Mackenzie Financial Corp Sells 4,332 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Mackenzie Financial Corp cut its position in Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 4.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,566 shares of the information technology service provider’s stock after selling 4,332 shares during the quarter. Mackenzie Financial Corp’s holdings in Cognizant Technology Solutions were worth $6,922,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CTSH. Park Avenue Securities LLC raised its holdings in Cognizant Technology Solutions by 29.4% in the first quarter. Park Avenue Securities LLC now owns 6,911 shares of the information technology service provider’s stock worth $620,000 after purchasing an additional 1,572 shares in the last quarter. Atria Investments LLC increased its holdings in shares of Cognizant Technology Solutions by 15.4% during the first quarter. Atria Investments LLC now owns 31,914 shares of the information technology service provider’s stock valued at $2,862,000 after acquiring an additional 4,259 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of Cognizant Technology Solutions by 1.1% during the first quarter. Mutual of America Capital Management LLC now owns 70,104 shares of the information technology service provider’s stock valued at $6,286,000 after acquiring an additional 745 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Cognizant Technology Solutions by 1,433.3% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 460 shares of the information technology service provider’s stock valued at $41,000 after acquiring an additional 430 shares in the last quarter. Finally, Calamos Advisors LLC increased its holdings in shares of Cognizant Technology Solutions by 15.6% during the first quarter. Calamos Advisors LLC now owns 182,464 shares of the information technology service provider’s stock valued at $16,362,000 after acquiring an additional 24,562 shares in the last quarter. 90.67% of the stock is currently owned by institutional investors.

Insider Transactions at Cognizant Technology Solutions

In other news, Director Leo S. Jr. Mackay sold 3,300 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $52.79, for a total transaction of $174,207.00. Following the completion of the transaction, the director now directly owns 28,310 shares of the company’s stock, valued at approximately $1,494,484.90. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Zein Abdalla sold 4,368 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $65.44, for a total value of $285,841.92. Following the completion of the transaction, the director now directly owns 13,556 shares of the company’s stock, valued at approximately $887,104.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Leo S. Jr. Mackay sold 3,300 shares of the stock in a transaction on Monday, November 7th. The shares were sold at an average price of $52.79, for a total value of $174,207.00. Following the completion of the transaction, the director now directly owns 28,310 shares of the company’s stock, valued at $1,494,484.90. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Cognizant Technology Solutions Trading Up 0.8 %

Shares of CTSH stock opened at $59.97 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.27 and a quick ratio of 2.27. The company has a market cap of $30.82 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.21 and a beta of 1.05. The stock has a 50 day simple moving average of $59.43 and a 200-day simple moving average of $65.67. Cognizant Technology Solutions Co. has a 1-year low of $51.33 and a 1-year high of $93.47.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Stockholders of record on Friday, November 18th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Thursday, November 17th. Cognizant Technology Solutions’s payout ratio is 24.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Susquehanna Bancshares cut their price objective on shares of Cognizant Technology Solutions from $100.00 to $98.00 in a report on Thursday, July 28th. StockNews.com initiated coverage on shares of Cognizant Technology Solutions in a report on Wednesday, October 12th. They set a “buy” rating on the stock. Bank of America lowered Cognizant Technology Solutions from a “buy” rating to a “neutral” rating and dropped their target price for the company from $81.00 to $68.00 in a research report on Friday, October 21st. Cowen reiterated a “downgrade” rating on shares of Cognizant Technology Solutions in a research report on Thursday, July 28th. Finally, Susquehanna dropped their target price on Cognizant Technology Solutions from $100.00 to $98.00 in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus target price of $73.16.

About Cognizant Technology Solutions

(Get Rating)

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; Healthcare; Products and Resources; and Communications, Media and Technology.

Featured Stories

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating).

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

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.