Intact Investment Management Inc. increased its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 11.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,000 shares of the information technology service provider’s stock after purchasing an additional 1,200 shares during the quarter. Intact Investment Management Inc.’s holdings in Cognizant Technology Solutions were worth $681,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Private Trust Co. NA raised its holdings in shares of Cognizant Technology Solutions by 1.7% in the 1st quarter. Private Trust Co. NA now owns 13,663 shares of the information technology service provider’s stock worth $634,000 after purchasing an additional 230 shares during the period. First Mercantile Trust Co. raised its holdings in Cognizant Technology Solutions by 11.8% during the 1st quarter. First Mercantile Trust Co. now owns 2,290 shares of the information technology service provider’s stock valued at $106,000 after acquiring an additional 242 shares during the period. Altfest L J & Co. Inc. raised its holdings in Cognizant Technology Solutions by 5.3% during the 2nd quarter. Altfest L J & Co. Inc. now owns 5,070 shares of the information technology service provider’s stock valued at $288,000 after acquiring an additional 254 shares during the period. Cim Investment Mangement Inc. raised its holdings in Cognizant Technology Solutions by 3.4% during the 1st quarter. Cim Investment Mangement Inc. now owns 8,007 shares of the information technology service provider’s stock valued at $372,000 after acquiring an additional 261 shares during the period. Finally, Wealth Advisors of Tampa Bay LLC raised its holdings in Cognizant Technology Solutions by 2.6% during the 1st quarter. Wealth Advisors of Tampa Bay LLC now owns 10,662 shares of the information technology service provider’s stock valued at $495,000 after acquiring an additional 268 shares during the period. 90.22% of the stock is currently owned by institutional investors.

CTSH has been the topic of a number of analyst reports. Nomura reissued a “hold” rating and set a $68.00 target price on shares of Cognizant Technology Solutions in a report on Sunday, May 10th. Citigroup boosted their price target on shares of Cognizant Technology Solutions from $66.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday. Robert W. Baird boosted their price target on shares of Cognizant Technology Solutions from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday. HSBC upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and boosted their price target for the company from $56.00 to $68.00 in a research report on Monday, July 13th. Finally, Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating and set a $67.00 price target for the company in a research report on Wednesday. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $66.67.

NASDAQ CTSH opened at $68.32 on Friday. The company has a 50-day simple moving average of $57.51 and a two-hundred day simple moving average of $56.95. The company has a quick ratio of 2.90, a current ratio of 2.66 and a debt-to-equity ratio of 0.29. Cognizant Technology Solutions Corp has a 12-month low of $40.01 and a 12-month high of $71.48. The firm has a market cap of $37.40 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 1.78 and a beta of 1.15.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, July 29th. The information technology service provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.14. Cognizant Technology Solutions had a net margin of 9.67% and a return on equity of 19.87%. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The company’s revenue was down 3.4% on a year-over-year basis. Equities analysts expect that Cognizant Technology Solutions Corp will post 3.54 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 21st will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.88 annualized dividend and a yield of 1.29%. Cognizant Technology Solutions’s payout ratio is 22.06%.

In other news, insider Malcolm Frank sold 1,492 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $54.83, for a total transaction of $81,806.36. Following the completion of the transaction, the insider now directly owns 32,924 shares of the company’s stock, valued at $1,805,222.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Matthew W. Friedrich sold 3,153 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $54.83, for a total transaction of $172,878.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,794 shares of company stock valued at $318,107. Company insiders own 0.31% of the company’s stock.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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

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