Intact Investment Management Inc. purchased a new position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,000 shares of the information technology service provider’s stock, valued at approximately $363,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. acquired a new position in Cognizant Technology Solutions Corporation during the 3rd quarter worth approximately $3,569,000. Well Done LLC acquired a new position in Cognizant Technology Solutions Corporation during the 3rd quarter worth approximately $731,000. Calamos Advisors LLC boosted its position in Cognizant Technology Solutions Corporation by 3.8% during the 3rd quarter. Calamos Advisors LLC now owns 80,619 shares of the information technology service provider’s stock worth $5,848,000 after acquiring an additional 2,954 shares during the last quarter. Benchmark Capital Advisors boosted its position in Cognizant Technology Solutions Corporation by 41.7% during the 3rd quarter. Benchmark Capital Advisors now owns 7,650 shares of the information technology service provider’s stock worth $555,000 after acquiring an additional 2,250 shares during the last quarter. Finally, Highstreet Asset Management Inc. acquired a new position in Cognizant Technology Solutions Corporation during the 3rd quarter worth approximately $1,026,000. 87.35% of the stock is owned by hedge funds and other institutional investors.

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Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.03. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be paid a $0.15 dividend. The ex-dividend date is Friday, November 17th. This represents a $0.60 annualized dividend and a dividend yield of 0.79%. Cognizant Technology Solutions Corporation’s payout ratio is presently 19.17%.

In other Cognizant Technology Solutions Corporation news, COO Srinivasan Veeraraghavachary sold 2,500 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $71.00, for a total value of $177,500.00. Following the sale, the chief operating officer now directly owns 27,165 shares in the company, valued at $1,928,715. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Allen Shaheen sold 442 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $70.58, for a total value of $31,196.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 281,095 shares of company stock worth $20,095,913. Corporate insiders own 1.08% of the company’s stock.

Several equities research analysts have recently commented on CTSH shares. Zacks Investment Research raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a report on Tuesday, October 10th. Robert W. Baird increased their price objective on Cognizant Technology Solutions Corporation from $80.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, October 19th. Bank of America Corporation reissued a “buy” rating and issued a $86.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Tuesday, September 12th. KeyCorp reissued a “buy” rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Friday, September 8th. Finally, Cowen and Company reissued a “buy” rating and issued a $75.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Friday, July 28th. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $78.59.

Cognizant Technology Solutions Corporation Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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Institutional Ownership by Quarter for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

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