Mawer Investment Management Ltd. Has $57.33 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Mawer Investment Management Ltd. cut its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 14.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 843,098 shares of the information technology service provider’s stock after selling 141,463 shares during the quarter. Mawer Investment Management Ltd. owned 0.17% of Cognizant Technology Solutions worth $57,331,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. increased its holdings in Cognizant Technology Solutions by 8.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 90,071 shares of the information technology service provider’s stock valued at $6,125,000 after buying an additional 6,703 shares during the period. Royal London Asset Management Ltd. boosted its position in shares of Cognizant Technology Solutions by 0.6% during the 2nd quarter. Royal London Asset Management Ltd. now owns 198,740 shares of the information technology service provider’s stock valued at $13,514,000 after acquiring an additional 1,123 shares in the last quarter. Choreo LLC bought a new stake in Cognizant Technology Solutions in the second quarter valued at about $1,179,000. Prudential PLC raised its position in Cognizant Technology Solutions by 10.5% in the second quarter. Prudential PLC now owns 41,777 shares of the information technology service provider’s stock worth $2,841,000 after purchasing an additional 3,964 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its stake in Cognizant Technology Solutions by 48.5% during the second quarter. Ashton Thomas Private Wealth LLC now owns 34,546 shares of the information technology service provider’s stock worth $2,349,000 after purchasing an additional 11,280 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Trading Up 0.4 %

NASDAQ:CTSH opened at $76.13 on Tuesday. The business has a 50 day moving average price of $74.01 and a two-hundred day moving average price of $71.50. Cognizant Technology Solutions Co. has a twelve month low of $62.14 and a twelve month high of $80.27. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.04. The company has a market cap of $37.85 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05.

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

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is presently 28.85%.

Analyst Ratings Changes

Several research analysts have issued reports on CTSH shares. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Mizuho reissued a “neutral” rating and set a $82.00 price target on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. Royal Bank of Canada boosted their price target on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 28th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. Finally, Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $77.44.

Insider Transactions at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the transaction, the chief executive officer now owns 46,427 shares of the company’s stock, valued at $3,419,812.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

About Cognizant Technology Solutions

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.