April 17, 2021

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Crossmark Global Holdings Inc. Has $2.46 Million Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Crossmark Global Holdings Inc. cut its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,028 shares of the information technology service provider’s stock after selling 1,348 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Cognizant Technology Solutions were worth $2,461,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Pzena Investment Management LLC increased its stake in shares of Cognizant Technology Solutions by 0.4% in the third quarter. Pzena Investment Management LLC now owns 8,796,930 shares of the information technology service provider’s stock valued at $610,683,000 after buying an additional 32,921 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in Cognizant Technology Solutions by 21.7% in the third quarter. Diamond Hill Capital Management Inc. now owns 4,834,301 shares of the information technology service provider’s stock worth $335,597,000 after purchasing an additional 861,075 shares during the period. Yacktman Asset Management LP increased its position in Cognizant Technology Solutions by 3.8% in the third quarter. Yacktman Asset Management LP now owns 4,403,093 shares of the information technology service provider’s stock worth $305,663,000 after purchasing an additional 162,449 shares during the period. California Public Employees Retirement System increased its position in Cognizant Technology Solutions by 2.1% in the third quarter. California Public Employees Retirement System now owns 4,021,418 shares of the information technology service provider’s stock worth $279,167,000 after purchasing an additional 81,999 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in Cognizant Technology Solutions by 0.8% in the third quarter. UBS Asset Management Americas Inc. now owns 3,063,084 shares of the information technology service provider’s stock worth $212,639,000 after purchasing an additional 23,802 shares during the period. Institutional investors own 87.66% of the company’s stock.

NASDAQ CTSH opened at $80.24 on Friday. The stock has a market capitalization of $43.51 billion, a P/E ratio of 29.72, a P/E/G ratio of 1.82 and a beta of 1.12. Cognizant Technology Solutions Co. has a 52-week low of $40.01 and a 52-week high of $82.73. The firm has a 50-day moving average price of $80.25 and a 200 day moving average price of $71.22. The company has a quick ratio of 2.61, a current ratio of 2.62 and a debt-to-equity ratio of 0.22.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 28th. The information technology service provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.07. Cognizant Technology Solutions had a net margin of 8.78% and a return on equity of 19.04%. The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.15 billion. On average, equities research analysts expect that Cognizant Technology Solutions Co. will post 3.65 earnings per share for the current fiscal year.

CTSH has been the subject of a number of research reports. Wolfe Research upgraded Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, January 6th. UBS Group lifted their price objective on Cognizant Technology Solutions from $50.00 to $55.00 and gave the stock a “sell” rating in a research report on Friday, November 27th. Societe Generale upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $79.00 to $85.00 in a research report on Thursday, October 29th. The Goldman Sachs Group assumed coverage on Cognizant Technology Solutions in a research report on Thursday, November 19th. They issued a “buy” rating and a $90.00 price objective for the company. Finally, BMO Capital Markets raised their target price on Cognizant Technology Solutions from $77.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, October 29th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. Cognizant Technology Solutions has a consensus rating of “Hold” and an average price target of $73.79.

In other Cognizant Technology Solutions news, Director John Nelson Fox, Jr. sold 6,926 shares of the stock in a transaction that occurred on Thursday, December 3rd. The shares were sold at an average price of $78.07, for a total transaction of $540,712.82. Following the transaction, the director now owns 43,554 shares of the company’s stock, valued at $3,400,260.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Matthew W. Friedrich sold 1,077 shares of the stock in a transaction that occurred on Tuesday, December 8th. The stock was sold at an average price of $80.20, for a total transaction of $86,375.40. Following the transaction, the general counsel now directly owns 5,043 shares in the company, valued at approximately $404,448.60. The disclosure for this sale can be found here. Insiders have sold 10,561 shares of company stock worth $828,293 over the last 90 days. 0.31% of the stock is currently owned by company insiders.

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. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.

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

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