Today, M&T Bank Corp cuts position of Cognizant Technology Solutions Corp. (CTSH)

Today, M&T Bank Corp cuts position of Cognizant Technology Solutions Corp. (CTSH)
M&T Bank Corp decreased its stake in shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 14.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 134,404 shares of the information technology service provider’s stock after selling 23,345 shares during the period. M&T Bank Corp’s holdings in Cognizant Technology Solutions Corp. were worth $6,412,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Cognizant Technology Solutions Corp. by 1.4% in the second quarter. Vanguard Group Inc. now owns 37,394,147 shares of the information technology service provider’s stock valued at $2,140,441,000 after buying an additional 504,392 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Cognizant Technology Solutions Corp. by 45.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 25,864,040 shares of the information technology service provider’s stock valued at $1,480,458,000 after buying an additional 8,041,798 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Cognizant Technology Solutions Corp. by 21.1% in the second quarter. Artisan Partners Limited Partnership now owns 13,571,012 shares of the information technology service provider’s stock valued at $776,805,000 after buying an additional 2,362,461 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Cognizant Technology Solutions Corp. by 28.7% in the third quarter. Nordea Investment Management AB now owns 11,193,191 shares of the information technology service provider’s stock valued at $534,027,000 after buying an additional 2,499,068 shares in the last quarter. Finally, Genesis Asset Managers LLP raised its stake in shares of Cognizant Technology Solutions Corp. by 25.9% in the third quarter. Genesis Asset Managers LLP now owns 8,187,200 shares of the information technology service provider’s stock valued at $410,097,000 after buying an additional 1,686,147 shares in the last quarter. Institutional investors and hedge funds own 85.29% of the company’s stock.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 2.68% during trading on Friday, hitting $53.25. The stock had a trading volume of 5,411,024 shares. The stock has a 50 day moving average price of $52.05 and a 200-day moving average price of $56.59. Cognizant Technology Solutions Corp. has a 12 month low of $45.44 and a 12 month high of $65.91. The stock has a market cap of $32.31 billion, a price-to-earnings ratio of 20.80 and a beta of 1.34.

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

Several brokerages have recently issued reports on CTSH. Needham & Company LLC decreased their target price on Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, August 8th. Nomura lowered Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and decreased their target price for the company from $65.00 to $62.00 in a research report on Monday, August 8th. Cantor Fitzgerald set a $68.00 target price on Cognizant Technology Solutions Corp. and gave the company a “buy” rating in a research report on Friday, August 5th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $62.00 target price on shares of Cognizant Technology Solutions Corp. in a research report on Wednesday, August 3rd. Finally, Vetr raised Cognizant Technology Solutions Corp. from a “buy” rating to a “strong-buy” rating and set a $65.33 target price for the company in a research report on Monday, September 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Cognizant Technology Solutions Corp. presently has a consensus rating of “Buy” and an average target price of $64.99.

In other Cognizant Technology Solutions Corp. news, CFO Karen Mcloughlin sold 10,000 shares of the firm’s stock in a transaction 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 owns 52,614 shares of the company’s stock, valued at $2,697,519.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Malcolm Frank sold 1,248 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $58.50, for a total value of $73,008.00. Following the sale, the vice president now directly owns 3,945 shares of the company’s stock, valued at approximately $230,782.50. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

About Cognizant Technology Solutions Corp.

Related posts

Leave a Comment