Cognizant Technology Solutions Co. (NASDAQ:CTSH) is Genesis Investment Management LLP’s 5th Largest Position

Genesis Investment Management LLP cut its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 74.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,047 shares of the information technology service provider’s stock after selling 264,190 shares during the quarter. Cognizant Technology Solutions comprises approximately 7.9% of Genesis Investment Management LLP’s investment portfolio, making the stock its 5th biggest holding. Genesis Investment Management LLP’s holdings in Cognizant Technology Solutions were worth $7,155,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Addison Advisors LLC raised its position in Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after buying an additional 189 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Cognizant Technology Solutions in the third quarter worth $30,000. Trust Co. of Vermont raised its holdings in shares of Cognizant Technology Solutions by 188.4% during the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 292 shares during the last quarter. Pinnacle Bancorp Inc. lifted its position in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after purchasing an additional 146 shares during the period. Finally, Benjamin Edwards Inc. boosted its holdings in Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 158 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $77.81 on Tuesday. Cognizant Technology Solutions Co. has a 1 year low of $63.79 and a 1 year high of $82.46. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The firm has a market capitalization of $38.58 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. The business has a 50 day simple moving average of $78.93 and a 200-day simple moving average of $76.57.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the prior year, the business earned $1.16 EPS. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.54%. Cognizant Technology Solutions’s payout ratio is 26.55%.

Insider Activity

In related news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the sale, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

CTSH has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Barclays raised Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $80.00 to $95.00 in a report on Tuesday, December 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Robert W. Baird boosted their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, StockNews.com lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Fifteen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $81.19.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.