First National Bank of Hutchinson cut its stake in Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 31.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,224 shares of the information technology service provider’s stock after selling 6,532 shares during the period. Cognizant Technology Solutions Corp. accounts for 0.5% of First National Bank of Hutchinson’s portfolio, making the stock its 27th largest position. First National Bank of Hutchinson’s holdings in Cognizant Technology Solutions Corp. were worth $797,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Washington Trust Bank raised its stake in shares of Cognizant Technology Solutions Corp. by 6.8% in the second quarter. Washington Trust Bank now owns 1,789 shares of the information technology service provider’s stock valued at $102,000 after buying an additional 114 shares during the period. Exane Derivatives increased its position in shares of Cognizant Technology Solutions Corp. by 29.0% in the first quarter. Exane Derivatives now owns 1,862 shares of the information technology service provider’s stock valued at $117,000 after buying an additional 419 shares in the last quarter. First Manhattan Co. increased its position in shares of Cognizant Technology Solutions Corp. by 16.8% in the second quarter. First Manhattan Co. now owns 2,523 shares of the information technology service provider’s stock valued at $144,000 after buying an additional 363 shares in the last quarter. Iowa State Bank bought a new position in shares of Cognizant Technology Solutions Corp. during the second quarter valued at approximately $169,000. Finally, Duncker Streett & Co. Inc. increased its position in shares of Cognizant Technology Solutions Corp. by 5.0% in the second quarter. Duncker Streett & Co. Inc. now owns 3,550 shares of the information technology service provider’s stock valued at $203,000 after buying an additional 170 shares in the last quarter. 86.86% of the stock is owned by institutional investors.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 0.02% during trading on Monday, hitting $53.33. The stock had a trading volume of 4,467,687 shares. The stock has a 50 day moving average price of $57.17 and a 200-day moving average price of $59.01. The stock has a market cap of $32.37 billion, a price-to-earnings ratio of 21.50 and a beta of 1.28. Cognizant Technology Solutions Corp. has a 12 month low of $51.22 and a 12 month high of $69.80.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last released its quarterly earnings data on Friday, August 5th. The information technology service provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. The firm earned $3.37 billion during the quarter, compared to analyst estimates of $3.37 billion. Cognizant Technology Solutions Corp. had a return on equity of 19.31% and a net margin of 11.65%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.79 earnings per share. On average, equities analysts predict that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current year.

CTSH has been the subject of several analyst reports. Cantor Fitzgerald restated a “buy” rating and issued a $68.00 target price on shares of Cognizant Technology Solutions Corp. in a research note on Wednesday, June 29th. Jefferies Group restated a “buy” rating and issued a $70.00 target price on shares of Cognizant Technology Solutions Corp. in a research note on Monday, June 20th. Barclays PLC restated a “buy” rating on shares of Cognizant Technology Solutions Corp. in a research note on Saturday, July 9th. JPMorgan Chase & Co. restated a “buy” rating and issued a $62.00 target price on shares of Cognizant Technology Solutions Corp. in a research note on Wednesday, August 3rd. Finally, Citigroup Inc. cut their target price on Cognizant Technology Solutions Corp. from $71.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Cognizant Technology Solutions Corp. currently has an average rating of “Buy” and a consensus price target of $66.87.

In related news, VP Malcolm Frank sold 1,248 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $58.50, for a total transaction of $73,008.00. Following the completion of the transaction, the vice president now directly owns 3,945 shares of the company’s stock, valued at $230,782.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Francisco Dsouza sold 300,000 shares of the stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $58.32, for a total value of $17,496,000.00. Following the transaction, the chief executive officer now directly owns 422,602 shares of the company’s stock, valued at $24,646,148.64. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.

About Cognizant Technology Solutions Corp.

Cognizant Technology Solutions Corporation is a provider of information technology (IT), consulting and business process services. The Company operates through four segments: Financial Services, which includes customers providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers, as well as life sciences customers, including pharmaceutical, biotech and medical device companies; Manufacturing, Retail and Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as customers providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology.

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