Cognizant Technology Solutions Corp (NASDAQ:CTSH) Shares Bought by Bank of Nova Scotia

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Bank of Nova Scotia raised its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 15.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 606,165 shares of the information technology service provider’s stock after acquiring an additional 80,011 shares during the period. Bank of Nova Scotia owned approximately 0.11% of Cognizant Technology Solutions worth $38,424,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in Cognizant Technology Solutions by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,814,884 shares of the information technology service provider’s stock worth $115,207,000 after purchasing an additional 127,386 shares during the period. Geode Capital Management LLC raised its position in Cognizant Technology Solutions by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 7,217,002 shares of the information technology service provider’s stock worth $457,298,000 after purchasing an additional 482,575 shares during the period. Victory Capital Management Inc. raised its position in Cognizant Technology Solutions by 7.6% in the 1st quarter. Victory Capital Management Inc. now owns 602,135 shares of the information technology service provider’s stock worth $43,625,000 after purchasing an additional 42,553 shares during the period. First Allied Advisory Services Inc. raised its position in Cognizant Technology Solutions by 88.2% in the 1st quarter. First Allied Advisory Services Inc. now owns 27,181 shares of the information technology service provider’s stock worth $1,962,000 after purchasing an additional 12,742 shares during the period. Finally, Cetera Advisor Networks LLC raised its position in Cognizant Technology Solutions by 32.0% in the 1st quarter. Cetera Advisor Networks LLC now owns 7,312 shares of the information technology service provider’s stock worth $528,000 after purchasing an additional 1,774 shares during the period. Institutional investors own 91.52% of the company’s stock.

CTSH has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $66.00 price objective on the stock. in a research report on Thursday, September 5th. HSBC lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $72.00 to $70.00 in a research report on Tuesday, July 23rd. TheStreet raised shares of Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a research report on Tuesday, July 23rd. UBS Group lowered shares of Cognizant Technology Solutions from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $62.00 to $60.00 in a research report on Friday, August 2nd. Finally, Robert W. Baird set a $76.00 price objective on shares of Cognizant Technology Solutions and gave the stock a “buy” rating in a research report on Friday, September 6th. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company. Cognizant Technology Solutions currently has an average rating of “Hold” and an average target price of $74.45.

Shares of NASDAQ:CTSH opened at $65.36 on Thursday. The firm has a market cap of $35.45 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 1.60 and a beta of 1.07. The firm’s 50 day simple moving average is $62.74 and its 200-day simple moving average is $65.94. Cognizant Technology Solutions Corp has a one year low of $56.73 and a one year high of $77.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.55 and a current ratio of 2.55.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. The business had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.13 billion. Cognizant Technology Solutions had a net margin of 12.61% and a return on equity of 20.52%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period last year, the company posted $1.05 earnings per share. Equities research analysts predict that Cognizant Technology Solutions Corp will post 3.96 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 22nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.22%. The ex-dividend date was Wednesday, August 21st. Cognizant Technology Solutions’s payout ratio is 19.90%.

In related news, CFO Karen Mcloughlin sold 7,905 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $64.28, for a total transaction of $508,133.40. Following the transaction, the chief financial officer now directly owns 65,906 shares of the company’s stock, valued at $4,236,437.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP James Patrick Lennox sold 1,454 shares of Cognizant Technology Solutions stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $61.60, for a total transaction of $89,566.40. Following the transaction, the executive vice president now directly owns 3,073 shares in the company, valued at $189,296.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,004 shares of company stock worth $2,715,802. 0.56% of the stock is currently owned by corporate insiders.

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 analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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

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