TIAA CREF Investment Management LLC lessened its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 12.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,429,198 shares of the information technology service provider’s stock after selling 331,943 shares during the period. TIAA CREF Investment Management LLC owned 0.41% of Cognizant Technology Solutions Corporation worth $161,299,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CTSH. BlackRock Inc. raised its position in Cognizant Technology Solutions Corporation by 3,470.1% during the first quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock valued at $2,425,316,000 after purchasing an additional 39,606,526 shares in the last quarter. Comgest Global Investors S.A.S. purchased a new position in shares of Cognizant Technology Solutions Corporation in the first quarter worth about $224,748,000. Thrivent Financial For Lutherans increased its holdings 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 during the period. Alliancebernstein L.P. increased its holdings 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 during the period. Finally, SRS Investment Management LLC purchased a new position in shares of Cognizant Technology Solutions Corporation in the first quarter worth about $134,797,000. Institutional investors own 87.64% of the company’s stock.

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In related news, EVP Allen Shaheen sold 442 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $70.58, for a total transaction of $31,196.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $72.00, for a total transaction of $1,800,000.00. Following the sale, the insider now owns 311,923 shares of the company’s stock, valued at approximately $22,458,456. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,330 shares of company stock worth $15,622,069. Insiders own 1.08% of the company’s stock.

Several analysts recently issued reports on CTSH shares. Bank of America Corporation reissued a “buy” rating and issued a $86.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Tuesday. KeyCorp reissued a “buy” rating and issued a $79.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Friday, September 8th. Robert W. Baird reissued a “buy” rating and issued a $80.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Sunday. Zacks Investment Research cut Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $77.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Cognizant Technology Solutions Corporation presently has an average rating of “Buy” and an average target price of $71.43.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded down 0.66% during midday trading on Thursday, hitting $71.79. 131,326 shares of the stock were exchanged. The stock has a market cap of $42.40 billion, a price-to-earnings ratio of 23.03 and a beta of 1.14. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $73.00. The firm has a 50 day moving average of $70.41 and a 200-day moving average of $64.97.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings data 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. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the firm posted $0.87 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities analysts expect that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio is presently 19.17%.

Cognizant Technology Solutions Corporation 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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