Wellington Management Group LLP Sells 65,660 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Wellington Management Group LLP lowered its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.1% in the 3rd quarter, Holdings Channel reports. The fund owned 6,061,047 shares of the information technology service provider’s stock after selling 65,660 shares during the quarter. Wellington Management Group LLP’s holdings in Cognizant Technology Solutions were worth $467,792,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CTSH. Cibc World Market Inc. boosted its holdings in shares of Cognizant Technology Solutions by 19,850.5% during the 2nd quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock valued at $205,096,000 after acquiring an additional 3,000,996 shares during the last quarter. Pzena Investment Management LLC grew its position in Cognizant Technology Solutions by 11.7% in the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock worth $1,265,473,000 after purchasing an additional 1,943,127 shares during the period. Bank of Montreal Can lifted its holdings in shares of Cognizant Technology Solutions by 152.8% during the 2nd quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider’s stock valued at $146,132,000 after buying an additional 1,281,236 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Cognizant Technology Solutions by 276.9% in the 3rd 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 buying an additional 1,167,033 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of 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 worth $126,940,000 after acquiring an additional 978,579 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $81.14 on Friday. The firm has a market cap of $40.23 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 2.20 and a beta of 1.06. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.41. 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 business’s 50 day moving average price is $77.79 and its two-hundred day moving average price is $74.02.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.99 billion. During the same period in the prior year, the firm earned $1.16 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. On average, equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.48%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Analyst Ratings Changes

Several research firms have recently commented on CTSH. TD Cowen raised their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Royal Bank of Canada increased their price objective on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 28th. Mizuho increased their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and an average price target of $79.47.

Insider Transactions at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction 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 transaction, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by insiders.

Cognizant Technology Solutions Company Profile

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.