BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 15.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 647,319 shares of the information technology service provider’s stock after selling 119,123 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.11% of Cognizant Technology Solutions worth $46,957,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. FMR LLC boosted its position in Cognizant Technology Solutions by 81.6% during the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock worth $1,664,366,000 after acquiring an additional 11,262,360 shares during the last quarter. Edgewood Management LLC boosted its position in Cognizant Technology Solutions by 9.3% during the 3rd quarter. Edgewood Management LLC now owns 16,915,676 shares of the information technology service provider’s stock worth $1,227,063,000 after acquiring an additional 1,443,368 shares during the last quarter. Nordea Investment Management AB boosted its position in Cognizant Technology Solutions by 3.2% during the 3rd quarter. Nordea Investment Management AB now owns 10,076,020 shares of the information technology service provider’s stock worth $730,914,000 after acquiring an additional 313,364 shares during the last quarter. Comgest Global Investors S.A.S. boosted its position in Cognizant Technology Solutions by 24.5% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 7,416,617 shares of the information technology service provider’s stock worth $538,001,000 after acquiring an additional 1,461,800 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its position in Cognizant Technology Solutions by 4.4% during the 2nd quarter. Pzena Investment Management LLC now owns 7,010,880 shares of the information technology service provider’s stock worth $465,522,000 after acquiring an additional 296,899 shares during the last quarter. 87.06% of the stock is owned by hedge funds and other institutional investors.

In related news, President Rajeev Mehta sold 32,000 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $72.02, for a total value of $2,304,640.00. Following the sale, the president now owns 170,063 shares in the company, valued at approximately $12,247,937.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Venkat Krishnaswamy sold 4,000 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $75.00, for a total value of $300,000.00. Following the completion of the sale, the insider now owns 3,919 shares in the company, valued at approximately $293,925. The disclosure for this sale can be found here. In the last 90 days, insiders sold 652,042 shares of company stock worth $47,088,347. 1.08% of the stock is owned by company insiders.

Shares of Cognizant Technology Solutions Corp (CTSH) opened at $70.43 on Wednesday. Cognizant Technology Solutions Corp has a 12 month low of $51.52 and a 12 month high of $76.51. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $42,077.07, a price-to-earnings ratio of 21.30, a P/E/G ratio of 1.61 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.13. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. 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 prior year, the business earned $0.86 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. equities analysts expect that Cognizant Technology Solutions Corp will post 3.35 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Monday, November 20th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Friday, November 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 18.52%.

A number of equities analysts have weighed in on CTSH shares. SunTrust Banks reaffirmed a “buy” rating and set a $85.00 price target on shares of Cognizant Technology Solutions in a research report on Friday, November 3rd. Credit Suisse Group reaffirmed an “outperform” rating and set a $89.00 price target (up previously from $80.00) on shares of Cognizant Technology Solutions in a research report on Thursday, November 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $77.00 price target on shares of Cognizant Technology Solutions in a research report on Wednesday, September 6th. Zacks Investment Research downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Citigroup upped their price objective on Cognizant Technology Solutions from $73.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. Six analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $81.91.

WARNING: This piece was first reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright and trademark legislation. The correct version of this piece can be accessed at https://theolympiareport.com/2017/12/06/british-columbia-investment-management-corp-sells-119123-shares-of-cognizant-technology-solutions-corp-ctsh.html.

Cognizant Technology Solutions 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.

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

Receive News & Ratings for Cognizant Technology Solutions Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions Corp and related companies with Analyst Ratings Network's FREE daily email newsletter.