Bridges Investment Counsel Inc. cut its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 60.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,380 shares of the information technology service provider’s stock after selling 9,840 shares during the quarter. Bridges Investment Counsel Inc.’s holdings in Cognizant Technology Solutions Corporation were worth $463,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CTSH. Tredje AP fonden boosted its position in Cognizant Technology Solutions Corporation by 75.1% during the first quarter. Tredje AP fonden now owns 172,823 shares of the information technology service provider’s stock worth $10,286,000 after acquiring an additional 74,109 shares during the last quarter. Majedie Asset Management Ltd boosted its position in Cognizant Technology Solutions Corporation by 16.1% during the first quarter. Majedie Asset Management Ltd now owns 125,569 shares of the information technology service provider’s stock worth $7,474,000 after acquiring an additional 17,432 shares during the last quarter. Westpac Banking Corp boosted its position in Cognizant Technology Solutions Corporation by 26.1% during the first quarter. Westpac Banking Corp now owns 1,357,398 shares of the information technology service provider’s stock worth $83,994,000 after acquiring an additional 281,274 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in Cognizant Technology Solutions Corporation during the first quarter worth about $62,744,000. Finally, Comerica Securities Inc. boosted its position in Cognizant Technology Solutions Corporation by 7.5% during the first quarter. Comerica Securities Inc. now owns 7,778 shares of the information technology service provider’s stock worth $463,000 after acquiring an additional 540 shares during the last quarter. Hedge funds and other institutional investors own 87.56% of the company’s stock.

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Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded down 0.19% during midday trading on Wednesday, reaching $73.83. 664,673 shares of the company traded hands. The stock has a market capitalization of $43.61 billion, a price-to-earnings ratio of 23.69 and a beta of 1.12. The company’s 50 day moving average is $72.09 and its 200-day moving average is $67.25. Cognizant Technology Solutions Corporation has a 12 month low of $49.35 and a 12 month high of $74.77.

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

A number of research firms recently weighed in on CTSH. Needham & Company LLC restated a “buy” rating and set a $78.00 price target (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, August 9th. Berenberg Bank upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $85.00 in a research report on Tuesday, August 8th. Zacks Investment Research lowered shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. KeyCorp restated a “buy” rating and set a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Thursday, October 12th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $81.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Thursday, October 12th. Four analysts have rated the stock with a hold rating, twenty-one 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 $73.66.

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 sale, the insider now owns 9,429 shares in the company, valued at $668,798.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Rajeev Mehta sold 34,437 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $72.54, for a total transaction of $2,498,059.98. Following the sale, the president now owns 170,063 shares in the company, valued at approximately $12,336,370.02. The disclosure for this sale can be found here. Insiders have sold 284,547 shares of company stock worth $20,335,827 in the last quarter. Insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corporation Company 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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