Ngam Advisors L.P. cut its position in shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 14.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 273,555 shares of the information technology service provider’s stock after selling 44,555 shares during the period. Ngam Advisors L.P.’s holdings in Cognizant Technology Solutions Corp. were worth $13,051,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Schroder Investment Management Group raised its position in shares of Cognizant Technology Solutions Corp. by 15.6% in the second quarter. Schroder Investment Management Group now owns 4,193,480 shares of the information technology service provider’s stock worth $240,034,000 after buying an additional 564,958 shares during the period. Saratoga Research & Investment Management raised its position in shares of Cognizant Technology Solutions Corp. by 10.8% in the second quarter. Saratoga Research & Investment Management now owns 455,167 shares of the information technology service provider’s stock worth $26,054,000 after buying an additional 44,205 shares during the period. Provident Trust Co. raised its position in shares of Cognizant Technology Solutions Corp. by 2.1% in the second quarter. Provident Trust Co. now owns 4,087,880 shares of the information technology service provider’s stock worth $233,990,000 after buying an additional 82,520 shares during the period. BNP Paribas Arbitrage SA raised its position in shares of Cognizant Technology Solutions Corp. by 314.6% in the third quarter. BNP Paribas Arbitrage SA now owns 523,833 shares of the information technology service provider’s stock worth $24,992,000 after buying an additional 397,480 shares during the period. Finally, Calvert Investment Management Inc. raised its position in shares of Cognizant Technology Solutions Corp. by 60.8% in the second quarter. Calvert Investment Management Inc. now owns 310,074 shares of the information technology service provider’s stock worth $17,749,000 after buying an additional 117,271 shares during the period. Institutional investors and hedge funds 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 down 1.58% on Tuesday, reaching $56.05. The company’s stock had a trading volume of 3,855,934 shares. The stock has a market cap of $34.01 billion, a P/E ratio of 21.89 and a beta of 1.34. The stock has a 50-day moving average of $52.33 and a 200-day moving average of $56.43. Cognizant Technology Solutions Corp. has a one year low of $45.44 and a one year high of $65.43.

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

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Several research firms have issued reports on CTSH. Morgan Stanley restated an “overweight” rating and set a $61.00 price target (down previously from $66.00) on shares of Cognizant Technology Solutions Corp. in a report on Sunday, October 9th. Needham & Company LLC restated a “buy” rating and set a $68.00 price target on shares of Cognizant Technology Solutions Corp. in a report on Sunday, October 2nd. Jefferies Group lowered their price target on shares of Cognizant Technology Solutions Corp. from $70.00 to $63.00 and set a “buy” rating for the company in a report on Monday, October 10th. Vetr lowered shares of Cognizant Technology Solutions Corp. from a “strong-buy” rating to a “buy” rating and set a $60.28 price target for the company. in a report on Monday, November 7th. Finally, Zacks Investment Research lowered shares of Cognizant Technology Solutions Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $64.93.

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