Bourne Lent Asset Management Inc. boosted its position in shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 24.5% during the second quarter, Holdings Channel reports. The fund owned 6,100 shares of the information technology service provider’s stock after buying an additional 1,200 shares during the period. Bourne Lent Asset Management Inc.’s holdings in Cognizant Technology Solutions Corp. were worth $349,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada raised its position in Cognizant Technology Solutions Corp. by 140.5% in the first quarter. Royal Bank of Canada now owns 1,983,749 shares of the information technology service provider’s stock worth $124,382,000 after buying an additional 1,158,887 shares during the last quarter. AMP Capital Investors Ltd raised its position in Cognizant Technology Solutions Corp. by 1.2% in the first quarter. AMP Capital Investors Ltd now owns 535,884 shares of the information technology service provider’s stock worth $33,466,000 after buying an additional 6,613 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Cognizant Technology Solutions Corp. by 0.3% in the first quarter. Envestnet Asset Management Inc. now owns 646,828 shares of the information technology service provider’s stock worth $40,556,000 after buying an additional 2,219 shares during the last quarter. Simonbaker & Partners LLC purchased a new position in Cognizant Technology Solutions Corp. during the first quarter worth about $236,000. Finally, Edmond DE Rothschild Holding S.A. raised its position in Cognizant Technology Solutions Corp. by 2,381.0% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 52,100 shares of the information technology service provider’s stock worth $3,267,000 after buying an additional 50,000 shares during the last quarter. 87.00% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 0.93% during mid-day trading on Wednesday, reaching $53.45. 3,942,092 shares of the company’s stock traded hands. The stock has a market cap of $32.44 billion, a P/E ratio of 21.55 and a beta of 1.28. The firm has a 50-day moving average price of $57.01 and a 200-day moving average price of $58.98. Cognizant Technology Solutions Corp. has a 1-year low of $51.22 and a 1-year high of $69.80.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last announced its quarterly earnings results on Friday, August 5th. The information technology service provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.05. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.37 billion. Cognizant Technology Solutions Corp. had a net margin of 11.65% and a return on equity of 19.31%. Cognizant Technology Solutions Corp.’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the company posted $0.79 EPS. Equities research analysts anticipate that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current fiscal year.

A number of research analysts have issued reports on CTSH shares. Vetr lowered shares of Cognizant Technology Solutions Corp. from a “strong-buy” rating to a “buy” rating and set a $65.33 target price for the company. in a research note on Monday, September 5th. Cantor Fitzgerald restated a “buy” rating and set a $68.00 price target on shares of Cognizant Technology Solutions Corp. in a research report on Wednesday, September 7th. Credit Agricole SA downgraded shares of Cognizant Technology Solutions Corp. from an “outperform” rating to an “underperform” rating and dropped their price target for the stock from $70.00 to $60.00 in a research report on Wednesday, September 14th. Goldman Sachs Group Inc. downgraded shares of Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $68.00 to $61.00 in a research report on Thursday, September 15th. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and set a $68.00 price target on shares of Cognizant Technology Solutions Corp. in a research report on Friday, July 1st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $66.87.

In other Cognizant Technology Solutions Corp. news, CFO Karen Mcloughlin sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $60.00, for a total transaction of $1,200,000.00. Following the sale, the chief financial officer now directly owns 60,741 shares in the company, valued at approximately $3,644,460. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Francisco Dsouza sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $58.57, for a total transaction of $5,857,000.00. Following the sale, the chief executive officer now owns 422,602 shares in the company, valued at $24,751,799.14. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.

Cognizant Technology Solutions Corp. Company Profile

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.

5 Day Chart for NASDAQ:CTSH

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