Machina Capital S.A.S. Buys 39,925 Shares of Cognizant Technology Solutions Corporation $CTSH

Machina Capital S.A.S. boosted its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 527.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,494 shares of the information technology service provider’s stock after acquiring an additional 39,925 shares during the period. Machina Capital S.A.S.’s holdings in Cognizant Technology Solutions were worth $3,185,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CTSH. Norges Bank bought a new stake in shares of Cognizant Technology Solutions during the 2nd quarter valued at $487,526,000. Allianz Asset Management GmbH increased its stake in Cognizant Technology Solutions by 152.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,708,349 shares of the information technology service provider’s stock worth $211,332,000 after buying an additional 1,636,636 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Cognizant Technology Solutions by 59.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,778,252 shares of the information technology service provider’s stock worth $253,407,000 after buying an additional 1,407,776 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Cognizant Technology Solutions during the second quarter valued at about $74,917,000. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of Cognizant Technology Solutions in the second quarter valued at about $59,176,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

CTSH has been the topic of a number of research analyst reports. Citigroup reissued a “neutral” rating and issued a $86.00 price target (up from $75.00) on shares of Cognizant Technology Solutions in a report on Thursday, January 22nd. William Blair upgraded shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research report on Friday, November 21st. Guggenheim restated a “buy” rating and set a $100.00 target price (up previously from $95.00) on shares of Cognizant Technology Solutions in a research report on Wednesday, January 28th. JPMorgan Chase & Co. raised their target price on shares of Cognizant Technology Solutions from $89.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Monday, January 26th. Nine analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and an average price target of $90.28.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, Director Michael Patsalos-Fox sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $84.23, for a total transaction of $168,460.00. Following the sale, the director directly owned 29,729 shares of the company’s stock, valued at $2,504,073.67. The trade was a 6.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO John Sunshin Kim sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $80.00, for a total value of $200,000.00. Following the sale, the chief accounting officer owned 36,149 shares in the company, valued at approximately $2,891,920. This trade represents a 6.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 27,706 shares of company stock worth $2,317,281 in the last three months. Insiders own 0.32% of the company’s stock.

Cognizant Technology Solutions Trading Down 10.1%

Shares of CTSH opened at $74.50 on Wednesday. The stock has a market capitalization of $35.96 billion, a PE ratio of 17.29, a P/E/G ratio of 1.59 and a beta of 0.95. The company’s fifty day moving average is $82.92 and its 200 day moving average is $74.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.36 and a current ratio of 2.36. Cognizant Technology Solutions Corporation has a fifty-two week low of $65.15 and a fifty-two week high of $90.82.

Cognizant Technology Solutions Profile

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.