Cognizant Technology Solutions Corporation (CTSH) Shares Bought by AKO Capital LLP

AKO Capital LLP boosted its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 31.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 713,337 shares of the information technology service provider’s stock after buying an additional 169,280 shares during the period. Cognizant Technology Solutions Corporation comprises about 4.2% of AKO Capital LLP’s portfolio, making the stock its 10th largest position. AKO Capital LLP owned approximately 0.12% of Cognizant Technology Solutions Corporation worth $47,366,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. raised its position in Cognizant Technology Solutions Corporation by 3,470.1% in the first quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock worth $2,425,316,000 after buying an additional 39,606,526 shares during the period. Vanguard Group Inc. raised its position in Cognizant Technology Solutions Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 40,545,109 shares of the information technology service provider’s stock worth $2,413,246,000 after buying an additional 1,379,271 shares during the period. State Street Corp raised its position in Cognizant Technology Solutions Corporation by 1.8% in the first quarter. State Street Corp now owns 24,267,262 shares of the information technology service provider’s stock worth $1,444,391,000 after buying an additional 435,142 shares during the period. Edgewood Management LLC raised its position in Cognizant Technology Solutions Corporation by 3.9% in the first quarter. Edgewood Management LLC now owns 14,706,635 shares of the information technology service provider’s stock worth $875,339,000 after buying an additional 557,035 shares during the period. Finally, FMR LLC raised its position in Cognizant Technology Solutions Corporation by 2.3% in the first quarter. FMR LLC now owns 13,803,392 shares of the information technology service provider’s stock worth $821,576,000 after buying an additional 314,137 shares during the period. Institutional investors own 88.68% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded down 0.24% during midday trading on Friday, hitting $70.07. 2,636,572 shares of the stock were exchanged. The company has a market cap of $41.38 billion, a PE ratio of 22.48 and a beta of 1.17. The firm has a 50-day moving average price of $69.29 and a 200-day moving average price of $63.21. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $72.07.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the previous year, the firm earned $0.87 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities analysts predict that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.86%. Cognizant Technology Solutions Corporation’s payout ratio is currently 19.17%.

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A number of research firms have weighed in on CTSH. Zacks Investment Research lowered shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $78.00 price target (up previously from $72.00) on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, August 9th. Loop Capital raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and lifted their price target for the company from $63.00 to $83.00 in a research report on Friday, August 4th. Credit Suisse Group set a $80.00 price target on shares of Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $76.00 price target (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $70.02.

In related news, Director John E. Klein sold 11,560 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $71.86, for a total value of $830,701.60. Following the sale, the director now directly owns 482,880 shares in the company, valued at approximately $34,699,756.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Venkat Krishnaswamy sold 8,151 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $70.93, for a total transaction of $578,150.43. Following the completion of the transaction, the insider now directly owns 9,429 shares in the company, valued at $668,798.97. The disclosure for this sale can be found here. Insiders sold a total of 91,222 shares of company stock worth $6,326,183 over the last quarter. Insiders own 1.08% of the company’s stock.

About Cognizant Technology Solutions Corporation

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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

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