Lannebo Fonder AB Acquires 40,000 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Lannebo Fonder AB boosted its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 29.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,000 shares of the information technology service provider’s stock after acquiring an additional 40,000 shares during the quarter. Cognizant Technology Solutions accounts for approximately 2.1% of Lannebo Fonder AB’s investment portfolio, making the stock its 20th biggest holding. Lannebo Fonder AB’s holdings in Cognizant Technology Solutions were worth $11,811,000 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 CTSH. O Shaughnessy Asset Management LLC increased its position in Cognizant Technology Solutions by 118.2% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 7,485 shares of the information technology service provider’s stock worth $664,000 after acquiring an additional 4,054 shares during the period. Schroder Investment Management Group lifted its position in shares of Cognizant Technology Solutions by 3.0% during the 4th quarter. Schroder Investment Management Group now owns 392,206 shares of the information technology service provider’s stock valued at $34,797,000 after acquiring an additional 11,348 shares during the period. Gotham Asset Management LLC lifted its position in shares of Cognizant Technology Solutions by 27.9% during the 4th quarter. Gotham Asset Management LLC now owns 5,495 shares of the information technology service provider’s stock valued at $488,000 after acquiring an additional 1,200 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Cognizant Technology Solutions by 4.0% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 73,231 shares of the information technology service provider’s stock valued at $6,497,000 after acquiring an additional 2,790 shares during the period. Finally, Blair William & Co. IL lifted its position in shares of Cognizant Technology Solutions by 81.3% during the 4th quarter. Blair William & Co. IL now owns 18,597 shares of the information technology service provider’s stock valued at $1,650,000 after acquiring an additional 8,339 shares during the period. Institutional investors and hedge funds own 90.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. HSBC downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating and cut their target price for the company from $90.00 to $79.00 in a research report on Wednesday, August 17th. UBS Group dropped their price objective on Cognizant Technology Solutions from $89.00 to $76.00 and set a “neutral” rating for the company in a research report on Thursday, July 28th. Robert W. Baird dropped their price objective on Cognizant Technology Solutions from $78.00 to $76.00 and set an “outperform” rating for the company in a research report on Thursday. Barclays dropped their price objective on Cognizant Technology Solutions from $80.00 to $55.00 and set an “underweight” rating for the company in a research report on Tuesday, July 19th. Finally, Susquehanna lowered their target price on Cognizant Technology Solutions from $100.00 to $98.00 in a report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $83.13.

Insider Activity at Cognizant Technology Solutions

In related news, Director Zein Abdalla sold 4,368 shares of the stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $65.44, for a total transaction of $285,841.92. Following the completion of the sale, the director now directly owns 13,556 shares of the company’s stock, valued at $887,104.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Cognizant Technology Solutions Stock Down 2.7 %

NASDAQ:CTSH traded down $1.59 on Friday, hitting $58.21. The stock had a trading volume of 88,354 shares, compared to its average volume of 2,777,996. The business’s fifty day moving average is $66.09 and its 200 day moving average is $74.00. The company has a market cap of $30.14 billion, a PE ratio of 13.87, a P/E/G ratio of 1.20 and a beta of 1.06. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions Co. has a 52 week low of $59.63 and a 52 week high of $93.47.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last posted its earnings results on Wednesday, July 27th. The information technology service provider reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.05. Cognizant Technology Solutions had a return on equity of 19.36% and a net margin of 11.74%. The company had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.92 billion. During the same quarter last year, the company earned $0.99 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.55 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. Investors of record on Friday, August 19th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date was Thursday, August 18th. Cognizant Technology Solutions’s payout ratio is 25.06%.

Cognizant Technology Solutions Profile

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Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.

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

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