Associated Banc Corp reduced its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 3.6% during the 4th quarter, HoldingsChannel reports. The fund owned 35,302 shares of the information technology service provider’s stock after selling 1,320 shares during the period. Associated Banc Corp’s holdings in Cognizant Technology Solutions were worth $2,507,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CTSH. Gotham Asset Management LLC boosted its position in shares of Cognizant Technology Solutions by 4.3% during the 2nd quarter. Gotham Asset Management LLC now owns 6,565 shares of the information technology service provider’s stock valued at $436,000 after acquiring an additional 269 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cognizant Technology Solutions during the 2nd quarter valued at about $985,000. Toronto Dominion Bank boosted its position in shares of Cognizant Technology Solutions by 21.0% during the 2nd quarter. Toronto Dominion Bank now owns 204,966 shares of the information technology service provider’s stock valued at $13,608,000 after acquiring an additional 35,518 shares in the last quarter. WFG Advisors LP boosted its position in shares of Cognizant Technology Solutions by 46.4% during the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after acquiring an additional 621 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Cognizant Technology Solutions during the 2nd quarter valued at about $2,390,000. Institutional investors and hedge funds own 86.87% of the company’s stock.

In other news, CEO Francisco Dsouza sold 482,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, November 21st. The shares were 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 owns 621,643 shares in the company, valued at approximately $44,783,161.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Chandrasekaran Ramakrishnan sold 25,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $75.44, for a total transaction of $1,886,000.00. Following the sale, the insider now owns 271,300 shares of the company’s stock, valued at approximately $20,466,872. The disclosure for this sale can be found here. In the last quarter, insiders have sold 994,079 shares of company stock valued at $73,129,749. 1.08% of the stock is owned by corporate insiders.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $77.43 on Tuesday. Cognizant Technology Solutions Corp has a 12 month low of $57.00 and a 12 month high of $79.28. The firm has a market cap of $45,660.00, a PE ratio of 30.73, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.21 and a quick ratio of 3.29.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.15. Cognizant Technology Solutions had a net margin of 10.15% and a return on equity of 19.94%. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the previous year, the firm posted $0.87 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. sell-side analysts anticipate that Cognizant Technology Solutions Corp will post 3.97 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Thursday, February 22nd will be given a dividend of $0.20 per share. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.03%. Cognizant Technology Solutions’s payout ratio is currently 23.81%.

Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research report on Wednesday, January 10th. BMO Capital Markets lifted their price target on shares of Cognizant Technology Solutions from $78.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. BidaskClub raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday. SunTrust Banks reissued a “buy” rating and set a $90.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, February 7th. Finally, Pivotal Research reissued a “buy” rating and set a $93.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, February 7th. Five equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $84.21.

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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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