Foster & Motley Inc. Has $4.90 Million Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Foster & Motley Inc. raised its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,670 shares of the information technology service provider’s stock after purchasing an additional 3,520 shares during the quarter. Foster & Motley Inc.’s holdings in Cognizant Technology Solutions were worth $4,896,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on CTSH shares. Mizuho boosted their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Barclays raised shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $80.00 to $95.00 in a research note on Tuesday, December 17th. Robert W. Baird raised their price objective 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. TD Cowen upped their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Fifteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus target price of $81.19.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $81.19 on Thursday. 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 52 week low of $63.79 and a 52 week high of $82.46. The company’s 50 day moving average price is $78.94 and its two-hundred day moving average price is $77.11. The company has a market capitalization of $40.26 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 2.06 and a beta of 1.07.

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 for the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the business posted $1.16 earnings per share. On average, analysts expect 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.