Boston Partners reduced its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 25.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 4,397,590 shares of the information technology service provider’s stock after selling 1,497,750 shares during the period. Boston Partners’ holdings in Cognizant Technology Solutions Corporation were worth $292,000,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Guardian Life Insurance Co. of America raised its stake in shares of Cognizant Technology Solutions Corporation by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock worth $140,000 after buying an additional 27 shares during the last quarter. Assetmark Inc. raised its stake in shares of Cognizant Technology Solutions Corporation by 24.2% in the first quarter. Assetmark Inc. now owns 2,592 shares of the information technology service provider’s stock worth $154,000 after buying an additional 505 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Cognizant Technology Solutions Corporation by 40.8% in the first quarter. IFP Advisors Inc now owns 2,696 shares of the information technology service provider’s stock worth $160,000 after buying an additional 781 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Cognizant Technology Solutions Corporation by 253.9% in the first quarter. Acadian Asset Management LLC now owns 3,231 shares of the information technology service provider’s stock worth $192,000 after buying an additional 2,318 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Cognizant Technology Solutions Corporation during the first quarter worth about $192,000. Hedge funds and other institutional investors own 89.21% of the company’s stock.

Cognizant Technology Solutions Corporation (CTSH) opened at 70.01 on Friday. The stock has a market cap of $41.35 billion, a price-to-earnings ratio of 22.46 and a beta of 1.17. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $71.57. The company has a 50-day moving average price of $68.58 and a 200 day moving average price of $62.57.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. On average, equities research analysts predict that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current year.

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

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A number of analysts have issued reports on the company. Credit Suisse Group set a $70.00 target price on Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research report on Saturday, May 6th. Zacks Investment Research lowered Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research report on Thursday. BMO Capital Markets reissued a “buy” rating and issued a $76.00 target price (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, August 4th. Needham & Company LLC reissued a “buy” rating and issued a $78.00 target price (up previously from $72.00) on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday. Finally, Loop Capital raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and boosted their target price for the company from $63.00 to $83.00 in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Cognizant Technology Solutions Corporation has an average rating of “Buy” and an average price target of $70.02.

In other news, EVP James Patrick Lennox sold 7,315 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $69.69, for a total value of $509,782.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean Middleton sold 1,460 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $67.39, for a total transaction of $98,389.40. Following the completion of the sale, the insider now directly owns 2,308 shares of the company’s stock, valued at approximately $155,536.12. The disclosure for this sale can be found here. Insiders sold a total of 77,528 shares of company stock valued at $5,306,449 in the last three months. Insiders own 1.08% of the company’s stock.

About Cognizant Technology Solutions Corporation

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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