Today: Icon Advisers Inc. Co. Reached $2,634,000 position of Cognizant Technology Solutions Corp. (CTSH)

Today: Icon Advisers Inc. Co. Reached $2,634,000 position  of Cognizant Technology Solutions Corp. (CTSH)

Icon Advisers Inc. Co. boosted its stake in shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 318.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,200 shares of the information technology service provider’s stock after buying an additional 42,000 shares during the period. Icon Advisers Inc. Co.’s holdings in Cognizant Technology Solutions Corp. were worth $2,634,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Schroder Investment Management Group increased its position in shares of Cognizant Technology Solutions Corp. by 15.6% in the second quarter. Schroder Investment Management Group now owns 4,193,480 shares of the information technology service provider’s stock valued at $240,034,000 after buying an additional 564,958 shares during the last quarter. Saratoga Research & Investment Management increased its position in shares of Cognizant Technology Solutions Corp. by 10.8% in the second quarter. Saratoga Research & Investment Management now owns 455,167 shares of the information technology service provider’s stock valued at $26,054,000 after buying an additional 44,205 shares during the last quarter. Provident Trust Co. increased its position in shares of Cognizant Technology Solutions Corp. by 2.1% in the second quarter. Provident Trust Co. now owns 4,087,880 shares of the information technology service provider’s stock valued at $233,990,000 after buying an additional 82,520 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Cognizant Technology Solutions Corp. by 314.6% in the third quarter. BNP Paribas Arbitrage SA now owns 523,833 shares of the information technology service provider’s stock valued at $24,992,000 after buying an additional 397,480 shares during the last quarter. Finally, Calvert Investment Management Inc. increased its position in shares of Cognizant Technology Solutions Corp. by 60.8% in the second quarter. Calvert Investment Management Inc. now owns 310,074 shares of the information technology service provider’s stock valued at $17,749,000 after buying an additional 117,271 shares during the last quarter. 84.02% of the stock is owned by hedge funds and other institutional investors.

Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 8.009% on Monday, reaching $57.515. 17,013,239 shares of the company were exchanged. The firm’s 50 day moving average price is $52.14 and its 200 day moving average price is $56.53. Cognizant Technology Solutions Corp. has a 52 week low of $45.44 and a 52 week high of $65.43. The stock has a market capitalization of $34.89 billion, a price-to-earnings ratio of 22.467 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 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The company had revenue of $3.45 billion for the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $0.76 EPS. Equities research analysts anticipate that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current year.

CTSH has been the subject of a number of research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $61.00 price objective (down from $66.00) on shares of Cognizant Technology Solutions Corp. in a report on Sunday, October 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $68.00 price objective on shares of Cognizant Technology Solutions Corp. in a report on Sunday, October 2nd. Jefferies Group dropped their price objective on shares of Cognizant Technology Solutions Corp. from $70.00 to $63.00 and set a “buy” rating for the company in a report on Monday, October 10th. Vetr downgraded shares of Cognizant Technology Solutions Corp. from a “strong-buy” rating to a “buy” rating and set a $60.28 price objective for the company. in a report on Monday, November 7th. Finally, Zacks Investment Research downgraded shares of Cognizant Technology Solutions Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 21st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $64.99.

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

Cognizant Technology Solutions Corp. Company Profile

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