Tocqueville Asset Management L.P. trimmed its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 7.7% during the second quarter, HoldingsChannel.com reports. The firm owned 93,975 shares of the information technology service provider’s stock after selling 7,815 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Cognizant Technology Solutions were worth $5,957,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Cognizant Technology Solutions by 4.7% in the first quarter. BlackRock Inc. now owns 47,153,467 shares of the information technology service provider’s stock valued at $3,416,269,000 after purchasing an additional 2,129,464 shares in the last quarter. FMR LLC raised its holdings in Cognizant Technology Solutions by 21.9% during the first quarter. FMR LLC now owns 15,767,608 shares of the information technology service provider’s stock worth $1,142,362,000 after acquiring an additional 2,827,833 shares in the last quarter. Northern Trust Corp raised its holdings in Cognizant Technology Solutions by 3.4% during the first quarter. Northern Trust Corp now owns 7,655,802 shares of the information technology service provider’s stock worth $554,663,000 after acquiring an additional 252,685 shares in the last quarter. Pzena Investment Management LLC raised its holdings in Cognizant Technology Solutions by 0.4% during the first quarter. Pzena Investment Management LLC now owns 7,636,219 shares of the information technology service provider’s stock worth $553,244,000 after acquiring an additional 29,090 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Cognizant Technology Solutions by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 7,217,002 shares of the information technology service provider’s stock worth $457,298,000 after acquiring an additional 482,575 shares in the last quarter. Institutional investors own 88.41% of the company’s stock.

NASDAQ:CTSH traded down $1.34 on Wednesday, hitting $60.40. The company’s stock had a trading volume of 36,348 shares, compared to its average volume of 4,588,915. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 2.55. The firm has a fifty day moving average of $64.42. The company has a market cap of $34.50 billion, a price-to-earnings ratio of 15.00, a P/E/G ratio of 1.56 and a beta of 1.01. Cognizant Technology Solutions Corp has a one year low of $56.73 and a one year high of $78.59.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.01. The firm had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.13 billion. Cognizant Technology Solutions had a return on equity of 20.52% and a net margin of 12.61%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.05 earnings per share. On average, equities research analysts anticipate that Cognizant Technology Solutions Corp will post 3.96 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd will be paid a $0.20 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $0.80 annualized dividend and a yield of 1.32%. Cognizant Technology Solutions’s dividend payout ratio is 19.90%.

Several research firms recently issued reports on CTSH. Wells Fargo & Co set a $63.00 target price on Cognizant Technology Solutions and gave the stock a “hold” rating in a report on Friday, May 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $75.00 target price (down previously from $87.00) on shares of Cognizant Technology Solutions in a report on Friday, May 3rd. ValuEngine upgraded Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. JPMorgan Chase & Co. lowered Cognizant Technology Solutions from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $83.00 to $65.00 in a report on Friday, May 3rd. Finally, Bank of America reiterated an “underperform” rating and set a $57.00 target price (down previously from $71.00) on shares of Cognizant Technology Solutions in a report on Monday, May 6th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $74.48.

In other Cognizant Technology Solutions news, CEO Brian Humphries acquired 19,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were purchased at an average price of $61.09 per share, for a total transaction of $1,160,710.00. Following the completion of the purchase, the chief executive officer now directly owns 19,000 shares of the company’s stock, valued at $1,160,710. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Robert Telesmanic sold 3,343 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $60.00, for a total value of $200,580.00. Following the completion of the sale, the senior vice president now owns 7,337 shares in the company, valued at approximately $440,220. The disclosure for this sale can be found here. Insiders sold 47,120 shares of company stock worth $2,960,866 in the last 90 days. Corporate insiders own 0.56% of the company’s stock.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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

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