Redmond Asset Management LLC lessened its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 2.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 24,691 shares of the information technology service provider’s stock after selling 605 shares during the quarter. Redmond Asset Management LLC’s holdings in Cognizant Technology Solutions were worth $1,565,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CTSH. BlackRock Inc. boosted its holdings in shares of Cognizant Technology Solutions by 4.7% during the 1st quarter. BlackRock Inc. now owns 47,153,467 shares of the information technology service provider’s stock worth $3,416,269,000 after buying an additional 2,129,464 shares during the period. FMR LLC boosted its holdings in shares of Cognizant Technology Solutions by 21.9% during the 1st quarter. FMR LLC now owns 15,767,608 shares of the information technology service provider’s stock worth $1,142,362,000 after buying an additional 2,827,833 shares during the period. Northern Trust Corp boosted its holdings in shares of Cognizant Technology Solutions by 3.4% during the 1st quarter. Northern Trust Corp now owns 7,655,802 shares of the information technology service provider’s stock worth $554,663,000 after buying an additional 252,685 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of Cognizant Technology Solutions by 0.4% during the 1st quarter. Pzena Investment Management LLC now owns 7,636,219 shares of the information technology service provider’s stock worth $553,244,000 after buying an additional 29,090 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Cognizant Technology Solutions by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 7,217,002 shares of the information technology service provider’s stock worth $457,298,000 after buying an additional 482,575 shares during the period. Hedge funds and other institutional investors own 88.41% of the company’s stock.

Several analysts recently issued reports on CTSH shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $75.00 price objective (down from $87.00) on shares of Cognizant Technology Solutions in a report on Friday, May 3rd. Argus downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Goldman Sachs Group downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $84.00 to $64.00 in a report on Friday, May 3rd. TheStreet raised shares of Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a report on Tuesday, July 23rd. Finally, Nomura downgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Friday, May 3rd. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $74.48.

In other news, SVP Robert Telesmanic sold 3,343 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $60.00, for a total transaction of $200,580.00. Following the completion of the transaction, the senior vice president now directly owns 7,337 shares of the company’s stock, valued at approximately $440,220. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Karen Mcloughlin sold 7,905 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $64.28, for a total transaction of $508,133.40. Following the transaction, the chief financial officer now directly owns 65,906 shares of the company’s stock, valued at $4,236,437.68. The disclosure for this sale can be found here. Insiders have sold a total of 47,120 shares of company stock valued at $2,960,866 over the last ninety days. 0.56% of the stock is owned by insiders.

Cognizant Technology Solutions stock traded up $0.26 during mid-day trading on Thursday, reaching $60.91. The company had a trading volume of 80,373 shares, compared to its average volume of 3,491,923. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.13. Cognizant Technology Solutions Corp has a 52 week low of $56.73 and a 52 week high of $78.59. The stock’s 50 day simple moving average is $64.35. The stock has a market cap of $33.78 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Wednesday, August 21st. Cognizant Technology Solutions’s payout ratio is 19.90%.

About Cognizant Technology Solutions

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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