Sandy Spring Bank Has $2 Million Stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Sandy Spring Bank grew its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 5.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,626 shares of the information technology service provider’s stock after purchasing an additional 1,680 shares during the quarter. Sandy Spring Bank’s holdings in Cognizant Technology Solutions were worth $2,004,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. State of Tennessee Treasury Department boosted its stake in shares of Cognizant Technology Solutions by 54.0% in the first quarter. State of Tennessee Treasury Department now owns 231,079 shares of the information technology service provider’s stock valued at $16,742,000 after buying an additional 81,027 shares during the period. Signition LP bought a new stake in shares of Cognizant Technology Solutions in the first quarter valued at approximately $593,000. FMR LLC boosted its stake in shares of Cognizant Technology Solutions by 21.9% in the first quarter. FMR LLC now owns 15,767,608 shares of the information technology service provider’s stock valued at $1,142,362,000 after buying an additional 2,827,833 shares during the period. Exane Derivatives boosted its stake in shares of Cognizant Technology Solutions by 16,331.5% in the first quarter. Exane Derivatives now owns 29,248 shares of the information technology service provider’s stock valued at $2,118,000 after buying an additional 29,070 shares during the period. Finally, Motco boosted its stake in shares of Cognizant Technology Solutions by 5.9% in the first quarter. Motco now owns 68,773 shares of the information technology service provider’s stock valued at $4,982,000 after buying an additional 3,857 shares during the period. 88.41% of the stock is currently owned by institutional investors.

In other news, SVP Robert Telesmanic sold 2,484 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $65.00, for a total value of $161,460.00. Following the completion of the transaction, the senior vice president now directly owns 7,337 shares in the company, valued at approximately $476,905. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Humphries purchased 19,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was purchased at an average price of $61.09 per share, with a total value of $1,160,710.00. Following the completion of the purchase, the chief executive officer now directly owns 19,000 shares in the company, valued at approximately $1,160,710. The disclosure for this purchase can be found here. Insiders have sold 47,120 shares of company stock valued at $2,960,866 over the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Several equities research analysts recently issued reports on the company. Argus cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. JPMorgan Chase & Co. cut Cognizant Technology Solutions from a “neutral” rating to an “underweight” rating and cut their price target for the company from $83.00 to $65.00 in a research note on Friday, May 3rd. BMO Capital Markets cut their price target on Cognizant Technology Solutions from $88.00 to $86.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Co set a $63.00 price target on Cognizant Technology Solutions and gave the company a “hold” rating in a research note on Friday, May 3rd. Finally, UBS Group cut Cognizant Technology Solutions from a “neutral” rating to a “sell” rating and cut their price target for the company from $62.00 to $60.00 in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Cognizant Technology Solutions has an average rating of “Hold” and an average target price of $74.48.

NASDAQ CTSH traded down $0.15 on Thursday, hitting $60.50. 59,063 shares of the company’s stock were exchanged, compared to its average volume of 3,491,923. The business has a 50-day moving average price of $64.35. 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 Corp has a 52 week low of $56.73 and a 52 week high of $78.59. The company has a market cap of $33.78 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 earnings per share 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 firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the prior year, the company earned $1.05 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, equities research analysts anticipate that Cognizant Technology Solutions Corp will post 3.96 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.32%. The ex-dividend date is Wednesday, August 21st. Cognizant Technology Solutions’s payout ratio is presently 19.90%.

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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