This article first appeared on GuruFocus.
ETF flows have leaned toward selling Cognizant (CTSH) for four straight sessions, and the pace picked up on Wednesday, Oct. 28, with a net $30.0 million sold. More funds traded the other way, with 29 ETFs buying versus 9 selling, but in smaller amounts. The prior three days were modestly negative, at $0.4 million, $1.2 million and $0.8 million, after a $2.8 million inflow on Oct. 22.
For the full record of ETF and guru buying and selling in CTSH, see the CTSH guru trades page.
Which ETFs sold CTSH on Wednesday?
The largest sellers by dollar value were FVD ($35.8 million), FLSP ($1.8 million) and USMV ($0.3 million). In all, 29 ETFs added shares and 9 cut them.
FVD drove the move, cutting 539,750 shares for a $35.8 million reduction and exiting its position entirely. FLSP shed 27,601 shares worth $1.8 million, a 99.88% stake cut, while USMV trimmed 4,152 shares for $0.3 million and TDIV reduced 775 shares for $0.1 million. Cognizant, in the Technology sector’s Information Technology Services industry, has a market cap of $28.2 billion.
Have ETFs been buying or selling CTSH lately?
Over the last 5 reported days, ETFs were net buyers on 1 and net sellers on 4, so the recent trend is mostly selling.
What does CTSH do?
Cognizant Technology Solutions Corp is a multinational professional services company that helps clients modernize technology, reimagine processes, and transform experiences. It operates through four segments: Financial Services; Health Sciences; Products and Resources; and Communications, Media and Technology.
Cognizant posted trailing-12-month revenue of $21.64 billion, up 9.4% over one year, with gross and net margins of 30.7% and 10.3%. It trades at a P/E of 13.42, P/B of 1.95 and P/S of 1.38, against a $28.2 billion market cap. The GF Score is 90, GF Value is $87.18 versus a $62.52 price, the dividend yield is 2.26% and the year-to-date return is -23.31%.
