Dowling & Yahnke LLC increased its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 33,758 shares of the information technology service provider’s stock after buying an additional 190 shares during the period. Dowling & Yahnke LLC’s holdings in Cognizant Technology Solutions Corporation were worth $2,242,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the company. Cornerstone Advisors Inc. boosted its position in shares of Cognizant Technology Solutions Corporation by 0.3% in the second quarter. Cornerstone Advisors Inc. now owns 3,633 shares of the information technology service provider’s stock worth $241,000 after buying an additional 11 shares during the period. Guardian Life Insurance Co. of America boosted its position in shares of Cognizant Technology Solutions Corporation by 1.2% in 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 buying an additional 27 shares during the period. First Capital Advisors Group LLC. boosted its position in shares of Cognizant Technology Solutions Corporation by 0.9% in the second quarter. First Capital Advisors Group LLC. now owns 3,676 shares of the information technology service provider’s stock worth $244,000 after buying an additional 32 shares during the period. CENTRAL TRUST Co boosted its position in shares of Cognizant Technology Solutions Corporation by 0.5% in the second quarter. CENTRAL TRUST Co now owns 6,403 shares of the information technology service provider’s stock worth $425,000 after buying an additional 35 shares during the period. Finally, Boltwood Capital Management boosted its position in shares of Cognizant Technology Solutions Corporation by 0.4% in the second quarter. Boltwood Capital Management now owns 15,910 shares of the information technology service provider’s stock worth $1,056,000 after buying an additional 60 shares during the period. 88.68% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 71.84 on Tuesday. The firm has a 50-day moving average price of $68.80 and a 200 day moving average price of $62.86. The company has a market capitalization of $42.43 billion, a P/E ratio of 23.05 and a beta of 1.17. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $71.87.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the business posted $0.87 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts predict that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 22nd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. Cognizant Technology Solutions Corporation’s dividend payout ratio is presently 19.17%.

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A number of equities analysts have commented on the company. Credit Suisse Group set a $70.00 price target on Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a research note on Saturday, May 6th. BMO Capital Markets reaffirmed a “buy” rating and issued a $76.00 price target (up from $69.00) on shares of Cognizant Technology Solutions Corporation in a research note on Friday, August 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $78.00 price target (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, August 9th. Zacks Investment Research cut Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Loop Capital raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and lifted their price target for the stock from $63.00 to $83.00 in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $70.02.

In other news, insider Venkat Krishnaswamy sold 4,000 shares of Cognizant Technology Solutions Corporation stock in a transaction on Monday, June 5th. The stock was sold at an average price of $67.75, for a total value of $271,000.00. Following the transaction, the insider now directly owns 13,188 shares in the company, valued at approximately $893,487. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gajakarnan Vibushanan Kandiah sold 1,500 shares of Cognizant Technology Solutions Corporation stock in a transaction on Friday, May 19th. The shares were sold at an average price of $65.32, for a total value of $97,980.00. Following the completion of the transaction, the insider now owns 12,015 shares in the company, valued at $784,819.80. The disclosure for this sale can be found here. Insiders sold a total of 73,011 shares of company stock worth $5,015,311 over the last quarter. 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.

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

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