MUFG Americas Holdings Corp trimmed its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 3.2% during the third quarter, Holdings Channel reports. The institutional investor owned 25,102 shares of the information technology service provider’s stock after selling 819 shares during the period. MUFG Americas Holdings Corp’s holdings in Cognizant Technology Solutions were worth $1,513,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. BlackRock Inc. boosted its stake in Cognizant Technology Solutions by 3.7% in the 2nd quarter. BlackRock Inc. now owns 48,909,575 shares of the information technology service provider’s stock worth $3,100,379,000 after buying an additional 1,756,108 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Cognizant Technology Solutions by 354.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 10,652,397 shares of the information technology service provider’s stock worth $675,256,000 after buying an additional 8,307,253 shares during the last quarter. Generation Investment Management LLP acquired a new stake in Cognizant Technology Solutions in the 2nd quarter worth about $662,915,000. Comgest Global Investors S.A.S. boosted its stake in Cognizant Technology Solutions by 11.3% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 8,985,214 shares of the information technology service provider’s stock worth $569,573,000 after buying an additional 915,000 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Cognizant Technology Solutions by 0.9% in the 2nd quarter. Northern Trust Corp now owns 7,727,422 shares of the information technology service provider’s stock worth $489,842,000 after buying an additional 71,620 shares during the last quarter. 90.96% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Allen Shaheen sold 1,091 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $62.14, for a total transaction of $67,794.74. Following the completion of the transaction, the executive vice president now owns 2,010 shares in the company, valued at approximately $124,901.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John E. Klein sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $61.13, for a total value of $611,300.00. Following the transaction, the director now owns 459,987 shares of the company’s stock, valued at approximately $28,119,005.31. The disclosure for this sale can be found here. Insiders sold a total of 18,823 shares of company stock valued at $1,169,337 over the last quarter. Company insiders own 0.56% of the company’s stock.
Shares of NASDAQ:CTSH traded up $0.27 during mid-day trading on Friday, hitting $63.38. 2,550,200 shares of the company traded hands, compared to its average volume of 2,873,564. Cognizant Technology Solutions Corp has a 52-week low of $56.73 and a 52-week high of $74.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.53 and a current ratio of 2.53. The firm has a market cap of $34.23 billion, a P/E ratio of 15.77, a PEG ratio of 1.43 and a beta of 1.05. The firm’s 50 day simple moving average is $60.89 and its 200 day simple moving average is $62.44.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.03. Cognizant Technology Solutions had a return on equity of 20.23% and a net margin of 12.60%. The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the business earned $1.05 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts expect that Cognizant Technology Solutions Corp will post 3.97 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 19th will be issued a $0.20 dividend. The ex-dividend date is Monday, November 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 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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