Watch Point Trust Co increased its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,446 shares of the information technology service provider’s stock after buying an additional 105 shares during the period. Cognizant Technology Solutions Corporation accounts for 2.4% of Watch Point Trust Co’s investment portfolio, making the stock its 13th largest position. Watch Point Trust Co’s holdings in Cognizant Technology Solutions Corporation were worth $2,620,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cohen Lawrence B increased its stake in Cognizant Technology Solutions Corporation by 1.4% in the first quarter. Cohen Lawrence B now owns 76,297 shares of the information technology service provider’s stock worth $4,541,000 after buying an additional 1,020 shares during the period. Pensionfund DSM Netherlands increased its stake in Cognizant Technology Solutions Corporation by 3.3% in the first quarter. Pensionfund DSM Netherlands now owns 62,400 shares of the information technology service provider’s stock worth $3,714,000 after buying an additional 2,000 shares during the period. Pensionfund Sabic increased its stake in Cognizant Technology Solutions Corporation by 9.4% in the first quarter. Pensionfund Sabic now owns 31,400 shares of the information technology service provider’s stock worth $1,869,000 after buying an additional 2,700 shares during the period. Searle & CO. acquired a new stake in Cognizant Technology Solutions Corporation during the fourth quarter worth $700,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Cognizant Technology Solutions Corporation during the fourth quarter worth $1,101,000. Institutional investors own 89.94% of the company’s stock.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 0.16% during trading on Wednesday, hitting $68.90. The stock had a trading volume of 267,016 shares. Cognizant Technology Solutions Corporation has a 1-year low of $45.44 and a 1-year high of $69.01. The firm’s 50-day moving average price is $67.16 and its 200-day moving average price is $61.11. The stock has a market cap of $40.58 billion, a PE ratio of 25.06 and a beta of 1.16.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its earnings results on Friday, May 5th. The information technology service provider reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.09. Cognizant Technology Solutions Corporation had a net margin of 12.07% and a return on equity of 18.77%. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same period in the prior year, the business earned $0.80 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts predict that Cognizant Technology Solutions Corporation will post $3.67 earnings per share for the current fiscal year.

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A number of analysts recently weighed in on the company. Credit Suisse Group set a $70.00 price target on Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research note on Saturday, May 6th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $80.00 price target (up from $66.00) on shares of Cognizant Technology Solutions Corporation in a research note on Thursday, June 15th. Cantor Fitzgerald restated a “buy” rating and issued a $67.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Friday, May 5th. BidaskClub downgraded Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Finally, HSBC Holdings plc downgraded Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and lifted their price target for the company from $65.00 to $68.00 in a research note on Thursday, June 8th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $65.41.

In other Cognizant Technology Solutions Corporation news, EVP Allen Shaheen sold 4,186 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $67.56, for a total transaction of $282,806.16. Following the sale, the executive vice president now directly owns 442 shares of the company’s stock, valued at approximately $29,861.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sean Middleton sold 1,890 shares of the business’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $60.00, for a total transaction of $113,400.00. Following the sale, the insider now directly owns 5,888 shares in the company, valued at $353,280. The disclosure for this sale can be found here. Insiders have sold a total of 57,256 shares of company stock worth $3,750,694 over the last three months. 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.

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

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