Alta Capital Management LLC increased its stake in Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 5.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 837,271 shares of the information technology service provider’s stock after buying an additional 42,975 shares during the period. Cognizant Technology Solutions Corp. accounts for approximately 2.5% of Alta Capital Management LLC’s holdings, making the stock its 20th largest position. Alta Capital Management LLC owned 0.14% of Cognizant Technology Solutions Corp. worth $39,946,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of 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 in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Cognizant Technology Solutions Corp. during the second quarter valued at about $123,000. Exane Derivatives boosted its stake in shares of Cognizant Technology Solutions Corp. by 22.3% in the second quarter. Exane Derivatives now owns 2,278 shares of the information technology service provider’s stock valued at $130,000 after buying an additional 416 shares in the last quarter. First Manhattan Co. boosted its stake in shares of 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 valued at $144,000 after buying an additional 363 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Cognizant Technology Solutions Corp. by 29.4% in the second quarter. Assetmark Inc. now owns 2,699 shares of the information technology service provider’s stock valued at $154,000 after buying an additional 613 shares in the last quarter. Institutional investors own 84.02% of the company’s stock.

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

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 7.10% during midday trading on Monday, hitting $57.03. 19,973,055 shares of the stock traded hands. Cognizant Technology Solutions Corp. has a 12-month low of $45.44 and a 12-month high of $65.43. The firm has a market cap of $34.60 billion, a P/E ratio of 22.28 and a beta of 1.34. The company’s 50-day moving average is $52.14 and its 200 day moving average is $56.53.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last issued its earnings results on Monday, November 7th. The information technology service provider reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.02. The business earned $3.45 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Cognizant Technology Solutions Corp. had a net margin of 11.78% and a return on equity of 19.42%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.76 earnings per share. On average, analysts anticipate that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current fiscal year.

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CTSH has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Cognizant Technology Solutions Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 15th. Cantor Fitzgerald reiterated a “buy” rating and set a $68.00 price target on shares of Cognizant Technology Solutions Corp. in a research note on Tuesday, November 8th. Deutsche Bank AG reiterated a “buy” rating and set a $69.00 price target on shares of Cognizant Technology Solutions Corp. in a research note on Friday, October 21st. cut shares of Cognizant Technology Solutions Corp. from an “outperform” rating to an “underperform” rating and dropped their price target for the stock from $70.00 to $60.00 in a research note on Wednesday, September 14th. Finally, Bank of America Corp. cut shares of Cognizant Technology Solutions Corp. from a “buy” rating to an “underperform” rating in a research note on Tuesday, November 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Cognizant Technology Solutions Corp. currently has an average rating of “Buy” and a consensus target price of $64.99.

In related news, VP Malcolm Frank sold 1,248 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $58.50, for a total transaction of $73,008.00. Following the completion of the sale, the vice president now directly owns 3,945 shares in the company, valued at $230,782.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Karen Mcloughlin sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $51.27, for a total transaction of $512,700.00. Following the sale, the chief financial officer now owns 52,614 shares of the company’s stock, valued at $2,697,519.78. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

About Cognizant Technology Solutions Corp.

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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