Watch Point Trust Co lowered its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 2.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,291 shares of the information technology service provider’s stock after selling 1,155 shares during the period. Cognizant Technology Solutions Corporation accounts for 2.5% of Watch Point Trust Co’s holdings, making the stock its 12th largest holding. Watch Point Trust Co’s holdings in Cognizant Technology Solutions Corporation were worth $2,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the business. FMR LLC raised its stake in shares of Cognizant Technology Solutions Corporation by 81.6% during the second quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock valued at $1,664,366,000 after acquiring an additional 11,262,360 shares during the last quarter. State Street Corp raised its stake in shares of Cognizant Technology Solutions Corporation by 1.8% during the first quarter. State Street Corp now owns 24,267,262 shares of the information technology service provider’s stock valued at $1,444,391,000 after acquiring an additional 435,142 shares during the last quarter. Pzena Investment Management LLC raised its stake in shares of Cognizant Technology Solutions Corporation by 4.4% during the second quarter. Pzena Investment Management LLC now owns 7,010,880 shares of the information technology service provider’s stock valued at $465,522,000 after acquiring an additional 296,899 shares during the last quarter. Swedbank raised its stake in shares of Cognizant Technology Solutions Corporation by 1.8% during the third quarter. Swedbank now owns 6,621,266 shares of the information technology service provider’s stock valued at $480,307,000 after acquiring an additional 116,263 shares during the last quarter. Finally, Comgest Global Investors S.A.S. raised its stake in shares of Cognizant Technology Solutions Corporation by 57.7% during the second quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock valued at $395,400,000 after acquiring an additional 2,178,800 shares during the last quarter. Hedge funds and other institutional investors own 87.42% of the company’s stock.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up $0.01 during trading on Tuesday, reaching $74.79. 461,098 shares of the company were exchanged, compared to its average volume of 3,040,000. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. The company has a market cap of $44,090.00, a price-to-earnings ratio of 22.17, a PEG ratio of 1.69 and a beta of 1.10. Cognizant Technology Solutions Corporation has a twelve month low of $51.35 and a twelve month high of $76.51.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.13. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. Cognizant Technology Solutions Corporation had a net margin of 13.42% and a return on equity of 18.94%. Cognizant Technology Solutions Corporation’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 EPS. research analysts anticipate that Cognizant Technology Solutions Corporation will post 3.31 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, November 20th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Friday, November 17th. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 18.58%.

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Several equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $85.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Friday. Sanford C. Bernstein lifted their target price on shares of Cognizant Technology Solutions Corporation from $84.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, November 2nd. Morgan Stanley lifted their target price on shares of Cognizant Technology Solutions Corporation from $74.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. Finally, BMO Capital Markets lifted their target price on shares of Cognizant Technology Solutions Corporation from $76.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday, November 2nd. Five research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. Cognizant Technology Solutions Corporation presently has an average rating of “Buy” and an average price target of $80.71.

In other news, insider Sumithra Gomatam sold 3,163 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $76.00, for a total value of $240,388.00. Following the transaction, the insider now owns 6,346 shares of the company’s stock, valued at approximately $482,296. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Rajeev Mehta sold 32,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $71.02, for a total transaction of $2,272,640.00. Following the completion of the transaction, the president now directly owns 187,965 shares in the company, valued at approximately $13,349,274.30. The disclosure for this sale can be found here. Insiders have sold a total of 252,075 shares of company stock worth $18,089,469 in the last ninety days. 1.08% of the stock is currently owned by insiders.

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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