Simonbaker & Partners LLC raised its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,853 shares of the information technology service provider’s stock after acquiring an additional 110 shares during the quarter. Simonbaker & Partners LLC’s holdings in Cognizant Technology Solutions Corporation were worth $322,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Comgest Global Investors S.A.S. increased its position in shares of Cognizant Technology Solutions Corporation by 57.7% in the second quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock valued at $395,400,000 after acquiring an additional 2,178,800 shares during the period. Atlantic Trust Group LLC increased its position in shares of Cognizant Technology Solutions Corporation by 1.3% in the second quarter. Atlantic Trust Group LLC now owns 637,050 shares of the information technology service provider’s stock valued at $42,300,000 after acquiring an additional 8,245 shares during the period. Oak Ridge Investments LLC increased its position in shares of Cognizant Technology Solutions Corporation by 7.1% in the second quarter. Oak Ridge Investments LLC now owns 169,645 shares of the information technology service provider’s stock valued at $11,264,000 after acquiring an additional 11,316 shares during the period. Private Advisor Group LLC increased its position in shares of Cognizant Technology Solutions Corporation by 173.9% in the first quarter. Private Advisor Group LLC now owns 30,271 shares of the information technology service provider’s stock valued at $1,219,000 after acquiring an additional 19,218 shares during the period. Finally, First Financial Corp IN increased its position in shares of Cognizant Technology Solutions Corporation by 1.4% in the second quarter. First Financial Corp IN now owns 17,816 shares of the information technology service provider’s stock valued at $1,183,000 after acquiring an additional 240 shares during the period. Hedge funds and other institutional investors own 87.59% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 0.28% on Friday, hitting $72.06. 3,568,271 shares of the stock traded hands. The stock has a market cap of $42.56 billion, a P/E ratio of 23.12 and a beta of 1.14. The stock’s 50 day moving average price is $70.75 and its 200 day moving average price is $65.41. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $73.00.

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

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

In other news, COO Srinivasan Veeraraghavachary sold 2,500 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $73.00, for a total value of $182,500.00. Following the transaction, the chief operating officer now owns 24,459 shares of the company’s stock, valued at approximately $1,785,507. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chandrasekaran Ramakrishnan sold 25,000 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $73.00, for a total transaction of $1,825,000.00. Following the completion of the transaction, the insider now directly owns 286,923 shares in the company, valued at approximately $20,945,379. The disclosure for this sale can be found here. Insiders have sold a total of 275,756 shares of company stock worth $19,685,771 in the last three months. Insiders own 1.08% of the company’s stock.

A number of equities analysts have issued reports on the stock. Vetr upgraded shares of Cognizant Technology Solutions Corporation from a “sell” rating to a “buy” rating and set a $76.85 price objective on the stock in a research report on Tuesday. Bank of America Corporation restated a “buy” rating and issued a $86.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Tuesday, September 12th. Wedbush restated an “outperform” rating on shares of Cognizant Technology Solutions Corporation in a research report on Monday, September 18th. KeyCorp restated a “buy” rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Friday, September 8th. Finally, Robert W. Baird restated a “buy” rating and issued a $80.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Sunday, September 10th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Cognizant Technology Solutions Corporation presently has a consensus rating of “Buy” and an average target price of $72.51.

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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.

Institutional Ownership by Quarter for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

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