Wetherby Asset Management Inc. boosted its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 11.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,918 shares of the information technology service provider’s stock after buying an additional 1,028 shares during the period. Wetherby Asset Management Inc.’s holdings in Cognizant Technology Solutions Corporation were worth $658,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Guardian Life Insurance Co. of America raised its stake in 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 valued at $140,000 after buying an additional 27 shares during the period. Assetmark Inc. raised its stake in 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 valued at $154,000 after buying an additional 505 shares during the period. IFP Advisors Inc raised its stake in 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 valued at $160,000 after buying an additional 781 shares during the period. Acadian Asset Management LLC raised its stake in 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 valued at $192,000 after buying an additional 2,318 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in Cognizant Technology Solutions Corporation during the first quarter valued at about $192,000. 89.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 70.61 on Friday. The firm has a market capitalization of $41.70 billion, a P/E 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. The firm’s 50-day moving average is $68.68 and its 200-day moving average is $62.67.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.11. The business had revenue of $3.67 billion during 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%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 EPS. Equities analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Friday, August 18th. Cognizant Technology Solutions Corporation’s payout ratio is presently 19.17%.

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CTSH has been the topic of several analyst reports. Credit Suisse Group set a $70.00 price target on shares of Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a research report on Saturday, May 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price target (up from $65.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, May 5th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $67.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Friday, May 5th. Vetr lowered shares of Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating and set a $67.50 price target on the stock. in a research report on Monday, May 1st. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, May 31st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $70.02.

In other news, COO Srinivasan Veeraraghavachary sold 2,500 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $1,928,715. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gajakarnan Vibushanan Kandiah sold 1,500 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $65.32, for a total value of $97,980.00. Following the transaction, the insider now directly owns 12,015 shares of the company’s stock, 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 valued at $5,306,449 in the last ninety days. Insiders own 1.08% of the company’s stock.

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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