Scharf Investments LLC lessened its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 2.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,627,778 shares of the information technology service provider’s stock after selling 54,516 shares during the quarter. Cognizant Technology Solutions makes up about 4.6% of Scharf Investments LLC’s investment portfolio, making the stock its 7th largest position. Scharf Investments LLC owned about 0.45% of Cognizant Technology Solutions worth $190,619,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the company. Sather Financial Group Inc increased its position in Cognizant Technology Solutions by 1.6% in the third quarter. Sather Financial Group Inc now owns 352,797 shares of the information technology service provider’s stock worth $25,592,000 after purchasing an additional 5,635 shares during the last quarter. AMP Capital Investors Ltd increased its position in Cognizant Technology Solutions by 32.6% in the third quarter. AMP Capital Investors Ltd now owns 397,958 shares of the information technology service provider’s stock worth $28,869,000 after purchasing an additional 97,949 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Cognizant Technology Solutions by 1.9% in the third quarter. Nomura Asset Management Co. Ltd. now owns 80,563 shares of the information technology service provider’s stock worth $5,844,000 after purchasing an additional 1,465 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Cognizant Technology Solutions by 267.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 176,605 shares of the information technology service provider’s stock worth $12,865,000 after purchasing an additional 128,500 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in Cognizant Technology Solutions in the third quarter worth $732,000. 87.06% of the stock is currently owned by hedge funds and other institutional investors.

In related news, President Rajeev Mehta sold 32,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $72.02, for a total value of $2,304,640.00. Following the completion of the sale, the president now directly owns 170,063 shares of the company’s stock, valued at $12,247,937.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Francisco Dsouza sold 482,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $72.04, for a total transaction of $34,723,280.00. Following the completion of the sale, the chief executive officer now directly owns 621,643 shares of the company’s stock, valued at $44,783,161.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 650,317 shares of company stock valued at $46,964,889. 1.08% of the stock is owned by insiders.

CTSH has been the topic of several research reports. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Tuesday, October 10th. Robert W. Baird boosted their price target on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, October 19th. Bank of America restated a “buy” rating and issued a $86.00 price target on shares of Cognizant Technology Solutions in a research report on Tuesday, September 12th. SunTrust Banks restated a “buy” rating and issued a $85.00 price target on shares of Cognizant Technology Solutions in a research report on Friday, November 3rd. Finally, KeyCorp restated a “buy” rating and issued a $79.00 price target on shares of Cognizant Technology Solutions in a research report on Friday, September 8th. Six investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Cognizant Technology Solutions presently has an average rating of “Buy” and a consensus target price of $81.91.

Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $71.50 on Thursday. The stock has a market cap of $41,463.84, a price-to-earnings ratio of 20.99, a PEG ratio of 1.58 and a beta of 1.07. Cognizant Technology Solutions Corp has a one year low of $51.52 and a one year high of $76.51. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period 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. sell-side analysts predict that Cognizant Technology Solutions Corp will post 3.35 EPS for the current fiscal year.

The firm also recently disclosed 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 0.84%. The ex-dividend date of this dividend was Friday, November 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 18.52%.

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About Cognizant Technology Solutions

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 (NASDAQ:CTSH)

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