TPG Group Holdings SBS Advisors Inc. Sells 64,394 Shares of Cognizant Technology Solutions Corp (CTSH)

TPG Group Holdings SBS Advisors Inc. cut its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 4.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,433,666 shares of the information technology service provider’s stock after selling 64,394 shares during the period. Cognizant Technology Solutions comprises approximately 1.5% of TPG Group Holdings SBS Advisors Inc.’s portfolio, making the stock its 12th biggest holding. TPG Group Holdings SBS Advisors Inc.’s holdings in Cognizant Technology Solutions were worth $113,245,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CTSH. BlackRock Inc. grew its holdings in Cognizant Technology Solutions by 6.9% during the second quarter. BlackRock Inc. now owns 42,845,471 shares of the information technology service provider’s stock valued at $3,384,363,000 after purchasing an additional 2,775,975 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Cognizant Technology Solutions by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 18,273,087 shares of the information technology service provider’s stock worth $1,443,390,000 after acquiring an additional 836,521 shares in the last quarter. Edgewood Management LLC raised its position in shares of Cognizant Technology Solutions by 2.3% in the second quarter. Edgewood Management LLC now owns 18,137,904 shares of the information technology service provider’s stock worth $1,432,713,000 after buying an additional 414,390 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Cognizant Technology Solutions by 0.7% in the first quarter. Franklin Resources Inc. now owns 10,892,663 shares of the information technology service provider’s stock worth $876,853,000 after buying an additional 77,616 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Cognizant Technology Solutions by 9.3% in the second quarter. Wells Fargo & Company MN now owns 5,358,928 shares of the information technology service provider’s stock worth $423,302,000 after buying an additional 454,193 shares in the last quarter. 88.08% of the stock is owned by institutional investors.

In other Cognizant Technology Solutions news, EVP James Patrick Lennox sold 842 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $75.20, for a total value of $63,318.40. Following the completion of the sale, the executive vice president now directly owns 5,555 shares in the company, valued at $417,736. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Allen Shaheen sold 352 shares of the firm’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $74.89, for a total transaction of $26,361.28. The disclosure for this sale can be found here. Insiders sold 53,683 shares of company stock worth $4,146,324 over the last three months. 0.60% of the stock is owned by insiders.



A number of brokerages recently issued reports on CTSH. BidaskClub upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Friday, July 13th. Wolfe Research began coverage on Cognizant Technology Solutions in a research report on Tuesday, July 17th. They issued a “market perform” rating on the stock. Zacks Investment Research downgraded Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research report on Monday, July 9th. Bank of America downgraded Cognizant Technology Solutions from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $91.00 to $81.00 in a research report on Tuesday, September 4th. Finally, KeyCorp lowered their price objective on Cognizant Technology Solutions from $91.00 to $89.00 and set an “overweight” rating on the stock in a research report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $85.18.

NASDAQ CTSH opened at $76.28 on Friday. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $43.92 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 1.39 and a beta of 0.94. Cognizant Technology Solutions Corp has a 1 year low of $69.69 and a 1 year high of $85.10.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Thursday, August 2nd. The information technology service provider reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.09. The company had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Cognizant Technology Solutions had a return on equity of 21.66% and a net margin of 9.37%. Cognizant Technology Solutions’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the firm earned $0.93 earnings per share. analysts anticipate that Cognizant Technology Solutions Corp will post 4.18 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Wednesday, August 22nd were paid a $0.20 dividend. The ex-dividend date was Tuesday, August 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.05%. Cognizant Technology Solutions’s payout ratio is presently 22.66%.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

Further Reading: Hedge Funds Explained

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

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