Mandel Adds to Holdings in Cognizant

GuruFocus.com

Guru Steve Mandel (Trades, Portfolio), founder of Lone Pine Capital, a privately owned hedge fund sponsor based in Connecticut, added to his holdings in Cognizant Technology Solutions Corp (CTSH) Monday. Mandel paid $44.76 per share - a 4% increase. Added to shares he bought two weeks ago at the price of $43.67 per share, his holdings in the company total of 32,137,335 shares. Shares sold for $46.22 when the market ended trading on Tuesday.


Cognizant, headquartered in Teaneck, New Jersey, began operations in 1994. Initially a technology unit of Dun & Bradstreet located in India, the company began serving external clients in 1996; the following year, its headquarters relocated to New Jersey.

Earlier this year, Cognizant acquired itaas (interactive television and application solutions) Interactive TV Solutions, a video solutions company based in Atlanta, Georgia. At the time, Cognizant said the purchase would enable it to become more involved in cable and telecommunications.

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With services tailored for industry needs, Cognizant helps its clients put emerging technologies to work for them. The company has a market cap of $28.1 billion, a P/E ratio of 20.90 and a P/S ratio of 2.90. Cognizant had an annual average earnings growth of 32.50% over the past decade.

Information on the transaction can be found at GuruFocus' Real Time Picks.

GuruFocus rated Cognizant a business predictability rank of 4 stars.

This article first appeared on GuruFocus.
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