OLD National Bancorp IN Lowers Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

OLD National Bancorp IN lessened its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 5.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,809 shares of the information technology service provider’s stock after selling 279 shares during the period. OLD National Bancorp IN’s holdings in Cognizant Technology Solutions were worth $370,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. State Street Corp lifted its position in 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 valued at $1,928,405,000 after buying an additional 867,176 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cognizant Technology Solutions by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,280,223 shares of the information technology service provider’s stock valued at $1,022,728,000 after acquiring an additional 173,667 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cognizant Technology Solutions by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,244,731 shares of the information technology service provider’s stock worth $250,428,000 after acquiring an additional 44,129 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Cognizant Technology Solutions by 29.7% during the 3rd quarter. Bank of Montreal Can now owns 2,748,982 shares of the information technology service provider’s stock worth $211,369,000 after purchasing an additional 628,970 shares during the period. Finally, ING Groep NV increased its holdings in Cognizant Technology Solutions by 61.5% in the 3rd quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider’s stock valued at $191,280,000 after purchasing an additional 943,372 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Down 0.2 %

Shares of NASDAQ:CTSH opened at $82.61 on Friday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm has a 50 day simple moving average of $79.16 and a 200-day simple moving average of $77.25. The company has a market capitalization of $40.96 billion, a PE ratio of 18.28, a P/E/G ratio of 2.17 and a beta of 1.07. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month 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 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter last year, the company posted $1.16 earnings per share. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CTSH shares. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Robert W. Baird lifted their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Morgan Stanley increased their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Sixteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus price target of $81.12.

Insider Buying and Selling

In other news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the transaction, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at $3,126,052.42. The trade was a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is currently 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.