First Trust Advisors LP decreased its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 4.9% during the second quarter, Holdings Channel reports. The firm owned 1,204,014 shares of the information technology service provider’s stock after selling 62,545 shares during the period. First Trust Advisors LP’s holdings in Cognizant Technology Solutions Corporation were worth $79,947,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. 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. Assetmark Inc. raised its stake in shares of Cognizant Technology Solutions Corporation by 24.2% in the first quarter. Assetmark Inc. now owns 2,592 shares of the information technology service provider’s stock worth $154,000 after buying an additional 505 shares during the period. IFP Advisors Inc raised its stake in shares of Cognizant Technology Solutions Corporation by 40.8% in the first quarter. IFP Advisors Inc now owns 2,696 shares of the information technology service provider’s stock worth $160,000 after buying an additional 781 shares during the period. Lakeview Capital Partners LLC purchased a new stake in shares of Cognizant Technology Solutions Corporation during the second quarter worth about $210,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Cognizant Technology Solutions Corporation during the first quarter worth about $192,000. 89.21% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 70.61 on Friday. The stock has a 50 day moving average of $68.68 and a 200 day moving average of $62.67. The firm has a market capitalization of $41.70 billion, a price-to-earnings ratio of 22.65 and a beta of 1.17. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $71.57.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the company posted $0.87 EPS. Equities research analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is currently 19.17%.

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CTSH has been the topic of a number of analyst reports. Vetr upgraded shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and set a $67.50 target price on the stock in a research report on Friday, April 14th. Needham & Company LLC raised their target price on shares of Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Deutsche Bank AG restated a “buy” rating and set a $79.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, May 31st. HSBC Holdings plc lowered shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and raised their target price for the stock from $65.00 to $68.00 in a research report on Thursday, June 8th. Finally, Pacific Crest restated an “overweight” rating and set a $75.00 target price (up previously from $73.00) on shares of Cognizant Technology Solutions Corporation in a research report on Thursday, June 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $70.02.

In other Cognizant Technology Solutions Corporation news, insider Venkat Krishnaswamy sold 4,205 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $66.75, for a total transaction of $280,683.75. Following the sale, the insider now owns 13,540 shares of the company’s stock, valued at approximately $903,795. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sean Middleton sold 1,890 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $65.00, for a total transaction of $122,850.00. Following the sale, the insider now directly owns 2,108 shares in the company, valued at approximately $137,020. The disclosure for this sale can be found here. Insiders have sold a total of 77,528 shares of company stock valued at $5,306,449 in the last quarter. 1.08% of the stock is currently owned by corporate insiders.

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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