of company stock valued at $3,201,495 in the last ninety days. Insiders own 0.56% of the company’s stock.

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

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