Synovus Financial Corp Purchases 4,010 Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH)

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Synovus Financial Corp boosted its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 6.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,428 shares of the information technology service provider’s stock after buying an additional 4,010 shares during the period. Synovus Financial Corp’s holdings in Cognizant Technology Solutions were worth $4,731,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTSH. Vanguard Group Inc boosted its stake in shares of Cognizant Technology Solutions by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 43,571,388 shares of the information technology service provider’s stock worth $3,361,533,000 after acquiring an additional 241,595 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter worth $514,000. Eqis Capital Management Inc. boosted its stake in shares of Cognizant Technology Solutions by 2.5% during the 4th quarter. Eqis Capital Management Inc. now owns 18,028 shares of the information technology service provider’s stock worth $1,144,000 after acquiring an additional 446 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Cognizant Technology Solutions by 39.4% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 8,959 shares of the information technology service provider’s stock worth $569,000 after acquiring an additional 2,533 shares during the last quarter. Finally, Compass Capital Management Inc. boosted its stake in shares of Cognizant Technology Solutions by 7.5% during the 4th quarter. Compass Capital Management Inc. now owns 395,003 shares of the information technology service provider’s stock worth $25,075,000 after acquiring an additional 27,650 shares during the last quarter. 89.09% of the stock is currently owned by institutional investors.

Several brokerages have recently commented on CTSH. TheStreet downgraded shares of Cognizant Technology Solutions from a “b-” rating to a “c+” rating in a research report on Monday, June 3rd. ValuEngine upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Argus downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Daiwa Capital Markets downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, UBS Group reduced their price target on shares of Cognizant Technology Solutions from $76.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Four research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Cognizant Technology Solutions currently has an average rating of “Hold” and an average price target of $75.55.

Shares of CTSH stock traded up $1.16 during trading hours on Tuesday, hitting $63.72. The company’s stock had a trading volume of 4,638,208 shares, compared to its average volume of 4,792,592. The company has a market capitalization of $36.27 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.90 and a quick ratio of 2.90. Cognizant Technology Solutions Corp has a 12-month low of $56.73 and a 12-month high of $83.35.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Thursday, May 2nd. The information technology service provider reported $0.91 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.12). Cognizant Technology Solutions had a net margin of 12.39% and a return on equity of 21.50%. The business had revenue of $4.11 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same period last year, the company earned $0.94 earnings per share. The firm’s revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that Cognizant Technology Solutions Corp will post 3.91 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 22nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Tuesday, May 21st. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 19.90%.

In other news, EVP Allen Shaheen sold 396 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $73.80, for a total value of $29,224.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Matthew W. Friedrich sold 452 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $61.55, for a total transaction of $27,820.60. The disclosure for this sale can be found here. Insiders have sold 25,159 shares of company stock worth $1,582,386 over the last three months. 0.56% of the stock is currently owned by insiders.

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Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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

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