Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Bought by Twelve Points Wealth Management LLC

Twelve Points Wealth Management LLC grew its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 19.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,696 shares of the information technology service provider’s stock after purchasing an additional 1,901 shares during the period. Twelve Points Wealth Management LLC’s holdings in Cognizant Technology Solutions were worth $899,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in shares of Cognizant Technology Solutions by 276.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock worth $122,603,000 after acquiring an additional 1,167,033 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Cognizant Technology Solutions by 146.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider’s stock valued at $126,940,000 after buying an additional 978,579 shares during the last quarter. ING Groep NV grew its holdings in shares of Cognizant Technology Solutions by 61.5% during the third quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider’s stock worth $191,280,000 after purchasing an additional 943,372 shares during the last quarter. State Street Corp grew its holdings in shares of Cognizant Technology Solutions by 3.6% during the third quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock worth $1,928,405,000 after purchasing an additional 867,176 shares during the last quarter. Finally, Mizuho Markets Americas LLC purchased a new position in shares of Cognizant Technology Solutions during the third quarter worth about $61,744,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTSH. TD Cowen increased 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. Mizuho lifted their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Barclays raised shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $80.00 to $95.00 in a research note on Tuesday, December 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Finally, StockNews.com lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Fifteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $81.19.

Cognizant Technology Solutions Price Performance

NASDAQ CTSH opened at $80.96 on Wednesday. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $82.46. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The stock has a market cap of $40.14 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 2.06 and a beta of 1.07. The company has a 50-day moving average price of $78.85 and a two-hundred day moving average price of $77.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The firm had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. Cognizant Technology Solutions’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts forecast that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

About Cognizant Technology Solutions

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.