DekaBank Deutsche Girozentrale reduced its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 15.0% during the second quarter, Holdings Channel reports. The fund owned 236,451 shares of the information technology service provider’s stock after selling 41,705 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Cognizant Technology Solutions Corporation were worth $15,815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Guardian Life Insurance Co. of America raised its position in shares of Cognizant Technology Solutions Corporation by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock worth $140,000 after buying an additional 27 shares during the last quarter. Assetmark Inc. raised its position in shares of Cognizant Technology Solutions Corporation by 24.2% in the first quarter. Assetmark Inc. now owns 2,592 shares of the information technology service provider’s stock worth $154,000 after buying an additional 505 shares during the last quarter. IFP Advisors Inc raised its position in shares of Cognizant Technology Solutions Corporation by 40.8% in the first quarter. IFP Advisors Inc now owns 2,696 shares of the information technology service provider’s stock worth $160,000 after buying an additional 781 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Cognizant Technology Solutions Corporation by 253.9% in the first quarter. Acadian Asset Management LLC now owns 3,231 shares of the information technology service provider’s stock worth $192,000 after buying an additional 2,318 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Cognizant Technology Solutions Corporation during the first quarter worth approximately $192,000. Institutional investors and hedge funds own 89.21% of the company’s stock.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 70.61 on Friday. The stock’s 50 day moving average price is $68.68 and its 200 day moving average price is $62.67. The firm has a market cap of $41.70 billion, a price-to-earnings ratio of 22.65 and a beta of 1.17. Cognizant Technology Solutions Corporation has a 52 week low of $45.44 and a 52 week high of $71.57.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. Cognizant Technology Solutions Corporation’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS. On average, equities research analysts predict that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current year.

The company 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 dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.60 dividend on an annualized basis and a yield of 0.85%. Cognizant Technology Solutions Corporation’s dividend payout ratio is currently 19.17%.

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A number of analysts have weighed in on the company. Zacks Investment Research cut Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $78.00 price target (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday. BMO Capital Markets reiterated a “buy” rating and issued a $76.00 price target (up from $69.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, August 4th. Credit Suisse Group set a $80.00 price target on Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Finally, Loop Capital upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and upped their price target for the company from $63.00 to $83.00 in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Cognizant Technology Solutions Corporation currently has an average rating of “Buy” and a consensus price target of $70.02.

In other Cognizant Technology Solutions Corporation news, insider Sean Middleton sold 1,460 shares of the company’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $67.39, for a total value of $98,389.40. Following the sale, the insider now owns 2,308 shares in the company, valued at approximately $155,536.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gajakarnan Vibushanan Kandiah sold 1,500 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $65.32, for a total value of $97,980.00. Following the completion of the sale, the insider now owns 12,015 shares in the company, valued at approximately $784,819.80. The disclosure for this sale can be found here. Insiders have sold a total of 77,528 shares of company stock worth $5,306,449 in the last 90 days. 1.08% of the stock is currently owned by corporate 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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