Guinness Atkinson Asset Management Inc Purchases 11,000 Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Guinness Atkinson Asset Management Inc raised its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 13.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,180 shares of the information technology service provider’s stock after purchasing an additional 11,000 shares during the quarter. Cognizant Technology Solutions accounts for about 4.2% of Guinness Atkinson Asset Management Inc’s holdings, making the stock its 14th biggest holding. Guinness Atkinson Asset Management Inc’s holdings in Cognizant Technology Solutions were worth $5,717,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. raised its position in Cognizant Technology Solutions by 4.7% in the first quarter. BlackRock Inc. now owns 47,153,467 shares of the information technology service provider’s stock valued at $3,416,269,000 after purchasing an additional 2,129,464 shares during the last quarter. FMR LLC raised its position in shares of Cognizant Technology Solutions by 21.9% during the first quarter. FMR LLC now owns 15,767,608 shares of the information technology service provider’s stock worth $1,142,362,000 after acquiring an additional 2,827,833 shares during the last quarter. Northern Trust Corp raised its position in shares of Cognizant Technology Solutions by 3.4% during the first quarter. Northern Trust Corp now owns 7,655,802 shares of the information technology service provider’s stock worth $554,663,000 after acquiring an additional 252,685 shares during the last quarter. Pzena Investment Management LLC raised its position in shares of Cognizant Technology Solutions by 0.4% during the first quarter. Pzena Investment Management LLC now owns 7,636,219 shares of the information technology service provider’s stock worth $553,244,000 after acquiring an additional 29,090 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Cognizant Technology Solutions by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 7,217,002 shares of the information technology service provider’s stock worth $457,298,000 after acquiring an additional 482,575 shares during the last quarter. Hedge funds and other institutional investors own 88.80% of the company’s stock.

NASDAQ CTSH traded up $0.18 during trading hours on Tuesday, hitting $62.22. 1,809,003 shares of the company’s stock were exchanged, compared to its average volume of 3,434,950. The firm has a 50-day moving average of $64.67. Cognizant Technology Solutions Corp has a 1-year low of $56.73 and a 1-year high of $78.83. The stock has a market cap of $35.32 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.13.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.93 by $0.01. Cognizant Technology Solutions had a return on equity of 20.52% and a net margin of 12.61%. The business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter last year, the firm posted $1.05 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts forecast that Cognizant Technology Solutions Corp will post 3.95 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 22nd will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, August 21st. This represents a $0.80 annualized dividend and a yield of 1.29%. Cognizant Technology Solutions’s dividend payout ratio is currently 19.90%.

In other Cognizant Technology Solutions news, EVP Allen Shaheen sold 1,369 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $60.16, for a total value of $82,359.04. Following the completion of the sale, the executive vice president now owns 3,073 shares of the company’s stock, valued at $184,871.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Robert Telesmanic sold 2,484 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $65.00, for a total value of $161,460.00. Following the completion of the sale, the senior vice president now directly owns 7,337 shares of the company’s stock, valued at approximately $476,905. The disclosure for this sale can be found here. Insiders have sold 47,120 shares of company stock valued at $2,960,866 in the last ninety days. 0.56% of the stock is currently owned by insiders.

A number of brokerages have recently issued reports on CTSH. Argus downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. HSBC downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $72.00 to $70.00 in a research report on Tuesday, July 23rd. Morgan Stanley set a $64.00 price objective on Cognizant Technology Solutions and gave the stock a “sell” rating in a research report on Friday, May 3rd. Needham & Company LLC downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, ValuEngine upgraded Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $74.48.

Cognizant Technology Solutions Company Profile

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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