JPMorgan Chase & Co. decreased its stake in Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 7.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,431,637 shares of the information technology service provider’s stock after selling 467,904 shares during the period. JPMorgan Chase & Co. owned about 0.89% of Cognizant Technology Solutions Corp. worth $259,464,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Gulf International Bank UK Ltd boosted its stake in Cognizant Technology Solutions Corp. by 1.7% in the second quarter. Gulf International Bank UK Ltd now owns 182,615 shares of the information technology service provider’s stock worth $10,452,000 after buying an additional 3,000 shares in the last quarter. LGT Capital Partners LTD. bought a new stake in shares of Cognizant Technology Solutions Corp. during the second quarter worth approximately $8,837,000. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Cognizant Technology Solutions Corp. by 0.7% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 523,988 shares of the information technology service provider’s stock worth $29,993,000 after buying an additional 3,387 shares during the period. Exxonmobil Investment Management Inc. TX boosted its stake in shares of Cognizant Technology Solutions Corp. by 5.7% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 156,830 shares of the information technology service provider’s stock worth $8,977,000 after buying an additional 8,524 shares during the period. Finally, Watch Point Trust Co boosted its stake in shares of Cognizant Technology Solutions Corp. by 4.7% in the second quarter. Watch Point Trust Co now owns 35,565 shares of the information technology service provider’s stock worth $2,036,000 after buying an additional 1,600 shares during the period. 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) opened at 55.63 on Wednesday. The firm has a 50-day moving average price of $52.33 and a 200-day moving average price of $56.43. The firm has a market capitalization of $33.75 billion, a P/E ratio of 21.73 and a beta of 1.34. Cognizant Technology Solutions Corp. has a 52 week low of $45.44 and a 52 week high of $65.43.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last announced its quarterly earnings data 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 analyst estimates of $3.46 billion. Cognizant Technology Solutions Corp. had a net margin of 11.78% and a return on equity of 19.42%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.76 earnings per share. Equities analysts forecast that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current year.

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A number of equities research analysts have commented on the company. Needham & Company LLC lowered their target price 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. Nomura cut Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and lowered their target price for the company from $65.00 to $62.00 in a report on Monday, August 8th. Cantor Fitzgerald set a $68.00 target price on Cognizant Technology Solutions Corp. and gave the company a “buy” rating in a report on Friday, August 5th. Wedbush assumed coverage on Cognizant Technology Solutions Corp. in a report on Thursday, September 8th. They set a “neutral” rating and a $65.00 target price on the stock. Finally, Vetr cut Cognizant Technology Solutions Corp. from a “strong-buy” rating to a “buy” rating and set a $65.33 target price on the stock. in a report on Monday, September 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Cognizant Technology Solutions Corp. currently has an average rating of “Buy” and a consensus target price of $64.93.

In other news, VP Malcolm Frank sold 1,248 shares of the company’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 transaction, the vice president now owns 3,945 shares of the company’s stock, valued at $230,782.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Karen Mcloughlin sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $51.27, for a total transaction of $512,700.00. Following the transaction, the chief financial officer now directly owns 52,614 shares of the company’s stock, valued at approximately $2,697,519.78. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

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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