Janney Montgomery Scott LLC cut its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 25.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,386 shares of the information technology service provider’s stock after selling 9,329 shares during the period. Janney Montgomery Scott LLC’s holdings in Cognizant Technology Solutions Corporation were worth $1,818,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CTSH. Harbour Capital Advisors LLC raised its stake in Cognizant Technology Solutions Corporation by 4,730.3% in the second quarter. Harbour Capital Advisors LLC now owns 463,804 shares of the information technology service provider’s stock worth $6,985,000 after buying an additional 454,202 shares during the last quarter. IBM Retirement Fund raised its stake in Cognizant Technology Solutions Corporation by 112.5% in the second quarter. IBM Retirement Fund now owns 14,323 shares of the information technology service provider’s stock worth $1,063,000 after buying an additional 7,584 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Cognizant Technology Solutions Corporation by 26.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 24,730 shares of the information technology service provider’s stock worth $1,642,000 after buying an additional 5,150 shares during the last quarter. FineMark National Bank & Trust raised its stake in Cognizant Technology Solutions Corporation by 121.7% in the second quarter. FineMark National Bank & Trust now owns 14,278 shares of the information technology service provider’s stock worth $948,000 after buying an additional 7,837 shares during the last quarter. Finally, Tower Bridge Advisors raised its stake in Cognizant Technology Solutions Corporation by 1.8% in the second quarter. Tower Bridge Advisors now owns 177,945 shares of the information technology service provider’s stock worth $11,816,000 after buying an additional 3,103 shares during the last quarter. Hedge funds and other institutional investors own 89.21% of the company’s stock.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 69.59 on Tuesday. The stock has a market capitalization of $40.99 billion, a P/E ratio of 25.31 and a beta of 1.17. Cognizant Technology Solutions Corporation has a 1-year low of $45.44 and a 1-year high of $71.17. The stock has a 50 day moving average of $67.94 and a 200 day moving average of $62.02.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.60 annualized dividend and a dividend yield of 0.86%. Cognizant Technology Solutions Corporation’s dividend payout ratio is presently 19.17%.

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A number of research firms have recently weighed in on CTSH. BMO Capital Markets reiterated a “buy” rating on shares of Cognizant Technology Solutions Corporation in a research note on Friday. Credit Suisse Group set a $80.00 price objective 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 upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Friday. Vetr upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $71.62 price objective on the stock in a research note on Wednesday, August 2nd. Finally, Cowen and Company reiterated a “buy” rating and issued a $75.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $66.50.

In related news, insider Venkat Krishnaswamy sold 6,438 shares of the business’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $64.15, for a total value of $412,997.70. Following the sale, the insider now directly owns 22,363 shares in the company, valued at approximately $1,434,586.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gajakarnan Vibushanan Kandiah sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $67.44, for a total transaction of $674,400.00. Following the completion of the sale, the insider now owns 25,514 shares in the company, valued at $1,720,664.16. The disclosure for this sale can be found here. Insiders sold a total of 51,783 shares of company stock worth $3,472,615 over the last quarter. Insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corporation Company Profile

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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