Schwab Charles Investment Management Inc. increased its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 2.6% during the second quarter, Holdings Channel reports. The fund owned 1,926,160 shares of the information technology service provider’s stock after buying an additional 48,460 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Cognizant Technology Solutions Corporation were worth $127,898,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of CTSH. Private Advisor Group LLC increased its stake in Cognizant Technology Solutions Corporation by 173.9% in the first quarter. Private Advisor Group LLC now owns 30,271 shares of the information technology service provider’s stock valued at $1,219,000 after buying an additional 19,218 shares during the period. Regentatlantic Capital LLC increased its stake in Cognizant Technology Solutions Corporation by 7.9% in the first quarter. Regentatlantic Capital LLC now owns 11,718 shares of the information technology service provider’s stock valued at $697,000 after buying an additional 861 shares during the period. Profund Advisors LLC increased its stake in Cognizant Technology Solutions Corporation by 7.0% in the first quarter. Profund Advisors LLC now owns 49,066 shares of the information technology service provider’s stock valued at $2,920,000 after buying an additional 3,223 shares during the period. Davis R M Inc. increased its stake in Cognizant Technology Solutions Corporation by 2.2% in the first quarter. Davis R M Inc. now owns 271,020 shares of the information technology service provider’s stock valued at $16,131,000 after buying an additional 5,751 shares during the period. Finally, Whitnell & Co. increased its stake in Cognizant Technology Solutions Corporation by 118.4% in the first quarter. Whitnell & Co. now owns 13,975 shares of the information technology service provider’s stock valued at $832,000 after buying an additional 7,575 shares during the period. Institutional investors and hedge funds own 89.21% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (CTSH) opened at 70.61 on Friday. The firm has a market capitalization of $41.70 billion, a PE ratio of 22.65 and a beta of 1.17. The firm’s 50 day moving average is $68.68 and its 200 day moving average is $62.67. Cognizant Technology Solutions Corporation has a 1-year low of $45.44 and a 1-year high of $71.57.

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

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.60 annualized dividend and a yield of 0.85%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 19.17%.

WARNING: This article was first posted by Watch List News and is owned by of Watch List News. If you are reading this article on another publication, it was stolen and reposted in violation of US & international copyright and trademark laws. The original version of this article can be accessed at https://www.watchlistnews.com/cognizant-technology-solutions-corporation-ctsh-shares-bought-by-schwab-charles-investment-management-inc/1481246.html.

A number of equities analysts have commented on CTSH shares. Zacks Investment Research downgraded shares of 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 set a $78.00 price objective (up previously from $72.00) on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday. Berenberg Bank upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $85.00 in a research report on Tuesday, August 8th. BMO Capital Markets restated a “buy” rating and set a $76.00 price objective (up previously 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 price objective on shares of 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 research 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 currently has a consensus rating of “Buy” and a consensus target price of $70.02.

In other Cognizant Technology Solutions Corporation news, Director Maureen Breakiron-Evans sold 12,368 shares of Cognizant Technology Solutions Corporation stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $69.70, for a total transaction of $862,049.60. Following the transaction, the director now owns 1,075 shares of the company’s stock, valued at approximately $74,927.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Srinivasan Veeraraghavachary sold 2,500 shares of Cognizant Technology Solutions Corporation stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $71.00, for a total value of $177,500.00. Following the transaction, the chief operating officer now directly owns 27,165 shares in the company, valued at approximately $1,928,715. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,528 shares of company stock worth $5,306,449. Company insiders own 1.08% of the company’s stock.

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.

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Corporation (NASDAQ:CTSH).

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

Receive News & Ratings for Cognizant Technology Solutions Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.