Zurcher Kantonalbank Zurich Cantonalbank reduced its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 14.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 112,987 shares of the information technology service provider’s stock after selling 19,676 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cognizant Technology Solutions were worth $6,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV lifted its position in Cognizant Technology Solutions by 1,818.9% during the first quarter. Creative Financial Designs Inc. ADV now owns 1,017 shares of the information technology service provider’s stock valued at $47,000 after purchasing an additional 964 shares in the last quarter. Pathstone Family Office LLC lifted its position in Cognizant Technology Solutions by 246.9% during the first quarter. Pathstone Family Office LLC now owns 1,561 shares of the information technology service provider’s stock valued at $73,000 after purchasing an additional 1,111 shares in the last quarter. Cornerstone Advisors Inc. lifted its position in Cognizant Technology Solutions by 20.5% during the first quarter. Cornerstone Advisors Inc. now owns 1,638 shares of the information technology service provider’s stock valued at $76,000 after purchasing an additional 279 shares in the last quarter. Maverick Capital Ltd. purchased a new position in Cognizant Technology Solutions during the first quarter valued at $100,000. Finally, First Mercantile Trust Co. lifted its position in shares of Cognizant Technology Solutions by 11.8% in the first quarter. First Mercantile Trust Co. now owns 2,290 shares of the information technology service provider’s stock valued at $106,000 after acquiring an additional 242 shares in the last quarter. Hedge funds and other institutional investors own 90.22% of the company’s stock.

Shares of NASDAQ CTSH opened at $68.32 on Friday. The business’s 50 day moving average is $57.51 and its two-hundred day moving average is $56.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.66 and a quick ratio of 2.90. Cognizant Technology Solutions Corp has a 1-year low of $40.01 and a 1-year high of $71.48. The stock has a market capitalization of $37.40 billion, a P/E ratio of 17.60, a PEG ratio of 1.78 and a beta of 1.15.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, July 29th. The information technology service provider reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.14. Cognizant Technology Solutions had a return on equity of 19.87% and a net margin of 9.67%. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same period in the previous year, the firm posted $0.94 earnings per share. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. As a group, equities research analysts anticipate that Cognizant Technology Solutions Corp will post 3.54 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 21st will be paid a dividend of $0.22 per share. The ex-dividend date is Thursday, August 20th. This represents a $0.88 annualized dividend and a yield of 1.29%. Cognizant Technology Solutions’s payout ratio is currently 22.06%.

CTSH has been the topic of several research analyst reports. Wedbush upgraded Cognizant Technology Solutions from an “underweight” rating to an “underperform” rating and set a $68.00 price objective on the stock in a research report on Thursday. UBS Group lowered their price objective on Cognizant Technology Solutions from $57.00 to $37.00 and set a “sell” rating on the stock in a research report on Tuesday, April 7th. upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and set a $60.00 price objective on the stock in a research report on Wednesday, June 10th. HSBC upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and boosted their price objective for the company from $56.00 to $68.00 in a research report on Monday, July 13th. Finally, Zacks Investment Research upgraded Cognizant Technology Solutions from a “sell” rating to a “hold” rating and set a $67.00 price objective on the stock in a research report on Wednesday. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus price target of $66.67.

In other news, insider Malcolm Frank sold 1,492 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $54.83, for a total transaction of $81,806.36. Following the transaction, the insider now owns 32,924 shares of the company’s stock, valued at $1,805,222.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Matthew W. Friedrich sold 459 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $54.62, for a total value of $25,070.58. Following the transaction, the general counsel now directly owns 1,072 shares in the company, valued at approximately $58,552.64. The disclosure for this sale can be found here. Insiders have sold 5,794 shares of company stock worth $318,107 over the last three months. 0.31% of the stock is currently owned by insiders.

Cognizant Technology Solutions Company 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.

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

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