Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 10.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,000 shares of the information technology service provider’s stock after selling 10,454 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Cognizant Technology Solutions Corporation were worth $5,777,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Guardian Life Insurance Co. of America increased its position in 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 valued at $140,000 after buying an additional 27 shares during the period. Assetmark Inc. increased its position in 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 valued at $154,000 after buying an additional 505 shares during the period. IFP Advisors Inc increased its position in 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 valued at $160,000 after buying an additional 781 shares during the period. Acadian Asset Management LLC boosted its stake in Cognizant Technology Solutions Corporation by 253.9% in the first quarter. Acadian Asset Management LLC now owns 3,231 shares of the information technology service provider’s stock valued at $192,000 after buying an additional 2,318 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in Cognizant Technology Solutions Corporation during the first quarter valued at about $192,000. Institutional investors and hedge funds own 89.21% of the company’s stock.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 70.01 on Friday. The stock has a market cap of $41.35 billion, a P/E ratio of 22.46 and a beta of 1.17. Cognizant Technology Solutions Corporation has a 52 week low of $45.44 and a 52 week high of $71.57. The company’s 50 day moving average is $68.58 and its 200 day moving average is $62.57.

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 for the quarter, topping the consensus estimate of $0.82 by $0.11. The business had revenue of $3.67 billion for 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 period last year, the firm posted $0.87 earnings per share. Equities analysts predict 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. Stockholders of record on Tuesday, August 22nd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is currently 19.17%.

TRADEMARK VIOLATION NOTICE: This article was first published by Watch List News and is owned by of Watch List News. If you are accessing this article on another domain, it was illegally stolen and reposted in violation of international copyright law. The original version of this article can be read at https://www.watchlistnews.com/mitsubishi-ufj-kokusai-asset-management-co-ltd-lowers-stake-in-cognizant-technology-solutions-corporation-ctsh/1474153.html.

CTSH has been the subject of several recent analyst reports. SunTrust Banks, Inc. raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Thursday, April 13th. Morgan Stanley lifted their price objective on shares of Cognizant Technology Solutions Corporation from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, May 8th. Needham & Company LLC lifted their price objective 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. Vetr raised shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and set a $67.50 price objective for the company in a research report on Friday, April 14th. Finally, Robert W. Baird lifted their price objective on shares of Cognizant Technology Solutions Corporation from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, May 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Cognizant Technology Solutions Corporation has a consensus rating of “Buy” and a consensus price target of $70.02.

In other news, insider Sean Middleton sold 1,460 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $67.39, for a total value of $98,389.40. Following the transaction, the insider now directly owns 2,308 shares of the company’s stock, valued at $155,536.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Srinivasan Veeraraghavachary sold 2,500 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $71.00, for a total transaction of $177,500.00. Following the completion of the transaction, the chief operating officer now directly owns 27,165 shares in the company, valued at $1,928,715. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,528 shares of company stock worth $5,306,449. 1.08% of the stock is currently owned by 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.

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Corporation (NASDAQ:CTSH).

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

Receive News & Ratings for Cognizant Technology Solutions Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.