Majedie Asset Management Ltd Has $7.47 Million Position in Cognizant Technology Solutions Corporation (CTSH)

Majedie Asset Management Ltd raised its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 16.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 125,569 shares of the information technology service provider’s stock after buying an additional 17,432 shares during the period. Majedie Asset Management Ltd’s holdings in Cognizant Technology Solutions Corporation were worth $7,474,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Franklin Resources Inc. boosted its stake in shares of Cognizant Technology Solutions Corporation by 190.9% in the fourth quarter. Franklin Resources Inc. now owns 12,383,985 shares of the information technology service provider’s stock worth $693,948,000 after buying an additional 8,126,603 shares during the last quarter. Norges Bank acquired a new stake in shares of Cognizant Technology Solutions Corporation during the fourth quarter worth approximately $318,007,000. Highfields Capital Management LP acquired a new stake in shares of Cognizant Technology Solutions Corporation during the fourth quarter worth approximately $253,215,000. Comgest Global Investors S.A.S. acquired a new stake in shares of Cognizant Technology Solutions Corporation during the first quarter worth approximately $224,748,000. Finally, Edgewood Management LLC boosted its stake in shares of Cognizant Technology Solutions Corporation by 25.3% in the fourth quarter. Edgewood Management LLC now owns 14,149,600 shares of the information technology service provider’s stock worth $792,802,000 after buying an additional 2,860,888 shares during the last quarter. 90.78% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Cognizant Technology Solutions Corporation (CTSH) traded up 0.10% during mid-day trading on Tuesday, reaching $67.47. 187,837 shares of the company’s stock traded hands. Cognizant Technology Solutions Corporation has a 1-year low of $45.44 and a 1-year high of $67.88. The firm has a 50-day moving average price of $65.31 and a 200-day moving average price of $59.46. The company has a market capitalization of $39.74 billion, a P/E ratio of 24.54 and a beta of 1.14.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its earnings results on Friday, May 5th. The information technology service provider reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.09. Cognizant Technology Solutions Corporation had a return on equity of 18.77% and a net margin of 12.07%. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same period in the previous year, the company earned $0.80 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts forecast that Cognizant Technology Solutions Corporation will post $3.66 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Tuesday, May 23rd were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, May 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.89%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 21.90%.

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A number of equities research analysts recently commented on CTSH shares. Vetr cut shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and set a $60.45 price objective on the stock. in a research note on Monday, March 13th. SunTrust Banks, Inc. raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Thursday, April 13th. Morgan Stanley raised their price target on shares of Cognizant Technology Solutions Corporation from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, May 8th. Needham & Company LLC raised their price target on shares of Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Finally, Robert W. Baird raised their price target on shares of Cognizant Technology Solutions Corporation from $70.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, May 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company. Cognizant Technology Solutions Corporation presently has an average rating of “Buy” and an average target price of $65.53.

In other news, insider Sean Middleton sold 1,890 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $60.00, for a total transaction of $113,400.00. Following the completion of the transaction, the insider now directly owns 5,888 shares in the company, valued at $353,280. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gajakarnan Vibushanan Kandiah sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $67.44, for a total value of $674,400.00. Following the transaction, the insider now owns 25,514 shares of the company’s stock, valued at $1,720,664.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,712 shares of company stock valued at $3,306,626. Corporate insiders own 1.08% of the company’s stock.

About Cognizant Technology Solutions Corporation

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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