Westpac Banking Corp Increases Holdings in Cognizant Technology Solutions Corp (CTSH)

Westpac Banking Corp grew its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 16.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 172,568 shares of the information technology service provider’s stock after acquiring an additional 24,683 shares during the quarter. Westpac Banking Corp’s holdings in Cognizant Technology Solutions were worth $12,256,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CTSH. Acrospire Investment Management LLC lifted its position in shares of Cognizant Technology Solutions by 92.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after buying an additional 800 shares during the period. Bank of Nova Scotia Trust Co. bought a new position in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $121,000. WFG Advisors LP lifted its position in shares of Cognizant Technology Solutions by 46.4% during the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after buying an additional 621 shares during the period. Krilogy Financial LLC bought a new position in shares of Cognizant Technology Solutions during the 2nd quarter worth approximately $137,000. Finally, BB&T Investment Services Inc. lifted its position in shares of Cognizant Technology Solutions by 86.8% during the 3rd quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock worth $141,000 after buying an additional 1,011 shares during the period. Institutional investors own 86.04% of the company’s stock.

Shares of Cognizant Technology Solutions Corp (CTSH) opened at $76.75 on Friday. The company has a market capitalization of $45,260.00, a price-to-earnings ratio of 23.76, a PEG ratio of 1.45 and a beta of 1.08. Cognizant Technology Solutions Corp has a 52 week low of $51.52 and a 52 week high of $77.14. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 3.29.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.13. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $0.86 EPS. sell-side analysts predict that Cognizant Technology Solutions Corp will post 3.35 earnings per share for the current fiscal year.

In related news, CFO Karen Mcloughlin sold 12,500 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $75.37, for a total transaction of $942,125.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sumithra Gomatam sold 3,163 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $76.00, for a total value of $240,388.00. Following the sale, the insider now directly owns 6,346 shares of the company’s stock, valued at $482,296. The disclosure for this sale can be found here. Insiders sold a total of 844,786 shares of company stock valued at $61,507,334 over the last three months. Insiders own 1.08% of the company’s stock.

Several research firms recently commented on CTSH. Zacks Investment Research upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Wednesday, January 10th. Citigroup upgraded Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and raised their target price for the stock from $75.84 to $79.00 in a research report on Thursday. BidaskClub upgraded Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research report on Friday. Barclays lifted their price objective on Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Finally, William Blair upgraded Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 1st. Five equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $81.98.

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Cognizant Technology Solutions Company Profile

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

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