Forsta AP Fonden Grows Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Forsta AP Fonden boosted its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 96,858 shares of the information technology service provider’s stock after acquiring an additional 1,800 shares during the quarter. Forsta AP Fonden’s holdings in Cognizant Technology Solutions were worth $7,448,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its position in shares of Cognizant Technology Solutions by 276.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock valued at $122,603,000 after acquiring an additional 1,167,033 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Cognizant Technology Solutions by 146.9% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider’s stock valued at $126,940,000 after purchasing an additional 978,579 shares during the period. ING Groep NV increased its position in Cognizant Technology Solutions by 61.5% in the third quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider’s stock worth $191,280,000 after buying an additional 943,372 shares in the last quarter. State Street Corp raised its stake in shares of Cognizant Technology Solutions by 3.6% in the third quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock worth $1,928,405,000 after buying an additional 867,176 shares during the period. Finally, Mizuho Markets Americas LLC purchased a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at about $61,744,000. Institutional investors own 92.44% of the company’s stock.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now directly owns 39,022 shares in the company, valued at $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on CTSH shares. Robert W. Baird raised their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Barclays upgraded shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $80.00 to $95.00 in a research report on Tuesday, December 17th. TD Cowen upped their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Mizuho increased their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, 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 research report on Tuesday, October 22nd. Fifteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $81.19.

Cognizant Technology Solutions Trading Up 1.9 %

CTSH stock opened at $82.76 on Friday. The firm has a market cap of $41.03 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 2.06 and a beta of 1.07. The firm has a fifty day moving average price of $79.01 and a 200 day moving average price of $77.14. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $83.47.

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

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.