Pendal Group Ltd reduced its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 34.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,766,390 shares of the information technology service provider’s stock after selling 933,374 shares during the period. Cognizant Technology Solutions makes up approximately 1.4% of Pendal Group Ltd’s portfolio, making the stock its 14th biggest position. Pendal Group Ltd owned about 0.31% of Cognizant Technology Solutions worth $100,057,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Cognizant Technology Solutions by 4.7% in the 1st quarter. BlackRock Inc. now owns 47,153,467 shares of the information technology service provider’s stock valued at $3,416,269,000 after buying an additional 2,129,464 shares during the period. FMR LLC raised its holdings in Cognizant Technology Solutions by 21.9% in the 1st quarter. FMR LLC now owns 15,767,608 shares of the information technology service provider’s stock valued at $1,142,362,000 after buying an additional 2,827,833 shares during the period. Northern Trust Corp raised its holdings in Cognizant Technology Solutions by 3.4% in the 1st quarter. Northern Trust Corp now owns 7,655,802 shares of the information technology service provider’s stock valued at $554,663,000 after buying an additional 252,685 shares during the period. Pzena Investment Management LLC raised its holdings in Cognizant Technology Solutions by 0.4% in the 1st quarter. Pzena Investment Management LLC now owns 7,636,219 shares of the information technology service provider’s stock valued at $553,244,000 after buying an additional 29,090 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Cognizant Technology Solutions by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 7,217,002 shares of the information technology service provider’s stock valued at $457,298,000 after buying an additional 482,575 shares during the period. Hedge funds and other institutional investors own 88.41% of the company’s stock.

CTSH has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $75.00 price target (down from $87.00) on shares of Cognizant Technology Solutions in a research note on Friday, May 3rd. Wedbush lowered shares of Cognizant Technology Solutions from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $80.00 to $70.00 in a research note on Friday, May 3rd. Argus lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. TheStreet upgraded shares of Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a research note on Tuesday, July 23rd. Finally, Oppenheimer lowered shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a research note on Friday, May 3rd. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the company. Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus target price of $74.48.

In other news, SVP Robert Telesmanic sold 3,343 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $60.00, for a total value of $200,580.00. Following the completion of the sale, the senior vice president now directly owns 7,337 shares of the company’s stock, valued at $440,220. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Karen Mcloughlin sold 7,905 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $64.28, for a total value of $508,133.40. Following the completion of the sale, the chief financial officer now directly owns 65,906 shares of the company’s stock, valued at $4,236,437.68. The disclosure for this sale can be found here. Insiders sold 47,120 shares of company stock valued at $2,960,866 over the last ninety days. 0.56% of the stock is currently owned by corporate insiders.

Shares of CTSH stock traded up $0.61 during trading hours on Tuesday, reaching $61.78. 3,229,637 shares of the stock were exchanged, compared to its average volume of 3,514,492. The stock has a fifty day moving average price of $64.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 2.55. Cognizant Technology Solutions Corp has a 12-month low of $56.73 and a 12-month high of $78.59. The stock has a market cap of $34.50 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 1.56 and a beta of 1.01.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. The firm had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.13 billion. Cognizant Technology Solutions had a return on equity of 20.52% and a net margin of 12.61%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 earnings per share. As a group, research analysts predict that Cognizant Technology Solutions Corp will post 3.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 22nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Wednesday, August 21st. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 19.90%.

Cognizant Technology Solutions Profile

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.

Featured Story: Why is a lock-up period needed for an IPO?

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

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