CIBC Private Wealth Group LLC Sells 16,104 Shares of Cognizant Technology Solutions Corp (CTSH)

CIBC Private Wealth Group LLC cut its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 725,881 shares of the information technology service provider’s stock after selling 16,104 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Cognizant Technology Solutions were worth $46,079,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTSH. Kistler Tiffany Companies LLC increased its stake in Cognizant Technology Solutions by 133.5% in the fourth quarter. Kistler Tiffany Companies LLC now owns 642 shares of the information technology service provider’s stock valued at $41,000 after purchasing an additional 367 shares during the period. Capital Investment Advisory Services LLC acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at $43,000. Benjamin F. Edwards & Company Inc. increased its stake in Cognizant Technology Solutions by 225.3% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 732 shares of the information technology service provider’s stock valued at $46,000 after purchasing an additional 507 shares during the period. Essex Savings Bank acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at $96,000. Finally, Willingdon Wealth Management acquired a new position in Cognizant Technology Solutions in the third quarter valued at $120,000. Institutional investors own 86.73% of the company’s stock.

In other Cognizant Technology Solutions news, EVP Allen Shaheen sold 1,232 shares of the company’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $71.51, for a total transaction of $88,100.32. Following the transaction, the executive vice president now directly owns 6,120 shares in the company, valued at $437,641.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Malcolm Frank sold 7,251 shares of the company’s stock in a transaction dated Thursday, January 3rd. The stock was sold at an average price of $61.88, for a total transaction of $448,691.88. Following the transaction, the vice president now owns 26,289 shares in the company, valued at $1,626,763.32. The disclosure for this sale can be found here. Insiders have sold 28,071 shares of company stock worth $1,873,915 over the last 90 days. 0.60% of the stock is currently owned by company insiders.



A number of research analysts have commented on CTSH shares. BMO Capital Markets restated a “buy” rating and issued a $82.00 price objective on shares of Cognizant Technology Solutions in a research note on Tuesday, October 30th. KeyCorp dropped their price target on shares of Cognizant Technology Solutions from $89.00 to $79.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 31st. Citigroup dropped their price target on shares of Cognizant Technology Solutions from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. Nomura upgraded shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Wednesday, October 31st. Finally, Morgan Stanley dropped their price target on shares of Cognizant Technology Solutions from $87.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus target price of $81.81.

Shares of Cognizant Technology Solutions stock opened at $72.97 on Tuesday. Cognizant Technology Solutions Corp has a 52-week low of $59.47 and a 52-week high of $85.10. The company has a current ratio of 3.12, a quick ratio of 3.24 and a debt-to-equity ratio of 0.06. The stock has a market cap of $42.36 billion, a PE ratio of 18.15, a PEG ratio of 1.63 and a beta of 0.99.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 6th. The information technology service provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.07. Cognizant Technology Solutions had a net margin of 13.03% and a return on equity of 22.15%. The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The business’s revenue was up 7.9% compared to the same quarter last year. Equities analysts anticipate that Cognizant Technology Solutions Corp will post 4.45 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Thursday, February 21st will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, February 20th. This represents a $0.80 annualized dividend and a yield of 1.10%. Cognizant Technology Solutions’s payout ratio is currently 19.90%.

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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.

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

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