China Universal Asset Management Co. Ltd. Buys 3,298 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

China Universal Asset Management Co. Ltd. grew its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 110.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,287 shares of the information technology service provider’s stock after purchasing an additional 3,298 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Cognizant Technology Solutions were worth $485,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Cognizant Technology Solutions by 13.6% during the first quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after buying an additional 6,933,908 shares during the last quarter. Pzena Investment Management LLC lifted its stake in shares of 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 valued at $1,265,473,000 after purchasing an additional 1,943,127 shares during the period. Boston Partners boosted its position in shares of Cognizant Technology Solutions by 1.3% during the 1st quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock valued at $569,175,000 after purchasing an additional 101,078 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Cognizant Technology Solutions by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock worth $378,483,000 after purchasing an additional 94,209 shares during the period. Finally, Legal & General Group Plc increased its holdings in Cognizant Technology Solutions by 2.7% in the second quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock worth $363,153,000 after purchasing an additional 142,225 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analysts Set New Price Targets

CTSH has been the subject of several recent analyst reports. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. Jefferies Financial Group initiated coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target for the company. Royal Bank of Canada upped their price objective on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft raised their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, Bank of America raised Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $73.00 to $75.00 in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $77.58.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the transaction, the chief executive officer now owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by company insiders.

Cognizant Technology Solutions Stock Down 1.5 %

CTSH opened at $74.35 on Thursday. Cognizant Technology Solutions Co. has a fifty-two week low of $62.14 and a fifty-two week high of $80.27. The firm has a market capitalization of $36.85 billion, a P/E ratio of 16.94, a PEG ratio of 2.16 and a beta of 1.05. The company’s 50-day moving average is $76.43 and its 200 day moving average is $71.93. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.10 EPS. Research analysts expect that Cognizant Technology Solutions Co. will post 4.62 earnings per share for the current fiscal year.

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.