Oakwood Capital Management LLC CA cut its stake in Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,292 shares of the information technology service provider’s stock after selling 1,520 shares during the period. Oakwood Capital Management LLC CA’s holdings in Cognizant Technology Solutions Corp. were worth $5,054,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTSH. PGGM Investments increased its position in Cognizant Technology Solutions Corp. by 17.6% in the second quarter. PGGM Investments now owns 487,605 shares of the information technology service provider’s stock worth $27,911,000 after buying an additional 73,000 shares in the last quarter. Coyle Financial Counsel LLC purchased a new position in Cognizant Technology Solutions Corp. during the second quarter worth approximately $250,000. Albion Financial Group UT increased its position in Cognizant Technology Solutions Corp. by 0.4% in the second quarter. Albion Financial Group UT now owns 6,830 shares of the information technology service provider’s stock worth $391,000 after buying an additional 25 shares in the last quarter. Bank of Montreal Can purchased a new position in Cognizant Technology Solutions Corp. during the second quarter worth approximately $44,698,000. Finally, MSI Financial Services Inc increased its position in Cognizant Technology Solutions Corp. by 14.8% in the second quarter. MSI Financial Services Inc now owns 12,959 shares of the information technology service provider’s stock worth $742,000 after buying an additional 1,674 shares in the last quarter. Institutional investors and hedge funds own 87.00% of the company’s stock.

Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 0.93% during midday trading on Wednesday, reaching $53.45. The company’s stock had a trading volume of 3,942,092 shares. The stock’s 50-day moving average price is $56.89 and its 200-day moving average price is $58.94. The company has a market cap of $32.44 billion, a P/E ratio of 21.55 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 posted its quarterly earnings data on Friday, August 5th. The information technology service provider reported $0.87 earnings per share (EPS) 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 the consensus estimate of $3.37 billion. Cognizant Technology Solutions Corp. had a return on equity of 19.31% and a net margin of 11.65%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 EPS. On average, analysts expect that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current fiscal year.

A number of analysts recently issued reports on CTSH shares. Barclays PLC restated a “buy” rating on shares of Cognizant Technology Solutions Corp. in a research report on Saturday, July 9th. Needham & Company LLC lowered their price target on Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, August 8th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $68.00 price target on shares of Cognizant Technology Solutions Corp. in a research report on Friday, July 1st. Citigroup Inc. lowered their price target on Cognizant Technology Solutions Corp. from $71.00 to $68.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. Finally, Cantor Fitzgerald set a $68.00 price target on Cognizant Technology Solutions Corp. and gave the stock a “buy” rating in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cognizant Technology Solutions Corp. presently has an average rating of “Buy” and an average target price of $66.87.

In related news, CFO Karen Mcloughlin sold 20,000 shares of the business’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $60.00, for a total value of $1,200,000.00. Following the sale, the chief financial officer now owns 60,741 shares in the company, valued at approximately $3,644,460. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Francisco Dsouza sold 300,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 422,602 shares in the company, valued at approximately $24,646,148.64. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.

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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