Voya Investment Management LLC trimmed its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,061 shares of the information technology service provider’s stock after selling 2,007 shares during the quarter. Voya Investment Management LLC’s holdings in Cognizant Technology Solutions Corporation were worth $15,342,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Pathstone Family Office LLC boosted its stake in Cognizant Technology Solutions Corporation by 1,208.8% during the 2nd quarter. Pathstone Family Office LLC now owns 1,479 shares of the information technology service provider’s stock worth $2,485,000 after purchasing an additional 1,366 shares during the period. Acrospire Investment Management LLC increased its stake in Cognizant Technology Solutions Corporation by 92.6% in the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after purchasing an additional 800 shares during the period. Guardian Life Insurance Co. of America increased its stake 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 purchasing an additional 27 shares during the period. Manchester Capital Management LLC increased its stake in Cognizant Technology Solutions Corporation by 15.7% in the second quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock valued at $181,000 after purchasing an additional 370 shares during the period. Finally, First National Trust Co. acquired a new position in Cognizant Technology Solutions Corporation in the second quarter valued at $207,000. 87.60% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Corporation (CTSH) opened at 72.55 on Wednesday. Cognizant Technology Solutions Corporation has a 12 month low of $49.35 and a 12 month high of $73.28. The stock has a 50 day moving average price of $71.29 and a 200-day moving average price of $66.39. The stock has a market cap of $42.85 billion, a PE ratio of 23.28 and a beta of 1.12.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The business had revenue of $3.67 billion for 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 business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 EPS. On average, analysts expect that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current year.

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In related news, insider Venkat Krishnaswamy sold 8,151 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $70.93, for a total value of $578,150.43. Following the sale, the insider now owns 9,429 shares in the company, valued at $668,798.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Allen Shaheen sold 442 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $70.58, for a total transaction of $31,196.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 287,357 shares of company stock worth $20,521,043. Insiders own 1.08% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Bank of America Corporation reaffirmed a “buy” rating and issued a $86.00 target price on shares of Cognizant Technology Solutions Corporation in a report on Tuesday, September 12th. HSBC Holdings plc lowered Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and raised their price target for the stock from $65.00 to $68.00 in a report on Thursday, June 8th. Cowen and Company reissued a “buy” rating and set a $75.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Friday, July 28th. KeyCorp restated a “buy” rating and issued a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Friday, September 8th. Finally, Vetr upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $71.62 price target on the stock in a research report on Wednesday, August 2nd. Five research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $72.91.

About Cognizant Technology Solutions Corporation

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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