LSV Asset Management purchased a new position in Cognizant Technology Solutions Corp. (NASDAQ:CTSH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 4,400 shares of the information technology service provider’s stock, valued at approximately $251,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Washington Trust Bank increased its position 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 worth $102,000 after buying an additional 114 shares in the last quarter. Exane Derivatives boosted its stake in 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 worth $117,000 after buying an additional 419 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Cognizant Technology Solutions Corp. during the second quarter worth $123,000. First Manhattan Co. boosted its stake in 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 worth $144,000 after buying an additional 363 shares during the last quarter. Finally, Iowa State Bank bought a new stake in Cognizant Technology Solutions Corp. during the second quarter worth $169,000. Institutional investors own 86.86% of the company’s stock.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 0.02% during midday trading on Monday, hitting $53.33. 4,467,687 shares of the company traded hands. The stock has a 50 day moving average of $57.67 and a 200 day moving average of $59.13. Cognizant Technology Solutions Corp. has a 12-month low of $51.22 and a 12-month high of $69.80. The stock has a market cap of $32.37 billion, a P/E ratio of 21.50 and a beta of 1.28.

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

CTSH has been the topic of a number of research analyst reports. Barclays PLC reissued an “overweight” rating and set a $70.00 price objective on shares of Cognizant Technology Solutions Corp. in a report on Wednesday, June 8th. Jefferies Group reissued a “buy” rating and set a $70.00 price objective on shares of Cognizant Technology Solutions Corp. in a report on Monday, June 20th. Cantor Fitzgerald reissued a “buy” rating and set a $68.00 price objective on shares of Cognizant Technology Solutions Corp. in a report on Wednesday, June 29th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $68.00 price objective on shares of Cognizant Technology Solutions Corp. in a report on Friday, July 1st. Finally, SunTrust Banks Inc. cut shares of Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $70.00 to $65.00 in a report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $66.87.

In other Cognizant Technology Solutions Corp. news, CEO Francisco Dsouza sold 100,000 shares of the company’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $58.14, for a total transaction of $5,814,000.00. Following the completion of the sale, the chief executive officer now directly owns 422,602 shares in the company, valued at $24,570,080.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Malcolm Frank sold 1,248 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $58.50, for a total transaction of $73,008.00. Following the sale, the vice president now owns 3,945 shares of the company’s stock, valued at $230,782.50. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

Cognizant Technology Solutions Corp. Company Profile

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.

5 Day Chart for NASDAQ:CTSH

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