Candriam Luxembourg S.C.A. raised its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 7.0% during the second quarter, Holdings Channel reports. The institutional investor owned 39,364 shares of the information technology service provider’s stock after buying an additional 2,569 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Cognizant Technology Solutions Corporation were worth $2,614,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its position 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 worth $2,425,316,000 after buying an additional 39,606,526 shares in the last quarter. Comgest Global Investors S.A.S. acquired a new position in shares of Cognizant Technology Solutions Corporation during the first quarter worth about $224,748,000. Thrivent Financial For Lutherans increased its position 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 worth $146,928,000 after buying an additional 2,447,570 shares in the last quarter. Alliancebernstein L.P. increased its position 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 worth $267,111,000 after buying an additional 2,375,626 shares in the last quarter. Finally, SRS Investment Management LLC acquired a new position in shares of Cognizant Technology Solutions Corporation during the first quarter worth about $134,797,000. Institutional investors own 89.21% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 71.01 on Thursday. The stock has a market capitalization of $41.82 billion, a P/E ratio of 25.83 and a beta of 1.17. Cognizant Technology Solutions Corporation has a one year low of $45.44 and a one year high of $71.08. The firm’s 50-day moving average price is $68.52 and its 200-day moving average price is $62.51.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings results 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 analysts’ expectations of $3.65 billion. During the same quarter last year, the company posted $0.87 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities research analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders 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 dividend yield of 0.84%. Cognizant Technology Solutions Corporation’s payout ratio is 19.17%.

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A number of equities analysts have issued reports on CTSH shares. SunTrust Banks, Inc. upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Thursday, April 13th. Morgan Stanley increased their price target on Cognizant Technology Solutions Corporation from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, May 8th. Needham & Company LLC increased their price target on Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Vetr upgraded Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and set a $67.50 price target on the stock in a research report on Friday, April 14th. Finally, Robert W. Baird increased their price target on Cognizant Technology Solutions Corporation from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, May 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $70.02.

In related news, insider Sean Middleton sold 1,890 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $65.00, for a total transaction of $122,850.00. Following the sale, the insider now owns 2,108 shares in the company, valued at $137,020. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Srinivasan Veeraraghavachary sold 3,069 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $65.00, for a total transaction of $199,485.00. Following the sale, the chief operating officer now owns 24,737 shares in the company, valued at approximately $1,607,905. The disclosure for this sale can be found here. Insiders have sold 77,528 shares of company stock worth $5,306,449 in the last ninety days. Corporate 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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