Genesis Investment Management LLP Sells 29,325 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Genesis Investment Management LLP reduced its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 357,237 shares of the information technology service provider’s stock after selling 29,325 shares during the quarter. Cognizant Technology Solutions comprises 5.3% of Genesis Investment Management LLP’s investment portfolio, making the stock its 8th biggest holding. Genesis Investment Management LLP owned 0.07% of Cognizant Technology Solutions worth $27,572,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Brookstone Capital Management increased its holdings in Cognizant Technology Solutions by 26.3% in the 3rd quarter. Brookstone Capital Management now owns 4,576 shares of the information technology service provider’s stock valued at $353,000 after purchasing an additional 952 shares in the last quarter. Atomi Financial Group Inc. bought a new position in shares of Cognizant Technology Solutions during the third quarter worth about $264,000. Trium Capital LLP grew its position in shares of Cognizant Technology Solutions by 1.7% in the 3rd quarter. Trium Capital LLP now owns 56,430 shares of the information technology service provider’s stock worth $4,355,000 after acquiring an additional 928 shares in the last quarter. GAMMA Investing LLC increased its stake in Cognizant Technology Solutions by 47.3% during the third quarter. GAMMA Investing LLC now owns 8,822 shares of the information technology service provider’s stock valued at $681,000 after purchasing an additional 2,833 shares during the last quarter. Finally, Czech National Bank lifted its holdings in Cognizant Technology Solutions by 6.6% in the third quarter. Czech National Bank now owns 100,970 shares of the information technology service provider’s stock worth $7,793,000 after acquiring an additional 6,223 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the transaction, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by company insiders.

Cognizant Technology Solutions Trading Up 0.5 %

NASDAQ CTSH traded up $0.37 during trading on Wednesday, hitting $76.50. The company had a trading volume of 62,787 shares, compared to its average volume of 3,859,346. Cognizant Technology Solutions Co. has a one year low of $62.14 and a one year high of $80.27. The company has a market cap of $38.04 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. The company’s fifty day moving average is $75.93 and its 200-day moving average is $71.42. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The company’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 EPS. On average, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CTSH. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and increased their target price for the company from $73.00 to $75.00 in a research report on Wednesday, August 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. Finally, Mizuho restated a “neutral” rating and set a $82.00 price objective on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and an average target price of $77.44.

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.