Nisa Investment Advisors LLC Has $15.61 Million Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Nisa Investment Advisors LLC decreased its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 202,282 shares of the information technology service provider’s stock after selling 7,895 shares during the period. Nisa Investment Advisors LLC’s holdings in Cognizant Technology Solutions were worth $15,612,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Carret Asset Management LLC acquired a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at about $223,000. Frank Rimerman Advisors LLC increased its holdings in shares of Cognizant Technology Solutions by 17.7% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 6,116 shares of the information technology service provider’s stock valued at $472,000 after acquiring an additional 918 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Cognizant Technology Solutions by 1.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 1,275,786 shares of the information technology service provider’s stock valued at $97,601,000 after acquiring an additional 18,861 shares during the last quarter. GHP Investment Advisors Inc. increased its holdings in shares of Cognizant Technology Solutions by 7.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 65,444 shares of the information technology service provider’s stock valued at $5,051,000 after acquiring an additional 4,651 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Cognizant Technology Solutions by 8.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 46,134 shares of the information technology service provider’s stock valued at $3,561,000 after buying an additional 3,647 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the transaction, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

CTSH has been the topic of a number of research analyst reports. Barclays raised their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. Bank of America raised Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their target price for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. Robert W. Baird raised their target price on Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.58.

Cognizant Technology Solutions Trading Up 0.7 %

Shares of CTSH opened at $75.52 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. The company has a market cap of $37.43 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 2.16 and a beta of 1.05. The stock has a fifty day moving average price of $76.48 and a two-hundred day moving average price of $71.91. Cognizant Technology Solutions Co. has a 52-week low of $62.14 and a 52-week high of $80.27.

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

Cognizant Technology Solutions 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.