Nationwide Fund Advisors decreased its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 20.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 261,595 shares of the information technology service provider’s stock after selling 68,484 shares during the period. Nationwide Fund Advisors’ holdings in Cognizant Technology Solutions Corporation were worth $17,370,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Comerica Securities Inc. grew its holdings in shares of Cognizant Technology Solutions Corporation by 0.4% in the 2nd quarter. Comerica Securities Inc. now owns 7,810 shares of the information technology service provider’s stock valued at $519,000 after buying an additional 32 shares during the period. Captrust Financial Advisors acquired a new position in shares of Cognizant Technology Solutions Corporation in the 2nd quarter valued at $307,000. Norinchukin Bank The grew its holdings in shares of Cognizant Technology Solutions Corporation by 3.3% in the 2nd quarter. Norinchukin Bank The now owns 40,873 shares of the information technology service provider’s stock valued at $2,714,000 after buying an additional 1,323 shares during the period. Icon Advisers Inc. Co. grew its holdings in shares of Cognizant Technology Solutions Corporation by 7.2% in the 2nd quarter. Icon Advisers Inc. Co. now owns 68,300 shares of the information technology service provider’s stock valued at $4,535,000 after buying an additional 4,600 shares during the period. Finally, Teachers Advisors LLC grew its holdings in shares of Cognizant Technology Solutions Corporation by 2.2% in the 2nd quarter. Teachers Advisors LLC now owns 976,850 shares of the information technology service provider’s stock valued at $64,863,000 after buying an additional 20,982 shares during the period. 87.59% of the stock is owned by institutional investors.

Cognizant Technology Solutions Corporation (CTSH) opened at 72.50 on Wednesday. The firm has a market cap of $42.82 billion, a price-to-earnings ratio of 23.26 and a beta of 1.14. Cognizant Technology Solutions Corporation has a 12 month low of $45.44 and a 12 month high of $73.00. The firm’s 50 day moving average is $70.75 and its 200-day moving average is $65.41.

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

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Tuesday, August 22nd were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is currently 19.17%.

CTSH has been the subject of several research analyst reports. Royal Bank Of Canada reissued a “buy” rating and issued a $77.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, September 6th. Zacks Investment Research lowered shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $79.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, May 31st. Robert W. Baird reaffirmed a “buy” rating and issued a $80.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Sunday, September 10th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $80.00 target price (up from $66.00) on shares of Cognizant Technology Solutions Corporation in a research note on Thursday, June 15th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $72.51.

In other news, insider Venkat Krishnaswamy sold 8,151 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $70.93, for a total value of $578,150.43. Following the sale, the insider now owns 9,429 shares of the company’s stock, valued at $668,798.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Allen Shaheen sold 442 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $70.58, for a total transaction of $31,196.36. The disclosure for this sale can be found here. In the last three months, insiders sold 275,756 shares of company stock worth $19,685,771. Insiders own 1.08% of the company’s stock.

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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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