Norris Perne & French LLP MI reduced its position in shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 5.5% during the second quarter, Holdings Channel reports. The fund owned 221,622 shares of the information technology service provider’s stock after selling 12,776 shares during the period. Cognizant Technology Solutions Corp. comprises 2.7% of Norris Perne & French LLP MI’s investment portfolio, making the stock its 8th largest position. Norris Perne & French LLP MI’s holdings in Cognizant Technology Solutions Corp. were worth $12,686,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Motley Fool Wealth Management LLC increased its stake in shares of Cognizant Technology Solutions Corp. by 2.7% in the first quarter. Motley Fool Wealth Management LLC now owns 115,900 shares of the information technology service provider’s stock worth $7,267,000 after buying an additional 3,007 shares during the last quarter. Sii Investments Inc. WI increased its stake in shares of Cognizant Technology Solutions Corp. by 9.5% in the first quarter. Sii Investments Inc. WI now owns 9,312 shares of the information technology service provider’s stock worth $589,000 after buying an additional 808 shares during the last quarter. Glenmede Trust Co. NA increased its stake in shares of Cognizant Technology Solutions Corp. by 13.8% in the first quarter. Glenmede Trust Co. NA now owns 1,653,024 shares of the information technology service provider’s stock worth $103,644,000 after buying an additional 199,857 shares during the last quarter. Watch Point Trust Co increased its stake in shares of Cognizant Technology Solutions Corp. by 0.7% in the first quarter. Watch Point Trust Co now owns 33,965 shares of the information technology service provider’s stock worth $2,130,000 after buying an additional 220 shares during the last quarter. Finally, Tompkins Financial Corp increased its stake in shares of Cognizant Technology Solutions Corp. by 2.1% in the first quarter. Tompkins Financial Corp now owns 7,847 shares of the information technology service provider’s stock worth $492,000 after buying an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 0.02% during trading on Monday, hitting $53.33. 4,467,687 shares of the company’s stock were exchanged. Cognizant Technology Solutions Corp. has a 1-year low of $51.22 and a 1-year high of $69.80. The stock’s 50 day moving average is $57.17 and its 200 day moving average is $59.01. The firm has a market capitalization of $32.37 billion, a PE ratio of 21.50 and a beta of 1.28.

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, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.05. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.37 billion. Cognizant Technology Solutions Corp. had a net margin of 11.65% and a return on equity of 19.31%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 EPS. On average, equities research analysts forecast that Cognizant Technology Solutions Corp. will post $3.37 earnings per share for the current year.

A number of brokerages recently commented on CTSH. Jefferies Group restated a “buy” rating and issued a $70.00 price objective on shares of Cognizant Technology Solutions Corp. in a research report on Monday, June 20th. Barclays PLC reaffirmed an “overweight” rating and issued a $70.00 target price on shares of Cognizant Technology Solutions Corp. in a report on Wednesday, June 8th. Needham & Company LLC dropped their target price on shares of Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a “buy” rating for the company in a report on Monday, August 8th. Nomura cut shares of Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and dropped their target price for the company from $65.00 to $62.00 in a report on Monday, August 8th. Finally, Cantor Fitzgerald set a $68.00 target price on shares of Cognizant Technology Solutions Corp. and gave the company a “buy” rating in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $66.87.

In other Cognizant Technology Solutions Corp. news, VP Malcolm Frank sold 1,248 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $58.50, for a total value of $73,008.00. Following the transaction, the vice president now owns 3,945 shares in the company, valued at approximately $230,782.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Francisco Dsouza sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $58.57, for a total transaction of $5,857,000.00. Following the completion of the transaction, the chief executive officer now owns 422,602 shares in the company, valued at approximately $24,751,799.14. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company 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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