Massachusetts Financial Services Co. MA trimmed its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH – Free Report) by 7.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,219,793 shares of the information technology service provider’s stock after selling 334,886 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Cognizant Technology Solutions were worth $285,849,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. NBC Securities Inc. acquired a new stake in Cognizant Technology Solutions during the third quarter worth about $27,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Cognizant Technology Solutions by 272.1% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 573 shares of the information technology service provider’s stock valued at $37,000 after acquiring an additional 419 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Cognizant Technology Solutions by 33.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 630 shares of the information technology service provider’s stock worth $41,000 after purchasing an additional 158 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in Cognizant Technology Solutions by 1,025.4% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 664 shares of the information technology service provider’s stock valued at $43,000 after purchasing an additional 605 shares during the last quarter. Finally, Resurgent Financial Advisors LLC bought a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at about $45,000. Institutional investors and hedge funds own 90.77% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently commented on CTSH. Jefferies Financial Group raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and raised their price objective for the stock from $70.00 to $85.00 in a report on Thursday, January 11th. Societe Generale reissued a “sell” rating and set a $67.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. UBS Group initiated coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, November 7th. They issued a “neutral” rating and a $70.00 target price on the stock. Mizuho initiated coverage on shares of Cognizant Technology Solutions in a report on Tuesday, January 30th. They set a “neutral” rating and a $82.00 price target on the stock. Finally, Redburn Atlantic started coverage on Cognizant Technology Solutions in a research note on Thursday, November 16th. They issued a “neutral” rating and a $68.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $74.36.
Cognizant Technology Solutions Trading Down 0.4 %
Shares of Cognizant Technology Solutions stock opened at $77.59 on Tuesday. The firm’s 50-day moving average price is $74.66 and its 200 day moving average price is $70.57. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $38.90 billion, a PE ratio of 18.88, a P/E/G ratio of 1.92 and a beta of 1.08. Cognizant Technology Solutions Co. has a twelve month low of $56.45 and a twelve month high of $78.89.
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.
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