Madison Asset Management LLC Has $889,000 Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Madison Asset Management LLC decreased its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 98.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,383 shares of the information technology service provider’s stock after selling 885,459 shares during the period. Madison Asset Management LLC’s holdings in Cognizant Technology Solutions were worth $889,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Teacher Retirement System of Texas raised its holdings in Cognizant Technology Solutions by 21.4% during the first quarter. Teacher Retirement System of Texas now owns 197,615 shares of the information technology service provider’s stock worth $15,438,000 after buying an additional 34,866 shares during the last quarter. Almanack Investment Partners LLC. purchased a new stake in shares of Cognizant Technology Solutions in the first quarter valued at about $206,000. Rockefeller Capital Management L.P. raised its holdings in shares of Cognizant Technology Solutions by 15.9% in the first quarter. Rockefeller Capital Management L.P. now owns 12,908 shares of the information technology service provider’s stock valued at $1,007,000 after purchasing an additional 1,774 shares during the last quarter. Barings LLC raised its holdings in shares of Cognizant Technology Solutions by 17.3% in the first quarter. Barings LLC now owns 12,549 shares of the information technology service provider’s stock valued at $981,000 after purchasing an additional 1,852 shares during the last quarter. Finally, Davy Global Fund Management Ltd raised its holdings in shares of Cognizant Technology Solutions by 13.4% in the first quarter. Davy Global Fund Management Ltd now owns 6,698 shares of the information technology service provider’s stock valued at $523,000 after purchasing an additional 793 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Several analysts have recently commented on CTSH shares. Susquehanna Bancshares increased their target price on shares of Cognizant Technology Solutions from $89.00 to $99.00 and gave the company a “positive” rating in a report on Thursday, May 6th. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating and set a $79.00 price target for the company in a research report on Monday, May 10th. Morgan Stanley reduced their price target on shares of Cognizant Technology Solutions from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Thursday, May 6th. Finally, Susquehanna increased their price target on shares of Cognizant Technology Solutions from $89.00 to $99.00 and gave the company a “positive” rating in a research report on Thursday, May 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $80.76.

In other Cognizant Technology Solutions news, insider Malcolm Frank sold 1,031 shares of Cognizant Technology Solutions stock in a transaction that occurred on Thursday, June 3rd. The shares were sold at an average price of $70.84, for a total transaction of $73,036.04. Following the transaction, the insider now directly owns 45,178 shares of the company’s stock, valued at $3,200,409.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Patsalos-Fox sold 5,858 shares of Cognizant Technology Solutions stock in a transaction that occurred on Thursday, May 27th. The stock was sold at an average price of $71.20, for a total transaction of $417,089.60. Following the transaction, the director now directly owns 57,830 shares in the company, valued at $4,117,496. The disclosure for this sale can be found here. Insiders have sold 7,560 shares of company stock worth $541,378 over the last three months. Insiders own 0.31% of the company’s stock.

CTSH stock opened at $71.17 on Friday. The company has a 50 day moving average price of $75.69. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. Cognizant Technology Solutions Co. has a 12 month low of $52.50 and a 12 month high of $82.73. The company has a market capitalization of $37.54 billion, a price-to-earnings ratio of 24.97, a P/E/G ratio of 1.63 and a beta of 1.15.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Tuesday, May 4th. The information technology service provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.36 billion. Cognizant Technology Solutions had a net margin of 9.09% and a return on equity of 16.77%. Cognizant Technology Solutions’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm posted $0.96 earnings per share. Analysts anticipate that Cognizant Technology Solutions Co. will post 3.98 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 28th. Shareholders of record on Thursday, May 20th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Wednesday, May 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.07%.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.

Featured Article: What is Forex?

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 Co. (NASDAQ:CTSH).

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

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.