Trade Report: Today, Pzena Investment Management LLC Reached $44,869,000 position of Cognizant Technology Solutions Corp. (CTSH)

Today, Pzena Investment Management LLC Reached $44,869,000 position  of Cognizant Technology Solutions Corp. (CTSH)

Pzena Investment Management LLC increased its position in shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 70.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 940,451 shares of the information technology service provider’s stock after buying an additional 387,953 shares during the period. Pzena Investment Management LLC owned 0.15% of Cognizant Technology Solutions Corp. worth $44,869,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of CTSH. Washington Trust Bank increased its position in Cognizant Technology Solutions Corp. by 6.8% in the second quarter. Washington Trust Bank now owns 1,789 shares of the information technology service provider’s stock worth $102,000 after buying an additional 114 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in Cognizant Technology Solutions Corp. during the second quarter worth approximately $123,000. Exane Derivatives increased its position in Cognizant Technology Solutions Corp. by 22.3% in the second quarter. Exane Derivatives now owns 2,278 shares of the information technology service provider’s stock worth $130,000 after buying an additional 416 shares during the period. First Manhattan Co. increased its position in Cognizant Technology Solutions Corp. by 16.8% in the second quarter. First Manhattan Co. now owns 2,523 shares of the information technology service provider’s stock worth $144,000 after buying an additional 363 shares during the period. Finally, Assetmark Inc. increased its position in Cognizant Technology Solutions Corp. by 29.4% in the second quarter. Assetmark Inc. now owns 2,699 shares of the information technology service provider’s stock worth $154,000 after buying an additional 613 shares during the period. 85.29% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 51.86 on Friday. Cognizant Technology Solutions Corp. has a 52-week low of $45.44 and a 52-week high of $65.91. The stock’s 50 day moving average is $52.05 and its 200-day moving average is $56.59. The firm has a market capitalization of $31.46 billion, a PE ratio of 20.26 and a beta of 1.34.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last posted its quarterly earnings results on Monday, November 7th. The information technology service provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The business earned $3.45 billion during the quarter, compared to analyst estimates of $3.46 billion. Cognizant Technology Solutions Corp. had a net margin of 11.78% and a return on equity of 19.42%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. Equities analysts expect that Cognizant Technology Solutions Corp. will post $3.37 earnings per share for the current year.

Several research analysts have issued reports on the stock. Vetr downgraded shares of Cognizant Technology Solutions Corp. from a “strong-buy” rating to a “buy” rating and set a $60.28 price objective on the stock. in a research report on Monday, November 7th. Needham & Company LLC lowered their price objective on shares of Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, August 8th. Deutsche Bank AG reissued a “buy” rating and set a $69.00 price objective on shares of Cognizant Technology Solutions Corp. in a research report on Friday, October 21st. Cantor Fitzgerald set a $68.00 price objective on shares of Cognizant Technology Solutions Corp. and gave the stock a “buy” rating in a research report on Friday, August 5th. Finally, Goldman Sachs Group Inc. downgraded shares of Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $68.00 to $61.00 in a research report on Thursday, September 15th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $64.99.

In other news, VP Malcolm Frank sold 1,248 shares of the stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $58.50, for a total value of $73,008.00. Following the completion of the sale, the vice president now directly owns 3,945 shares of the company’s stock, valued at $230,782.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Karen Mcloughlin sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $51.27, for a total transaction of $512,700.00. Following the completion of the sale, the chief financial officer now directly owns 52,614 shares of the company’s stock, valued at $2,697,519.78. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

About Cognizant Technology Solutions Corp.

Cognizant Technology Solutions Corporation is a provider of information technology (IT), consulting and business process services. The Company operates through four segments: Financial Services, which includes customers providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers, as well as life sciences customers, including pharmaceutical, biotech and medical device companies; Manufacturing, Retail and Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as customers providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology.

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