Quantum Capital Management lowered its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 7.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,735 shares of the information technology service provider’s stock after selling 444 shares during the period. Quantum Capital Management’s holdings in Cognizant Technology Solutions Corporation were worth $381,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CTSH. Acadian Asset Management LLC lifted its stake in Cognizant Technology Solutions Corporation by 253.9% during the first quarter. Acadian Asset Management LLC now owns 3,231 shares of the information technology service provider’s stock worth $192,000 after purchasing an additional 2,318 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Cognizant Technology Solutions Corporation by 1,661.8% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 5,532 shares of the information technology service provider’s stock worth $329,000 after purchasing an additional 5,218 shares during the last quarter. Swiss National Bank lifted its stake in Cognizant Technology Solutions Corporation by 27.8% during the first quarter. Swiss National Bank now owns 2,149,730 shares of the information technology service provider’s stock worth $127,952,000 after purchasing an additional 468,100 shares during the last quarter. World Asset Management Inc lifted its stake in Cognizant Technology Solutions Corporation by 19.6% during the first quarter. World Asset Management Inc now owns 67,238 shares of the information technology service provider’s stock worth $4,002,000 after purchasing an additional 11,030 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its stake in Cognizant Technology Solutions Corporation by 11.8% during the first quarter. UBS Asset Management Americas Inc. now owns 1,723,134 shares of the information technology service provider’s stock worth $102,561,000 after purchasing an additional 182,493 shares during the last quarter. 87.59% of the stock is owned by hedge funds and other institutional investors.

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Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded down 0.482% on Thursday, reaching $72.111. The company’s stock had a trading volume of 500,571 shares. The firm has a 50-day moving average of $70.75 and a 200-day moving average of $65.41. Cognizant Technology Solutions Corporation has a one year low of $45.44 and a one year high of $73.00. The company has a market capitalization of $42.59 billion, a PE ratio of 23.135 and a beta of 1.14.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the previous year, the firm posted $0.87 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. Analysts predict that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Tuesday, August 22nd were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend 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%.

In other news, insider Venkat Krishnaswamy sold 8,151 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $70.93, for a total transaction of $578,150.43. Following the completion of the sale, the insider now owns 9,429 shares of the company’s stock, valued at $668,798.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allen Shaheen sold 442 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $70.58, for a total transaction of $31,196.36. The disclosure for this sale can be found here. Insiders have sold 275,756 shares of company stock valued at $19,685,771 in the last ninety days. Insiders own 1.08% of the company’s stock.

Several equities research analysts have issued reports on CTSH shares. Deutsche Bank AG reaffirmed a “buy” rating and set a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, May 31st. Societe Generale lowered Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and lifted their price target for the stock from $68.00 to $74.00 in a research note on Monday, June 5th. BidaskClub raised Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. Robert W. Baird reaffirmed a “buy” rating and set a $80.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Sunday, September 10th. Finally, Pacific Crest reaffirmed an “overweight” rating and set a $75.00 price target (up previously from $73.00) on shares of Cognizant Technology Solutions Corporation in a research note on Thursday, June 1st. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cognizant Technology Solutions Corporation currently has an average rating of “Buy” and an average price target of $72.51.

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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