Walter & Keenan Financial Consulting Co. MI ADV bought a new position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the second quarter, Holdings Channel reports. The institutional investor bought 3,900 shares of the information technology service provider’s stock, valued at approximately $259,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its stake in Cognizant Technology Solutions Corporation by 2.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,926,160 shares of the information technology service provider’s stock worth $127,898,000 after buying an additional 48,460 shares during the period. Wetherby Asset Management Inc. increased its stake in Cognizant Technology Solutions Corporation by 11.6% in the second quarter. Wetherby Asset Management Inc. now owns 9,918 shares of the information technology service provider’s stock worth $658,000 after buying an additional 1,028 shares during the period. Canada Pension Plan Investment Board increased its stake in Cognizant Technology Solutions Corporation by 134.3% in the second quarter. Canada Pension Plan Investment Board now owns 622,035 shares of the information technology service provider’s stock worth $41,303,000 after buying an additional 356,578 shares during the period. Trexquant Investment LP purchased a new stake in Cognizant Technology Solutions Corporation during the second quarter worth $544,000. Finally, Global X Management Co. LLC increased its stake in Cognizant Technology Solutions Corporation by 7.7% in the second quarter. Global X Management Co. LLC now owns 8,224 shares of the information technology service provider’s stock worth $546,000 after buying an additional 585 shares during the period. Hedge funds and other institutional investors own 89.21% of the company’s stock.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 70.01 on Friday. The firm has a market capitalization of $41.35 billion, a P/E ratio of 22.46 and a beta of 1.17. Cognizant Technology Solutions Corporation has a 1-year low of $45.44 and a 1-year high of $71.57. The stock has a 50 day moving average of $68.58 and a 200-day moving average of $62.57.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.82 by $0.11. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 EPS. On average, equities research analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be given a $0.15 dividend. The ex-dividend date is Friday, August 18th. This represents a $0.60 annualized dividend and a yield of 0.86%. Cognizant Technology Solutions Corporation’s dividend payout ratio is currently 19.17%.

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A number of research firms have weighed in on CTSH. Zacks Investment Research downgraded Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $78.00 target price (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday. Berenberg Bank upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and upped their target price for the stock from $65.00 to $85.00 in a research report on Tuesday. BMO Capital Markets restated a “buy” rating and issued a $76.00 target price (up from $69.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, August 4th. Finally, Credit Suisse Group set a $80.00 target price on Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $70.02.

In related news, Director Maureen Breakiron-Evans sold 12,368 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $69.70, for a total value of $862,049.60. Following the sale, the director now directly owns 1,075 shares of the company’s stock, valued at approximately $74,927.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Srinivasan Veeraraghavachary sold 3,069 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $65.00, for a total transaction of $199,485.00. Following the completion of the sale, the chief operating officer now directly owns 24,737 shares in the company, valued at $1,607,905. The disclosure for this sale can be found here. Insiders sold a total of 77,528 shares of company stock worth $5,306,449 over the last ninety days. 1.08% of the stock is currently owned by insiders.

Cognizant Technology Solutions Corporation Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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Institutional Ownership by Quarter for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

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