In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Cognizant Technology Solutions Corp. (NASDAQ:CTSH) reported that Vanguard Group Inc. has picked up 39,165,838 of common stock as of 2017-02-10.
The acquisition brings the aggregate amount owned by Vanguard Group Inc. to a total of 39,165,838 representing a 6.45% stake in the company.
For those not familiar with the company, Cognizant Technology Solutions Corporation is a provider of information technology (IT), consulting and business process services. The Company operates through four segments: Financial Services, which includes customers 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 customers providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology. The Company’s competencies include business, process, operations and IT consulting, application development and systems integration, enterprise information management, application testing, application maintenance and IT infrastructure services.
A glance at Cognizant Technology Solutions Corp. (NASDAQ:CTSH)’s key stats reveals a current market capitalization of 35.96 billion based on 606.60 million shares outstanding and a price at last close of $57.68 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2014-12-16, Patsalos-Fox picked up 10,000 at a purchase price of $51.70. This brings their total holding to 11,028 as of the date of the filing.
On the sell side, the most recent transaction saw Kandiah unload 20,000 shares at a sale price of $55.53. This brings their total holding to 12,072.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Cognizant Technology Solutions Corp. (NASDAQ:CTSH) as things move forward to see if its progress aligns with these transactions.
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