JPMorgan Chase & Co. lowered its position in shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 7.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,431,637 shares of the information technology service provider’s stock after selling 467,904 shares during the period. JPMorgan Chase & Co.’s holdings in Cognizant Technology Solutions Corp. were worth $259,464,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTSH. Albion Financial Group UT boosted its stake in Cognizant Technology Solutions Corp. by 0.4% in the second quarter. Albion Financial Group UT now owns 6,830 shares of the information technology service provider’s stock worth $391,000 after buying an additional 25 shares during the last quarter. Gradient Investments LLC boosted its stake in Cognizant Technology Solutions Corp. by 0.6% in the third quarter. Gradient Investments LLC now owns 5,385 shares of the information technology service provider’s stock worth $257,000 after buying an additional 34 shares during the last quarter. LS Investment Advisors LLC boosted its stake in Cognizant Technology Solutions Corp. by 0.3% in the second quarter. LS Investment Advisors LLC now owns 13,412 shares of the information technology service provider’s stock worth $768,000 after buying an additional 46 shares during the last quarter. Commerce Bank boosted its stake in Cognizant Technology Solutions Corp. by 1.5% in the second quarter. Commerce Bank now owns 3,971 shares of the information technology service provider’s stock worth $227,000 after buying an additional 57 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its stake in Cognizant Technology Solutions Corp. by 0.4% in the second quarter. Wedbush Securities Inc. now owns 18,283 shares of the information technology service provider’s stock worth $1,047,000 after buying an additional 75 shares during the last quarter. 84.02% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Cognizant Technology Solutions Corp. (NASDAQ:CTSH)

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 55.63 on Wednesday. Cognizant Technology Solutions Corp. has a 1-year low of $45.44 and a 1-year high of $65.43. The firm has a market capitalization of $33.75 billion, a price-to-earnings ratio of 21.73 and a beta of 1.34. The stock’s 50 day moving average is $52.33 and its 200 day moving average is $56.43.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last issued its earnings results on Monday, November 7th. The information technology service provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The business had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.46 billion. Cognizant Technology Solutions Corp. had a net margin of 11.78% and a return on equity of 19.42%. Cognizant Technology Solutions Corp.’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 earnings per share. Analysts predict that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current fiscal year.

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Several research firms have recently weighed in on CTSH. William Blair reaffirmed a “market perform” rating on shares of Cognizant Technology Solutions Corp. in a report on Tuesday. Deutsche Bank AG reaffirmed a “buy” rating on shares of Cognizant Technology Solutions Corp. in a report on Tuesday. Cantor Fitzgerald set a $67.00 price objective on shares of Cognizant Technology Solutions Corp. and gave the stock a “buy” rating in a report on Tuesday. Vetr lowered shares of Cognizant Technology Solutions Corp. from a “strong-buy” rating to a “buy” rating and set a $61.22 price objective for the company. in a report on Monday. Finally, Bank of America Corp. lowered shares of Cognizant Technology Solutions Corp. from a “buy” rating to an “underperform” rating in a report on Tuesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. Cognizant Technology Solutions Corp. presently has an average rating of “Buy” and a consensus price target of $64.93.

In related news, CFO Karen Mcloughlin sold 10,000 shares of the stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $51.27, for a total transaction of $512,700.00. Following the transaction, the chief financial officer now directly owns 52,614 shares of the company’s stock, valued at $2,697,519.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Malcolm Frank sold 1,248 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $58.50, for a total transaction of $73,008.00. Following the transaction, the vice president now directly owns 3,945 shares in the company, valued at $230,782.50. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

About Cognizant Technology Solutions Corp.

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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