Teacher Retirement System of Texas cut its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 909,030 shares of the information technology service provider’s stock after selling 39 shares during the period. Teacher Retirement System of Texas’ holdings in Cognizant Technology Solutions Corporation were worth $60,360,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CTSH. DnB Asset Management AS raised its position in Cognizant Technology Solutions Corporation by 90.0% in the first quarter. DnB Asset Management AS now owns 2,191,587 shares of the information technology service provider’s stock worth $130,443,000 after buying an additional 1,038,062 shares in the last quarter. Moon Capital Management LLC raised its position in Cognizant Technology Solutions Corporation by 109.2% in the first quarter. Moon Capital Management LLC now owns 72,322 shares of the information technology service provider’s stock worth $4,305,000 after buying an additional 37,752 shares in the last quarter. Beese Fulmer Investment Management Inc. raised its position in Cognizant Technology Solutions Corporation by 0.3% in the first quarter. Beese Fulmer Investment Management Inc. now owns 78,370 shares of the information technology service provider’s stock worth $4,665,000 after buying an additional 197 shares in the last quarter. Tompkins Financial Corp raised its position in Cognizant Technology Solutions Corporation by 14.2% in the first quarter. Tompkins Financial Corp now owns 7,847 shares of the information technology service provider’s stock worth $492,000 after buying an additional 977 shares in the last quarter. Finally, BLB&B Advisors LLC raised its position in Cognizant Technology Solutions Corporation by 11.1% in the first quarter. BLB&B Advisors LLC now owns 4,000 shares of the information technology service provider’s stock worth $238,000 after buying an additional 400 shares in the last quarter. 89.21% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 70.01 on Friday. The firm has a market capitalization of $41.35 billion, a price-to-earnings ratio of 22.46 and a beta of 1.17. The stock’s 50 day moving average price is $68.58 and its 200-day moving average price is $62.57. Cognizant Technology Solutions Corporation has a 12 month low of $45.44 and a 12 month high of $71.57.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.11. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 EPS. Equities analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current fiscal year.

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

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A number of research firms recently commented on CTSH. Zacks Investment Research lowered Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research note on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $78.00 price objective (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday. BMO Capital Markets reaffirmed a “buy” rating and issued a $76.00 price objective (up from $69.00) on shares of Cognizant Technology Solutions Corporation in a research note on Friday, August 4th. Credit Suisse Group set a $80.00 price objective on Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a research note on Friday, August 4th. They noted that the move was a valuation call. Finally, Loop Capital raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $63.00 to $83.00 in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cognizant Technology Solutions Corporation presently has a consensus rating of “Buy” and a consensus price target of $70.02.

In other Cognizant Technology Solutions Corporation news, COO Srinivasan Veeraraghavachary sold 2,500 shares of Cognizant Technology Solutions Corporation stock in a transaction on Friday, August 4th. The stock was sold at an average price of $71.00, for a total transaction of $177,500.00. Following the completion of the transaction, the chief operating officer now owns 27,165 shares in the company, valued at $1,928,715. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Patrick Lennox sold 7,315 shares of Cognizant Technology Solutions Corporation stock in a transaction on Monday, August 7th. The shares were sold at an average price of $69.69, for a total value of $509,782.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,528 shares of company stock valued at $5,306,449. 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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