Tesco Pension Investment Ltd Maintains Position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Tesco Pension Investment Ltd maintained its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 880,709 shares of the information technology service provider’s stock at the end of the second quarter. Cognizant Technology Solutions Corporation comprises approximately 1.7% of Tesco Pension Investment Ltd’s investment portfolio, making the stock its 23rd largest position. Tesco Pension Investment Ltd owned about 0.15% of Cognizant Technology Solutions Corporation worth $58,479,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Moreno Evelyn V raised its stake in Cognizant Technology Solutions Corporation by 15.7% in the first quarter. Moreno Evelyn V now owns 136,275 shares of the information technology service provider’s stock valued at $8,111,000 after buying an additional 18,540 shares during the last quarter. CENTRAL TRUST Co raised its stake in Cognizant Technology Solutions Corporation by 13.8% in the first quarter. CENTRAL TRUST Co now owns 6,368 shares of the information technology service provider’s stock valued at $379,000 after buying an additional 770 shares during the last quarter. Pensionfund DSM Netherlands raised its stake in Cognizant Technology Solutions Corporation by 3.3% in the first quarter. Pensionfund DSM Netherlands now owns 62,400 shares of the information technology service provider’s stock valued at $3,714,000 after buying an additional 2,000 shares during the last quarter. Private Advisor Group LLC raised its stake in Cognizant Technology Solutions Corporation by 173.9% in the first quarter. Private Advisor Group LLC now owns 30,271 shares of the information technology service provider’s stock valued at $1,219,000 after buying an additional 19,218 shares during the last quarter. Finally, Regentatlantic Capital LLC raised its stake in Cognizant Technology Solutions Corporation by 7.9% in the first quarter. Regentatlantic Capital LLC now owns 11,718 shares of the information technology service provider’s stock valued at $697,000 after buying an additional 861 shares during the last quarter. 88.68% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Corporation (CTSH) traded down 0.24% during mid-day trading on Friday, hitting $70.07. 2,636,572 shares of the stock traded hands. The company has a market cap of $41.38 billion, a price-to-earnings ratio of 22.48 and a beta of 1.17. The firm’s 50-day moving average is $69.29 and its 200-day moving average is $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 announced its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 earnings per share. Equities research analysts expect 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. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, August 18th. Cognizant Technology Solutions Corporation’s payout ratio is currently 19.17%.

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CTSH has been the topic of several recent research reports. Vetr lowered shares of Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating and set a $67.50 price target on the stock. in a report on Monday, May 1st. Needham & Company LLC upped their price target on shares of Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, May 15th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, May 31st. HSBC Holdings plc lowered shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and upped their price target for the company from $65.00 to $68.00 in a report on Thursday, June 8th. Finally, Pacific Crest reiterated an “overweight” rating and issued a $75.00 price objective (up previously from $73.00) on shares of Cognizant Technology Solutions Corporation in a research report on Thursday, June 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $70.02.

In other 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 completion of the transaction, the director now owns 482,880 shares of the company’s stock, valued at $34,699,756.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Gajakarnan Vibushanan Kandiah sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $66.00, for a total transaction of $99,000.00. Following the completion of the transaction, the insider now directly owns 10,515 shares of the company’s stock, valued at approximately $693,990. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,222 shares of company stock valued at $6,326,183. 1.08% of the stock is currently owned by company insiders.

Cognizant Technology Solutions Corporation Company Profile

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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