Sheaff Brock Investment Advisors LLC cut its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 12.2% during the first quarter, Holdings Channel reports. The institutional investor owned 5,068 shares of the information technology service provider’s stock after selling 705 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Cognizant Technology Solutions Corp were worth $302,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Allegis Investment Advisors LLC increased its position in shares of Cognizant Technology Solutions Corp by 10.4% in the third quarter. Allegis Investment Advisors LLC now owns 26,125 shares of the information technology service provider’s stock valued at $1,246,000 after buying an additional 2,458 shares during the last quarter. Moreno Evelyn V increased its position in shares of Cognizant Technology Solutions Corp by 15.7% in the first quarter. Moreno Evelyn V now owns 136,275 shares of the information technology service provider’s stock valued at $8,111,000 after buying an additional 18,540 shares during the last quarter. State of Wisconsin Investment Board increased its position in shares of Cognizant Technology Solutions Corp by 16.3% in the third quarter. State of Wisconsin Investment Board now owns 487,589 shares of the information technology service provider’s stock valued at $23,263,000 after buying an additional 68,203 shares during the last quarter. PICTET BANK & TRUST Ltd increased its position in shares of Cognizant Technology Solutions Corp by 20.9% in the third quarter. PICTET BANK & TRUST Ltd now owns 55,350 shares of the information technology service provider’s stock valued at $2,641,000 after buying an additional 9,550 shares during the last quarter. Finally, Meridian Management Co. purchased a new position in shares of Cognizant Technology Solutions Corp during the third quarter valued at $2,673,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

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

Cognizant Technology Solutions Corp (NASDAQ:CTSH) traded up 0.32% during mid-day trading on Friday, reaching $65.23. 1,175,627 shares of the company were exchanged. The stock’s 50-day moving average is $60.51 and its 200-day moving average is $57.43. The company has a market cap of $38.42 billion, a P/E ratio of 23.73 and a beta of 1.28. Cognizant Technology Solutions Corp has a 12 month low of $45.44 and a 12 month high of $65.32. Cognizant Technology Solutions Corp also was the target of some unusual options trading on Wednesday. Stock investors acquired 20,753 call options on the company. This is an increase of 798% compared to the average volume of 2,310 call options.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) last issued its quarterly earnings data on Friday, May 5th. The information technology service provider reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.09. Cognizant Technology Solutions Corp had a return on equity of 18.83% and a net margin of 11.52%. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same period last year, the business earned $0.80 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. Equities analysts expect that Cognizant Technology Solutions Corp will post $3.66 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 31st. Investors of record on Tuesday, May 23rd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, May 18th.

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CTSH has been the subject of several analyst reports. BMO Capital Markets reissued a “buy” rating and issued a $60.00 target price on shares of Cognizant Technology Solutions Corp in a research note on Thursday, February 9th. Vetr downgraded shares of Cognizant Technology Solutions Corp from a “strong-buy” rating to a “buy” rating and set a $62.84 target price for the company. in a research note on Wednesday, February 8th. Pacific Crest set a $65.00 target price on shares of Cognizant Technology Solutions Corp and gave the company a “buy” rating in a research note on Wednesday, January 25th. SunTrust Banks, Inc. raised shares of Cognizant Technology Solutions Corp from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Thursday, April 13th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $67.00 target price on shares of Cognizant Technology Solutions Corp in a research note on Friday, May 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have given a buy rating to the company. Cognizant Technology Solutions Corp presently has a consensus rating of “Buy” and an average target price of $63.45.

In related news, CFO Karen Mcloughlin sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $58.80, for a total value of $294,000.00. Following the transaction, the chief financial officer now directly owns 35,741 shares of the company’s stock, valued at approximately $2,101,570.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Srinivasan Veeraraghavachary sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $62.50, for a total value of $750,000.00. The disclosure for this sale can be found here. Insiders sold a total of 41,869 shares of company stock worth $2,580,012 over the last three months. 0.81% of the stock is owned by company insiders.

About Cognizant Technology Solutions Corp

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.

5 Day Chart for NASDAQ:CTSH

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