Mediolanum International Funds Ltd Makes New Investment in Cognizant Technology Solutions Corporation $CTSH

Mediolanum International Funds Ltd bought a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 17,426 shares of the information technology service provider’s stock, valued at approximately $1,169,000.

Several other institutional investors also recently modified their holdings of the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Cognizant Technology Solutions during the 2nd quarter worth $74,917,000. State Street Corp raised its position in Cognizant Technology Solutions by 0.6% in the 2nd quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider’s stock valued at $1,980,524,000 after buying an additional 157,427 shares during the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Cognizant Technology Solutions in the third quarter valued at approximately $4,422,000. Thrivent Financial for Lutherans increased its stake in Cognizant Technology Solutions by 60.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 39,474 shares of the information technology service provider’s stock valued at $3,079,000 after buying an additional 14,946 shares during the last quarter. Finally, Summit Global Investments increased its position in shares of Cognizant Technology Solutions by 245.1% in the second quarter. Summit Global Investments now owns 35,588 shares of the information technology service provider’s stock valued at $2,777,000 after acquiring an additional 25,276 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 10.1%

Cognizant Technology Solutions stock opened at $74.50 on Wednesday. The company’s 50-day moving average price is $82.92 and its two-hundred day moving average price is $74.98. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.04. The stock has a market cap of $35.96 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.59 and a beta of 0.95. Cognizant Technology Solutions Corporation has a twelve month low of $65.15 and a twelve month high of $90.82.

Insider Buying and Selling

In related news, CAO John Sunshin Kim sold 2,500 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $80.00, for a total value of $200,000.00. Following the completion of the sale, the chief accounting officer directly owned 36,149 shares in the company, valued at $2,891,920. The trade was a 6.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ravi Kumar Singisetti sold 2,950 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $85.06, for a total value of $250,927.00. Following the transaction, the chief executive officer owned 75,209 shares in the company, valued at $6,397,277.54. The trade was a 3.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 27,706 shares of company stock valued at $2,317,281. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

CTSH has been the subject of several analyst reports. Wells Fargo & Company reissued an “overweight” rating and issued a $98.00 target price (up from $87.00) on shares of Cognizant Technology Solutions in a research note on Wednesday, January 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research report on Monday, December 29th. Royal Bank Of Canada dropped their target price on shares of Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating on the stock in a report on Thursday, October 30th. William Blair upgraded Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a report on Friday, November 21st. Finally, Susquehanna reissued a “positive” rating and set a $98.00 price target on shares of Cognizant Technology Solutions in a research report on Friday, January 23rd. Nine equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average target price of $90.28.

About Cognizant Technology Solutions

Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.