First Horizon Advisors Inc. Sells 42,706 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

First Horizon Advisors Inc. trimmed its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 27.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,105 shares of the information technology service provider’s stock after selling 42,706 shares during the period. First Horizon Advisors Inc.’s holdings in Cognizant Technology Solutions were worth $10,211,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in shares of Cognizant Technology Solutions by 174.8% during the 3rd quarter. Goldman Sachs Group Inc. now owns 6,989,824 shares of the information technology service provider’s stock worth $518,716,000 after acquiring an additional 4,446,306 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Cognizant Technology Solutions by 32.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,291,605 shares of the information technology service provider’s stock worth $837,952,000 after acquiring an additional 2,789,442 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Cognizant Technology Solutions by 20.4% during the 3rd quarter. Invesco Ltd. now owns 15,932,928 shares of the information technology service provider’s stock worth $1,182,382,000 after acquiring an additional 2,694,620 shares during the last quarter. First Trust Advisors LP increased its holdings in Cognizant Technology Solutions by 50.0% during the 4th quarter. First Trust Advisors LP now owns 5,934,516 shares of the information technology service provider’s stock worth $526,510,000 after purchasing an additional 1,979,276 shares during the period. Finally, Boston Partners increased its holdings in Cognizant Technology Solutions by 26.6% during the 4th quarter. Boston Partners now owns 6,685,153 shares of the information technology service provider’s stock worth $593,070,000 after purchasing an additional 1,405,697 shares during the period. 90.73% of the stock is owned by institutional investors and hedge funds.

In other news, Director Leo S. Jr. Mackay sold 4,778 shares of the company’s stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $88.52, for a total value of $422,948.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maureen Breakiron-Evans sold 6,371 shares of the company’s stock in a transaction that occurred on Friday, February 25th. The shares were sold at an average price of $87.76, for a total value of $559,118.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,149 shares of company stock valued at $1,434,568. 0.31% of the stock is owned by company insiders.

Several research analysts have commented on CTSH shares. BMO Capital Markets raised their price objective on Cognizant Technology Solutions from $92.00 to $100.00 in a report on Thursday, February 3rd. StockNews.com upgraded Cognizant Technology Solutions from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft raised their price objective on Cognizant Technology Solutions from $81.00 to $92.00 and gave the stock a “hold” rating in a report on Monday, January 24th. Citigroup reduced their price objective on Cognizant Technology Solutions from $95.00 to $88.00 in a report on Thursday. Finally, Barclays lifted their price target on Cognizant Technology Solutions from $78.00 to $85.00 and gave the company an “underweight” rating in a report on Monday, February 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Cognizant Technology Solutions currently has an average rating of “Buy” and a consensus target price of $91.67.

NASDAQ CTSH traded down $11.12 during trading hours on Thursday, reaching $73.24. The company’s stock had a trading volume of 145,441 shares, compared to its average volume of 2,736,079. The firm has a market capitalization of $38.42 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 1.47 and a beta of 1.10. Cognizant Technology Solutions Co. has a 1-year low of $66.19 and a 1-year high of $93.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.08 and a quick ratio of 2.08. The company’s 50-day moving average is $87.44 and its two-hundred day moving average is $85.01.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The information technology service provider reported $1.08 EPS for the quarter, topping the consensus estimate of $1.04 by $0.04. Cognizant Technology Solutions had a return on equity of 19.00% and a net margin of 11.55%. The company had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same period in the previous year, the business earned $0.97 EPS. Cognizant Technology Solutions’s quarterly revenue was up 9.7% on a year-over-year basis. Equities analysts forecast that Cognizant Technology Solutions Co. will post 4.57 EPS for the current fiscal year.

Cognizant Technology Solutions Company Profile (Get Rating)

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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