Manitou Investment Management Ltd. Acquires 1,000 Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Manitou Investment Management Ltd. lifted its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 15.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 7,380 shares of the information technology service provider’s stock after buying an additional 1,000 shares during the quarter. Manitou Investment Management Ltd.’s holdings in Cognizant Technology Solutions were worth $445,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CTSH. North Star Investment Management Corp. bought a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at $25,000. Field & Main Bank lifted its position in shares of Cognizant Technology Solutions by 350.0% during the second quarter. Field & Main Bank now owns 450 shares of the information technology service provider’s stock valued at $29,000 after buying an additional 350 shares during the last quarter. Berman Capital Advisors LLC lifted its position in shares of Cognizant Technology Solutions by 137.7% during the second quarter. Berman Capital Advisors LLC now owns 637 shares of the information technology service provider’s stock valued at $40,000 after buying an additional 369 shares during the last quarter. Citizens Financial Group Inc RI lifted its position in shares of Cognizant Technology Solutions by 35.3% during the second quarter. Citizens Financial Group Inc RI now owns 716 shares of the information technology service provider’s stock valued at $46,000 after buying an additional 187 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC lifted its position in shares of Cognizant Technology Solutions by 52.7% during the second quarter. YorkBridge Wealth Partners LLC now owns 892 shares of the information technology service provider’s stock valued at $57,000 after buying an additional 308 shares during the last quarter. 91.23% of the stock is currently owned by institutional investors.

Shares of Cognizant Technology Solutions stock traded down $0.17 during midday trading on Friday, hitting $62.86. The company had a trading volume of 1,858,000 shares, compared to its average volume of 4,136,774. The company has a fifty day simple moving average of $60.68 and a 200 day simple moving average of $62.73. The stock has a market cap of $34.28 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.42 and a beta of 1.05. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.13. Cognizant Technology Solutions Corp has a 12-month low of $56.73 and a 12-month high of $74.85.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.03. The firm had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Cognizant Technology Solutions had a return on equity of 20.23% and a net margin of 12.60%. Cognizant Technology Solutions’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 earnings per share. As a group, analysts expect that Cognizant Technology Solutions Corp will post 3.97 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, November 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 19.90%.

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CTSH has been the subject of several analyst reports. HSBC lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and decreased their price target for the company from $72.00 to $70.00 in a research report on Tuesday, July 23rd. Barclays decreased their price target on shares of Cognizant Technology Solutions from $64.00 to $60.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Robert W. Baird set a $76.00 price target on shares of Cognizant Technology Solutions and gave the company a “buy” rating in a research report on Friday, September 6th. Zacks Investment Research lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $66.00 price objective for the company. in a research report on Thursday, September 5th. Finally, Credit Suisse Group decreased their price objective on shares of Cognizant Technology Solutions from $83.00 to $81.00 and set an “outperform” rating for the company in a research report on Monday, September 23rd. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company. Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average price target of $71.48.

In other Cognizant Technology Solutions news, General Counsel Matthew W. Friedrich sold 452 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $64.29, for a total value of $29,059.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Karen Mcloughlin sold 1,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $64.27, for a total value of $64,270.00. Following the completion of the sale, the chief financial officer now directly owns 67,566 shares in the company, valued at approximately $4,342,466.82. The disclosure for this sale can be found here. Insiders sold 18,823 shares of company stock worth $1,169,337 in the last three months. 0.56% of the stock is owned by corporate insiders.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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Institutional Ownership by Quarter for Cognizant Technology Solutions (NASDAQ:CTSH)

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