Swiss National Bank reduced its position in shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 1.5% during the third quarter, Holdings Channel reports. The firm owned 1,681,630 shares of the information technology service provider’s stock after selling 25,700 shares during the period. Swiss National Bank’s holdings in Cognizant Technology Solutions Corp. were worth $80,231,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. Washington Trust Bank increased its stake in shares of Cognizant Technology Solutions Corp. by 6.8% in the second quarter. Washington Trust Bank now owns 1,789 shares of the information technology service provider’s stock worth $102,000 after buying an additional 114 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Cognizant Technology Solutions Corp. during the second quarter worth $123,000. Exane Derivatives increased its stake in shares of Cognizant Technology Solutions Corp. by 22.3% in the second quarter. Exane Derivatives now owns 2,278 shares of the information technology service provider’s stock worth $130,000 after buying an additional 416 shares in the last quarter. First Manhattan Co. increased its stake in shares of Cognizant Technology Solutions Corp. by 16.8% in the second quarter. First Manhattan Co. now owns 2,523 shares of the information technology service provider’s stock worth $144,000 after buying an additional 363 shares in the last quarter. Finally, Assetmark Inc. increased its stake in shares of Cognizant Technology Solutions Corp. by 29.4% in the second quarter. Assetmark Inc. now owns 2,699 shares of the information technology service provider’s stock worth $154,000 after buying an additional 613 shares in 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 55.08 on Thursday. The stock’s 50 day moving average is $52.33 and its 200-day moving average is $56.43. The company has a market cap of $33.42 billion, a P/E ratio of 21.52 and a beta of 1.34. Cognizant Technology Solutions Corp. has a 12-month low of $45.44 and a 12-month high of $65.25.

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

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A number of equities research analysts recently weighed in on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Cognizant Technology Solutions Corp. in a research report on Thursday. Needham & Company LLC lowered their price objective on shares of Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, August 8th. Jefferies Group reaffirmed a “buy” rating and set a $63.00 price objective on shares of Cognizant Technology Solutions Corp. in a research report on Wednesday. Deutsche Bank AG reaffirmed a “buy” rating and set a $69.00 price objective on shares of Cognizant Technology Solutions Corp. in a research report on Friday, October 21st. Finally, Vetr cut shares of Cognizant Technology Solutions Corp. from a “strong-buy” rating to a “buy” rating and set a $60.28 target price for the company. in a research report on Monday, November 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $65.32.

In other news, CFO Karen Mcloughlin sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $51.27, for a total value of $512,700.00. Following the completion of the transaction, the chief financial officer now owns 52,614 shares in the company, valued at $2,697,519.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Malcolm Frank sold 1,248 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $58.50, for a total transaction of $73,008.00. Following the completion of the transaction, the vice president now owns 3,945 shares of the company’s stock, valued at approximately $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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