Ownership Action Don’t Lie: Here is What Institutional Investors Think About Cognizant Technology Solutions Corp (NASDAQ:CTSH)

November 25, 2016 - By Dolores Ford   ·   0 Comments

Ownership Action Don't Lie: Here is What Institutional Investors Think About Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Sentiment for Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Cognizant Technology Solutions Corp (NASDAQ:CTSH) institutional sentiment decreased to 0.93 in Q2 2016. Its down -0.04, from 0.97 in 2016Q1. The ratio is negative, as 345 active investment managers opened new and increased holdings, while 356 cut down and sold their positions in Cognizant Technology Solutions Corp. The active investment managers in our partner’s database now hold: 506.90 million shares, down from 535.62 million shares in 2016Q1. Also, the number of active investment managers holding Cognizant Technology Solutions Corp in their top 10 holdings decreased from 50 to 37 for a decrease of 13. Sold All: 65 Reduced: 291 Increased: 278 New Position: 67.

Cognizant Technology Solutions Corporation is a well-known provider of information technology , consulting and business process services. The company has a market cap of $30.68 billion. The Firm operates through four divisions: Financial Services, which includes clients providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers, as well as life sciences customers, including pharmaceutical, biotech and medical device companies; Manufacturing, Retail and Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as clients providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology. It has a 20.28 P/E ratio.

The stock closed at $51.86 during the last session. It is down 14.20% since April 22, 2016 and is downtrending. It has underperformed by 19.61% the S&P500.

Analysts await Cognizant Technology Solutions Corp (NASDAQ:CTSH) to report earnings on February, 13. They expect $0.77 EPS, up 4.05% or $0.03 from last year’s $0.74 per share. CTSH’s profit will be $455.53 million for 16.84 P/E if the $0.77 EPS becomes a reality. After $0.81 actual EPS reported by Cognizant Technology Solutions Corp for the previous quarter, Wall Street now forecasts -4.94% negative EPS growth.

According to Zacks Investment Research, “Cognizant Technology Solutions delivers high-quality, cost-effective, full life cycle solutions to complex software development and maintenance problems that companies face as they transition to e-business. These services are delivered through the use of a seamless on-site and offshore consulting project team. The company’s solutions include application development and integration, application management, re-engineering, and mass change services.”

Genesis Asset Managers Llp holds 15.89% of its portfolio in Cognizant Technology Solutions Corp for 6.50 million shares. Provident Trust Co owns 4.09 million shares or 12.89% of their US portfolio. Moreover, Bluespruce Investments Lp has 10.47% invested in the company for 455,150 shares. The Missouri-based Cortland Associates Inc Mo has invested 9.49% in the stock. Veritas Investment Management Llp, a United Kingdom-based fund reported 782,427 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 12 insider sales for $33.34 million net activity.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) Ratings Coverage

Ratings analysis reveals 62% of Cognizant Technology Solutions Corp.’s analysts are positive. Out of 21 Wall Street analysts rating Cognizant Technology Solutions Corp., 13 give it “Buy”, 2 “Sell” rating, while 6 recommend “Hold”. The lowest target is $48 while the high is $82. The stock’s average target of $65.85 is 26.98% above today’s ($51.86) share price. CTSH was included in 35 notes of analysts from August 6, 2015. The stock of Cognizant Technology Solutions Corp (NASDAQ:CTSH) has “Sell” rating given on Monday, August 10 by Zacks. Goldman Sachs downgraded the stock to “Neutral” rating in Thursday, September 15 report. The rating was maintained by RBC Capital Markets on Tuesday, February 9 with “Outperform”. Wedbush initiated Cognizant Technology Solutions Corp (NASDAQ:CTSH) on Friday, September 9 with “Neutral” rating. The company was initiated on Thursday, September 10 by SunTrust. The company was maintained on Wednesday, July 20 by Citigroup. The stock has “Buy” rating given by Suntrust Robinson on Thursday, September 10. The firm has “Underperform” rating by CLSA given on Wednesday, September 14. On Friday, September 30 the stock rating was initiated by HSBC with “Buy”. Cowen & Co initiated the stock with “Outperform” rating in Friday, February 19 report.

CTSH Company Profile

Cognizant Technology Solutions Corporation, incorporated on April 6, 1988, is a well-known provider of information technology (IT), consulting and business process services. The Firm operates through four divisions: Financial Services, which includes clients providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers, as well as life sciences customers, including pharmaceutical, biotech and medical device companies; Manufacturing, Retail and Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as clients providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology. The Company’s competencies include business, process, activities and IT consulting, application development and systems integration, enterprise information management, application testing, application maintenance and IT infrastructure services.

More recent Cognizant Technology Solutions Corp (NASDAQ:CTSH) news were published by: Businesswire.com which released: “Robbins Arroyo LLP: Cognizant Technology Solutions Corporation (CTSH) Misled …” on November 23, 2016. Also Businesswire.com published the news titled: “SHAREHOLDER ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Cognizant …” on November 18, 2016. Businesswire.com‘s news article titled: “SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Files Class Action …” with publication date: November 18, 2016 was also an interesting one.

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By Dolores Ford


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