Sentry Investments Corp. Has $45.29 Million Position in Cognizant Technology Solutions Corporation (CTSH)

Sentry Investments Corp. boosted its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 7.3% during the first quarter, Holdings Channel reports. The fund owned 760,900 shares of the information technology service provider’s stock after buying an additional 52,000 shares during the period. Sentry Investments Corp.’s holdings in Cognizant Technology Solutions Corporation were worth $45,289,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Moreno Evelyn V raised its position in Cognizant Technology Solutions Corporation by 15.7% in the first quarter. Moreno Evelyn V now owns 136,275 shares of the information technology service provider’s stock worth $8,111,000 after buying an additional 18,540 shares in the last quarter. CENTRAL TRUST Co raised its position in Cognizant Technology Solutions Corporation by 13.8% in the first quarter. CENTRAL TRUST Co now owns 6,368 shares of the information technology service provider’s stock worth $379,000 after buying an additional 770 shares in the last quarter. Zurich Insurance Group Ltd FI raised its position in Cognizant Technology Solutions Corporation by 5.1% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 82,334 shares of the information technology service provider’s stock worth $4,613,000 after buying an additional 4,024 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Cognizant Technology Solutions Corporation by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,216,330 shares of the information technology service provider’s stock worth $68,154,000 after buying an additional 21,726 shares in the last quarter. Finally, Pensionfund DSM Netherlands raised its position in Cognizant Technology Solutions Corporation by 3.3% in the first quarter. Pensionfund DSM Netherlands now owns 62,400 shares of the information technology service provider’s stock worth $3,714,000 after buying an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 90.78% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 67.46 on Tuesday. Cognizant Technology Solutions Corporation has a 52 week low of $45.44 and a 52 week high of $68.10. The firm’s 50-day moving average price is $65.51 and its 200 day moving average price is $59.56. The company has a market cap of $39.73 billion, a price-to-earnings ratio of 24.54 and a beta of 1.14.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings data on Friday, May 5th. The information technology service provider reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.09. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.52 billion. Cognizant Technology Solutions Corporation had a return on equity of 18.77% and a net margin of 12.07%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.80 earnings per share. On average, equities research analysts forecast that Cognizant Technology Solutions Corporation will post $3.66 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Tuesday, May 23rd were given a dividend of $0.15 per share. The ex-dividend date was Thursday, May 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.89%. Cognizant Technology Solutions Corporation’s payout ratio is 21.90%.

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A number of research firms have recently weighed in on CTSH. Morgan Stanley raised their target price on Cognizant Technology Solutions Corporation from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, May 8th. Vetr upgraded Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and set a $67.50 target price on the stock in a report on Friday, April 14th. Credit Suisse Group set a $70.00 price target on Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research report on Saturday, May 6th. Pacific Crest reaffirmed an “overweight” rating and set a $75.00 price target (up from $73.00) on shares of Cognizant Technology Solutions Corporation in a research report on Thursday, June 1st. Finally, BidaskClub downgraded Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $65.53.

In other news, COO Srinivasan Veeraraghavachary sold 12,000 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $62.50, for a total transaction of $750,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gajakarnan Vibushanan Kandiah sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $67.44, for a total value of $674,400.00. Following the transaction, the insider now owns 25,514 shares of the company’s stock, valued at approximately $1,720,664.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,223 shares of company stock valued at $3,748,484. Company insiders own 1.08% of the company’s stock.

About Cognizant Technology Solutions Corporation

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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Institutional Ownership by Quarter for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

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