Numeric Investors LLC lifted its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 15.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,100 shares of the information technology service provider’s stock after acquiring an additional 8,200 shares during the quarter. Numeric Investors LLC’s holdings in Cognizant Technology Solutions Corporation were worth $4,123,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTSH. Acrospire Investment Management LLC lifted its position in shares of Cognizant Technology Solutions Corporation by 92.6% during the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after purchasing an additional 800 shares in the last quarter. Guardian Life Insurance Co. of America boosted its holdings in Cognizant Technology Solutions Corporation by 1.2% during 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 purchasing an additional 27 shares during the last quarter. Manchester Capital Management LLC boosted its holdings in Cognizant Technology Solutions Corporation by 15.7% during the second quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock worth $181,000 after purchasing an additional 370 shares during the last quarter. First National Trust Co. purchased a new position in Cognizant Technology Solutions Corporation during the second quarter worth about $207,000. Finally, Lakeview Capital Partners LLC purchased a new position in Cognizant Technology Solutions Corporation during the second quarter worth about $210,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 72.55 on Wednesday. The firm’s 50-day moving average price is $71.29 and its 200-day moving average price is $66.39. The stock has a market cap of $42.85 billion, a price-to-earnings ratio of 23.28 and a beta of 1.12. Cognizant Technology Solutions Corporation has a 12-month low of $49.35 and a 12-month high of $73.28.

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 (EPS) for the quarter, topping the 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 firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter last year, the business posted $0.87 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. On average, equities analysts predict that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current fiscal year.

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Several research firms have commented on CTSH. Robert W. Baird reissued a “buy” rating and set a $80.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Sunday, September 10th. BidaskClub upgraded Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. Bank of America Corporation reaffirmed a “buy” rating and issued a $86.00 target price on shares of Cognizant Technology Solutions Corporation in a report on Tuesday, September 12th. HSBC Holdings plc lowered Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and upped their target price for the company from $65.00 to $68.00 in a report on Thursday, June 8th. Finally, Vetr raised Cognizant Technology Solutions Corporation from a “sell” rating to a “buy” rating and set a $76.85 target price for the company in a report on Tuesday, September 19th. Five research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $72.91.

In other news, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $73.00, for a total transaction of $1,825,000.00. Following the transaction, the insider now directly owns 286,923 shares in the company, valued at $20,945,379. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Gajakarnan Vibushanan Kandiah sold 4,999 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $69.50, for a total transaction of $347,430.50. Following the transaction, the insider now owns 10,515 shares in the company, valued at $730,792.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 287,357 shares of company stock valued at $20,521,043. 1.08% of the stock is owned by corporate insiders.

Cognizant Technology Solutions Corporation 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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