Avantra Family Wealth Inc. bought a new stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,894 shares of the information technology service provider's stock, valued at approximately $761,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Spire Wealth Management increased its position in shares of Cognizant Technology Solutions by 74.7% during the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider's stock worth $37,000 after acquiring an additional 204 shares during the period. Capital Insight Partners LLC increased its position in shares of Cognizant Technology Solutions by 7.2% during the fourth quarter. Capital Insight Partners LLC now owns 9,412 shares of the information technology service provider's stock worth $724,000 after acquiring an additional 630 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Cognizant Technology Solutions by 28.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,069 shares of the information technology service provider's stock worth $621,000 after acquiring an additional 1,782 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $443,000. Finally, Cibc World Market Inc. increased its position in shares of Cognizant Technology Solutions by 34.0% during the fourth quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider's stock worth $214,141,000 after acquiring an additional 705,946 shares during the period. Hedge funds and other institutional investors own 92.44% of the company's stock.
In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,022 shares of the company's stock, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by corporate insiders.
Shares of CTSH opened at $82.61 on Friday. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $83.47. The company has a market capitalization of $40.96 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 2.17 and a beta of 1.07. The firm has a 50-day simple moving average of $79.16 and a 200-day simple moving average of $77.27. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23.
Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.10. The firm had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 earnings per share. On average, equities research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.
A number of brokerages recently commented on CTSH. TD Cowen boosted their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a "hold" rating in a research note on Thursday, October 31st. Morgan Stanley boosted their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. Mizuho boosted their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Finally, Robert W. Baird boosted their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Sixteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $81.12.
View Our Latest Stock Analysis on CTSH
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.
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