Elliott Management Corp held its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,124,440 shares of the information technology service provider’s stock at the close of the 2nd quarter. Cognizant Technology Solutions Corporation makes up 0.5% of Elliott Management Corp’s holdings, making the stock its 24th largest holding. Elliott Management Corp owned approximately 0.19% of Cognizant Technology Solutions Corporation worth $74,663,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Cornerstone Advisors Inc. boosted its stake in Cognizant Technology Solutions Corporation by 0.3% during the second quarter. Cornerstone Advisors Inc. now owns 3,633 shares of the information technology service provider’s stock valued at $241,000 after buying an additional 11 shares during the period. Guardian Life Insurance Co. of America boosted its stake 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 valued at $140,000 after buying an additional 27 shares during the period. First Capital Advisors Group LLC. boosted its stake in Cognizant Technology Solutions Corporation by 0.9% during the second quarter. First Capital Advisors Group LLC. now owns 3,676 shares of the information technology service provider’s stock valued at $244,000 after buying an additional 32 shares during the period. Comerica Securities Inc. boosted its stake in Cognizant Technology Solutions Corporation by 0.4% during the second 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. Finally, CENTRAL TRUST Co boosted its stake in Cognizant Technology Solutions Corporation by 0.5% during the second quarter. CENTRAL TRUST Co now owns 6,403 shares of the information technology service provider’s stock valued at $425,000 after buying an additional 35 shares during the period. 87.60% of the stock is owned by institutional investors.

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Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded up 0.82% on Friday, reaching $73.80. The company had a trading volume of 2,249,315 shares. Cognizant Technology Solutions Corporation has a 52 week low of $49.35 and a 52 week high of $73.83. The firm has a market capitalization of $43.59 billion, a price-to-earnings ratio of 23.68 and a beta of 1.12. The stock’s 50 day moving average is $71.44 and its 200 day moving average is $66.59.

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

In other news, EVP Allen Shaheen sold 442 shares of Cognizant Technology Solutions Corporation 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gajakarnan Vibushanan Kandiah sold 4,999 shares of Cognizant Technology Solutions Corporation 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 sale, the insider now directly owns 10,515 shares of the company’s stock, valued at approximately $730,792.50. The disclosure for this sale can be found here. In the last three months, insiders sold 287,357 shares of company stock valued at $20,521,043. 1.08% of the stock is owned by insiders.

CTSH has been the subject of several research analyst reports. BidaskClub lowered Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $80.00 price target (up previously from $66.00) on shares of Cognizant Technology Solutions Corporation in a research note on Thursday, June 15th. Cowen and Company reaffirmed a “buy” rating and set a $75.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Friday, July 28th. Vetr raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $71.62 price target for the company in a research note on Wednesday, August 2nd. 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. Five equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $72.91.

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.

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

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