Saratoga Research & Investment Management boosted its stake in shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 10.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 455,167 shares of the information technology service provider’s stock after buying an additional 44,205 shares during the period. Cognizant Technology Solutions Corp. makes up approximately 2.3% of Saratoga Research & Investment Management’s portfolio, making the stock its 23rd largest position. Saratoga Research & Investment Management owned approximately 0.08% of Cognizant Technology Solutions Corp. worth $26,054,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTSH. Washington Trust Bank boosted its stake in shares of Cognizant Technology Solutions Corp. by 6.8% in the second quarter. Washington Trust Bank now owns 1,789 shares of the information technology service provider’s stock valued at $102,000 after buying an additional 114 shares during the last quarter. First Manhattan Co. boosted its position in Cognizant Technology Solutions Corp. by 16.8% in the second quarter. First Manhattan Co. now owns 2,523 shares of the information technology service provider’s stock worth $144,000 after buying an additional 363 shares during the last quarter. Iowa State Bank acquired a new position in Cognizant Technology Solutions Corp. during the second quarter worth about $169,000. Duncker Streett & Co. Inc. boosted its position in Cognizant Technology Solutions Corp. by 5.0% in the second quarter. Duncker Streett & Co. Inc. now owns 3,550 shares of the information technology service provider’s stock worth $203,000 after buying an additional 170 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in Cognizant Technology Solutions Corp. during the first quarter worth about $219,000. 87.00% of the stock is owned by institutional investors.

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

Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded down 1.54% during trading on Friday, hitting $50.46. The company had a trading volume of 4,966,390 shares. The firm’s 50 day moving average is $54.14 and its 200-day moving average is $58.23. The stock has a market capitalization of $30.63 billion, a P/E ratio of 20.35 and a beta of 1.43. Cognizant Technology Solutions Corp. has a 52 week low of $45.44 and a 52 week high of $69.80.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last issued its quarterly earnings results on Friday, August 5th. The information technology service provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. The business earned $3.37 billion during the quarter, compared to analysts’ expectations of $3.37 billion. Cognizant Technology Solutions Corp. had a return on equity of 19.31% and a net margin of 11.65%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.79 earnings per share. Equities research analysts anticipate that Cognizant Technology Solutions Corp. will post $3.38 EPS for the current fiscal year.

A number of research firms have issued reports on CTSH. Jefferies Group restated a “buy” rating and set a $70.00 price target on shares of Cognizant Technology Solutions Corp. in a report on Monday, June 20th. Nomura cut Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and cut their price target for the stock from $65.00 to $62.00 in a report on Monday, August 8th. Needham & Company LLC cut their price target on Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, August 8th. Cantor Fitzgerald set a $68.00 price target on Cognizant Technology Solutions Corp. and gave the stock a “buy” rating in a report on Friday, August 5th. Finally, SunTrust Banks Inc. cut Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and cut their price target for the stock from $70.00 to $65.00 in a report on Tuesday, July 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $65.52.

In other Cognizant Technology Solutions Corp. news, CFO Karen Mcloughlin sold 20,000 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $60.00, for a total value of $1,200,000.00. Following the completion of the sale, the chief financial officer now owns 60,741 shares in the company, valued at $3,644,460. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Francisco Dsouza sold 100,000 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $58.57, for a total value of $5,857,000.00. Following the completion of the sale, the chief executive officer now owns 422,602 shares of the company’s stock, valued at approximately $24,751,799.14. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.

Cognizant Technology Solutions Corp. Company Profile

Cognizant Technology Solutions Corporation is a provider of information technology (IT), consulting and business process services. The Company operates through four segments: Financial Services, which includes customers providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers, as well as life sciences customers, including pharmaceutical, biotech and medical device companies; Manufacturing, Retail and Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as customers providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology.

5 Day Chart for NASDAQ:CTSH

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