Trading Report: Today: Alta Capital Management LLC Raises Stake in Cognizant Technology Solutions Corp. (CTSH)

Today: Alta Capital Management LLC Raises Stake in Cognizant Technology Solutions Corp. (CTSH)

Alta Capital Management LLC increased its position in Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 5.4% during the third quarter, Holdings Channel reports. The fund owned 837,271 shares of the information technology service provider’s stock after buying an additional 42,975 shares during the period. Cognizant Technology Solutions Corp. makes up 2.5% of Alta Capital Management LLC’s holdings, making the stock its 20th largest position. Alta Capital Management LLC’s holdings in Cognizant Technology Solutions Corp. were worth $39,946,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CTSH. Investment Management of Virginia LLC boosted its stake in Cognizant Technology Solutions Corp. by 0.8% in the third quarter. Investment Management of Virginia LLC now owns 16,651 shares of the information technology service provider’s stock worth $794,000 after buying an additional 140 shares during the last quarter. Orrstown Financial Services Inc. boosted its stake in Cognizant Technology Solutions Corp. by 1.0% in the third quarter. Orrstown Financial Services Inc. now owns 21,503 shares of the information technology service provider’s stock worth $1,026,000 after buying an additional 218 shares during the last quarter. Genesee Valley Trust Co. boosted its stake in Cognizant Technology Solutions Corp. by 12.6% in the third quarter. Genesee Valley Trust Co. now owns 10,647 shares of the information technology service provider’s stock worth $508,000 after buying an additional 1,189 shares during the last quarter. Atria Investments LLC boosted its stake in Cognizant Technology Solutions Corp. by 2.8% in the third quarter. Atria Investments LLC now owns 8,796 shares of the information technology service provider’s stock worth $420,000 after buying an additional 241 shares during the last quarter. Finally, FCM Investments TX boosted its stake in Cognizant Technology Solutions Corp. by 1.0% in the third quarter. FCM Investments TX now owns 158,470 shares of the information technology service provider’s stock worth $7,561,000 after buying an additional 1,577 shares during the last quarter. 84.02% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 7.10% during midday trading on Monday, hitting $57.03. The stock had a trading volume of 19,973,055 shares. The stock has a 50-day moving average of $52.14 and a 200-day moving average of $56.53. The firm has a market cap of $34.60 billion, a P/E ratio of 22.28 and a beta of 1.34. Cognizant Technology Solutions Corp. has a 52 week low of $45.44 and a 52 week high of $65.43.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last released its quarterly earnings data on Monday, November 7th. The information technology service provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The business earned $3.45 billion during the quarter, compared to the consensus estimate 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 revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 earnings per share. Analysts forecast that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current fiscal year.

A number of equities analysts have recently commented on the stock. William Blair cut shares of Cognizant Technology Solutions Corp. from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 23rd. Bank of America Corp. cut shares of Cognizant Technology Solutions Corp. from a “buy” rating to an “underperform” rating in a report on Tuesday, November 22nd. Vetr raised shares of Cognizant Technology Solutions Corp. from a “buy” rating to a “strong-buy” rating and set a $61.76 target price on the stock in a report on Monday, November 21st. Zacks Investment Research raised shares of Cognizant Technology Solutions Corp. from a “sell” rating to a “hold” rating in a report on Friday, November 11th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Cognizant Technology Solutions Corp. in a report on Tuesday, November 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Cognizant Technology Solutions Corp. presently has a consensus rating of “Buy” and a consensus price target of $64.99.

In related news, VP Malcolm Frank sold 1,248 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was 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 owns 3,945 shares in the company, valued at $230,782.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Karen Mcloughlin sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $51.27, for a total value 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 approximately $2,697,519.78. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.

Cognizant Technology Solutions Corp. Company Profile

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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