Twelve Points Wealth Management LLC Raises Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Twelve Points Wealth Management LLC lifted its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 19.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,696 shares of the information technology service provider’s stock after buying an additional 1,901 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in Cognizant Technology Solutions were worth $899,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in Cognizant Technology Solutions during the 3rd quarter worth $1,972,000. Retirement Systems of Alabama increased its holdings in Cognizant Technology Solutions by 3.5% during the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock worth $91,678,000 after purchasing an additional 40,226 shares during the period. CGN Advisors LLC purchased a new position in Cognizant Technology Solutions during the 4th quarter worth $1,294,000. Daiwa Securities Group Inc. increased its holdings in Cognizant Technology Solutions by 12.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider’s stock worth $7,828,000 after purchasing an additional 11,349 shares during the period. Finally, Matthews International Capital Management LLC increased its holdings in Cognizant Technology Solutions by 52.0% during the 4th quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock worth $3,853,000 after purchasing an additional 17,134 shares during the period. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $80.96 on Wednesday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.46. The business has a 50-day simple moving average of $78.85 and a 200-day simple moving average of $77.05. The stock has a market cap of $40.14 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 2.06 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share 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 firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the business earned $1.16 EPS. Cognizant Technology Solutions’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts expect that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on CTSH shares. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Robert W. Baird lifted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Mizuho lifted their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Fifteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $81.19.

Insiders Place Their Bets

In other 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 value of $400,550.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by company insiders.

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.