Busey Trust CO increased its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 83,154 shares of the information technology service provider’s stock after buying an additional 971 shares during the period. Busey Trust CO’s holdings in Cognizant Technology Solutions Corporation were worth $5,522,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of Cognizant Technology Solutions Corporation by 3,470.1% in the first quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock valued at $2,425,316,000 after buying an additional 39,606,526 shares during the period. Comgest Global Investors S.A.S. acquired a new stake in shares of Cognizant Technology Solutions Corporation during the first quarter valued at about $224,748,000. Thrivent Financial For Lutherans boosted its stake in shares of Cognizant Technology Solutions Corporation by 11,666.2% in the first quarter. Thrivent Financial For Lutherans now owns 2,468,550 shares of the information technology service provider’s stock valued at $146,928,000 after buying an additional 2,447,570 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Cognizant Technology Solutions Corporation by 112.5% in the first quarter. Alliancebernstein L.P. now owns 4,487,749 shares of the information technology service provider’s stock valued at $267,111,000 after buying an additional 2,375,626 shares during the period. Finally, SRS Investment Management LLC acquired a new stake in shares of Cognizant Technology Solutions Corporation during the first quarter valued at about $134,797,000. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Corporation (CTSH) opened at 71.18 on Friday. The firm has a 50-day moving average price of $67.94 and a 200 day moving average price of $62.02. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $71.57. The firm has a market capitalization of $41.92 billion, a P/E ratio of 25.89 and a beta of 1.17.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the business posted $0.87 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. Analysts forecast that Cognizant Technology Solutions Corporation will post $3.68 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be given a dividend of $0.15 per share. The ex-dividend date is Friday, August 18th. This represents a $0.60 annualized dividend and a yield of 0.84%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 19.17%.

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Several equities research analysts have issued reports on the stock. BMO Capital Markets reaffirmed a “buy” rating on shares of Cognizant Technology Solutions Corporation in a research note on Friday. Credit Suisse Group set a $80.00 target price on shares of Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a research note on Friday. They noted that the move was a valuation call. Loop Capital raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Friday. Vetr raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $71.62 target price on the stock in a research note on Wednesday. Finally, Cowen and Company reaffirmed a “buy” rating and set a $75.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $66.50.

In other news, insider Debashis Chatterjee sold 3,452 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $69.50, for a total value of $239,914.00. Following the transaction, the insider now directly owns 42,628 shares in the company, valued at approximately $2,962,646. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Srinivasan Veeraraghavachary sold 12,000 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $62.50, for a total value of $750,000.00. The disclosure for this sale can be found here. Insiders have sold 63,783 shares of company stock worth $4,222,615 over the last quarter. 1.08% of the stock is currently owned by company insiders.

About Cognizant Technology Solutions Corporation

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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

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