Wedbush Securities Inc. lowered its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,569 shares of the information technology service provider’s stock after selling 285 shares during the period. Wedbush Securities Inc.’s holdings in Cognizant Technology Solutions Corporation were worth $702,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTSH. Oakbrook Investments LLC increased its position in Cognizant Technology Solutions Corporation by 1.1% in the first quarter. Oakbrook Investments LLC now owns 49,050 shares of the information technology service provider’s stock worth $2,919,000 after buying an additional 550 shares during the last quarter. Wendell David Associates Inc. increased its position in Cognizant Technology Solutions Corporation by 7.1% in the first quarter. Wendell David Associates Inc. now owns 35,556 shares of the information technology service provider’s stock worth $2,116,000 after buying an additional 2,350 shares during the last quarter. Rockland Trust Co. increased its position in Cognizant Technology Solutions Corporation by 4.1% in the first quarter. Rockland Trust Co. now owns 141,234 shares of the information technology service provider’s stock worth $8,406,000 after buying an additional 5,573 shares during the last quarter. Quotient Investors LLC acquired a new position in Cognizant Technology Solutions Corporation during the first quarter worth about $1,257,000. Finally, Whitnell & Co. increased its position in Cognizant Technology Solutions Corporation by 118.4% in the first quarter. Whitnell & Co. now owns 13,975 shares of the information technology service provider’s stock worth $832,000 after buying an additional 7,575 shares during the last quarter. Institutional investors own 88.68% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (CTSH) opened at 71.84 on Tuesday. The company’s 50-day moving average price is $68.80 and its 200-day moving average price is $62.86. The company has a market capitalization of $42.43 billion, a PE ratio of 23.05 and a beta of 1.17. Cognizant Technology Solutions Corporation has a 1-year low of $45.44 and a 1-year high of $71.87.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly 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. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the previous year, the firm earned $0.87 earnings per share. The company’s revenue was up 8.9% compared to the same quarter last year. On average, equities analysts expect that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 19.17%.

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A number of research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Needham & Company LLC restated a “buy” rating and set a $78.00 target price (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, August 9th. BMO Capital Markets restated a “buy” rating and set a $76.00 target price (up from $69.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, August 4th. Credit Suisse Group set a $80.00 target price on shares of Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Finally, Loop Capital upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and upped their target price for the company from $63.00 to $83.00 in a research report on Friday, August 4th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $70.02.

In other news, insider Venkat Krishnaswamy sold 4,205 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $66.75, for a total transaction of $280,683.75. Following the transaction, the insider now directly owns 13,540 shares of the company’s stock, valued at $903,795. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gajakarnan Vibushanan Kandiah sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $65.32, for a total value of $97,980.00. Following the transaction, the insider now directly owns 12,015 shares in the company, valued at $784,819.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 73,011 shares of company stock worth $5,015,311. Insiders own 1.08% of the company’s stock.

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.

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

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