China Universal Asset Management Co. Ltd. Purchases 1,782 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

China Universal Asset Management Co. Ltd. grew its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 28.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,069 shares of the information technology service provider’s stock after buying an additional 1,782 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $621,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CTSH. Chicago Partners Investment Group LLC bought a new position in shares of Cognizant Technology Solutions in the fourth quarter worth about $443,000. Cibc World Market Inc. raised its position in Cognizant Technology Solutions by 34.0% in the 4th quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider’s stock worth $214,141,000 after purchasing an additional 705,946 shares during the last quarter. Cairn Investment Group Inc. lifted its holdings in Cognizant Technology Solutions by 0.9% during the 4th quarter. Cairn Investment Group Inc. now owns 54,583 shares of the information technology service provider’s stock worth $4,197,000 after buying an additional 480 shares in the last quarter. Gries Financial LLC boosted its position in Cognizant Technology Solutions by 1.9% in the 4th quarter. Gries Financial LLC now owns 23,827 shares of the information technology service provider’s stock valued at $1,832,000 after buying an additional 446 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft increased its stake in shares of Cognizant Technology Solutions by 287.0% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 12,606 shares of the information technology service provider’s stock valued at $969,000 after buying an additional 9,349 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $82.61 on Monday. The firm has a market cap of $40.96 billion, a P/E ratio of 18.28, a PEG ratio of 2.17 and a beta of 1.07. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $83.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The firm’s 50 day moving average price is $79.16 and its two-hundred day moving average price is $77.27.

Insider Activity at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the sale, the chief accounting officer now 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. TD Cowen upped their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird raised their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Finally, Morgan Stanley lifted 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 report on Friday. Sixteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $81.12.

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.