Cognizant Technology Solutions Corp (CTSH) Stake Raised by Synovus Financial Corp

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Synovus Financial Corp lifted its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 6.5% in the 1st quarter, Holdings Channel reports. The firm owned 65,428 shares of the information technology service provider’s stock after purchasing an additional 4,010 shares during the period. Synovus Financial Corp’s holdings in Cognizant Technology Solutions were worth $4,731,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CTSH. Norges Bank purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth $366,248,000. Oregon Public Employees Retirement Fund lifted its position in Cognizant Technology Solutions by 6,171.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,052,309 shares of the information technology service provider’s stock valued at $64,000 after acquiring an additional 3,987,693 shares during the last quarter. FMR LLC lifted its position in Cognizant Technology Solutions by 39.0% in the fourth quarter. FMR LLC now owns 12,939,775 shares of the information technology service provider’s stock valued at $821,416,000 after acquiring an additional 3,632,452 shares during the last quarter. Two Sigma Advisers LP lifted its position in Cognizant Technology Solutions by 2,915.5% in the fourth quarter. Two Sigma Advisers LP now owns 1,627,367 shares of the information technology service provider’s stock valued at $103,305,000 after acquiring an additional 1,573,400 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Cognizant Technology Solutions by 14.9% in the fourth quarter. Nordea Investment Management AB now owns 10,187,078 shares of the information technology service provider’s stock valued at $646,676,000 after acquiring an additional 1,324,213 shares during the last quarter. 89.27% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Brian Humphries purchased 19,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average cost of $61.09 per share, for a total transaction of $1,160,710.00. Following the completion of the purchase, the chief executive officer now directly owns 19,000 shares in the company, valued at approximately $1,160,710. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Malcolm Frank sold 437 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $71.81, for a total transaction of $31,380.97. Following the transaction, the vice president now owns 27,009 shares in the company, valued at $1,939,516.29. The disclosure for this sale can be found here. Insiders sold 47,820 shares of company stock valued at $3,402,075 over the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Shares of NASDAQ:CTSH opened at $61.87 on Monday. Cognizant Technology Solutions Corp has a one year low of $56.73 and a one year high of $83.35. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.90 and a quick ratio of 2.90. The stock has a market capitalization of $35.22 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.57 and a beta of 0.95.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.12). Cognizant Technology Solutions had a net margin of 12.39% and a return on equity of 21.50%. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same period in the previous year, the company posted $0.94 earnings per share. Cognizant Technology Solutions’s quarterly revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts predict that Cognizant Technology Solutions Corp will post 3.91 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.29%. Cognizant Technology Solutions’s payout ratio is 19.90%.

A number of equities research analysts recently weighed in on the stock. ValuEngine raised shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research report on Thursday. Argus cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Daiwa Capital Markets cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. UBS Group reduced their price target on shares of Cognizant Technology Solutions from $76.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Finally, Zacks Investment Research cut shares of Cognizant Technology Solutions from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 7th. Four research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $75.55.

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Cognizant Technology Solutions 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.

Further Reading: Market Capitalization and Individual Investors

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Corp (NASDAQ:CTSH).

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

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