Amalgamated Bank reduced its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 30.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,807 shares of the information technology service provider’s stock after selling 19,675 shares during the period. Amalgamated Bank’s holdings in Cognizant Technology Solutions Corporation were worth $2,726,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CTSH. Guardian Life Insurance Co. of America raised its position in Cognizant Technology Solutions Corporation by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock valued at $140,000 after buying an additional 27 shares during the period. Assetmark Inc. raised its position in Cognizant Technology Solutions Corporation by 24.2% in the first quarter. Assetmark Inc. now owns 2,592 shares of the information technology service provider’s stock valued at $154,000 after buying an additional 505 shares during the period. IFP Advisors Inc raised its position in Cognizant Technology Solutions Corporation by 40.8% in the first quarter. IFP Advisors Inc now owns 2,696 shares of the information technology service provider’s stock valued at $160,000 after buying an additional 781 shares during the period. Advisory Services Network LLC acquired a new position in Cognizant Technology Solutions Corporation during the first quarter valued at $192,000. Finally, Acadian Asset Management LLC raised its position in Cognizant Technology Solutions Corporation by 253.9% in the first quarter. Acadian Asset Management LLC now owns 3,231 shares of the information technology service provider’s stock valued at $192,000 after buying an additional 2,318 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded up 2.09% during trading on Thursday, reaching $69.95. The company had a trading volume of 5,882,653 shares. The company has a market capitalization of $41.20 billion, a PE ratio of 25.44 and a beta of 1.17. The company has a 50 day moving average price of $67.94 and a 200 day moving average price of $62.02. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $70.49.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.65 billion. Cognizant Technology Solutions Corporation had a return on equity of 18.77% and a net margin of 12.07%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 EPS. On average, equities analysts forecast that Cognizant Technology Solutions Corporation will post $3.67 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, August 18th. Cognizant Technology Solutions Corporation’s payout ratio is 21.90%.

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Several equities analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Cognizant Technology Solutions Corporation from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, May 8th. Vetr upgraded shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and set a $67.50 price objective for the company in a research report on Friday, April 14th. Pacific Crest restated an “overweight” rating and set a $75.00 price objective (up previously from $73.00) on shares of Cognizant Technology Solutions Corporation in a research report on Thursday, June 1st. Credit Suisse Group set a $70.00 price objective on shares of Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research report on Saturday, May 6th. Finally, BidaskClub lowered shares of Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $65.94.

In other news, COO Srinivasan Veeraraghavachary sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $62.50, for a total transaction of $750,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gajakarnan Vibushanan Kandiah sold 4,999 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $69.50, for a total value of $347,430.50. Following the sale, the insider now owns 10,515 shares in the company, valued at approximately $730,792.50. The disclosure for this sale can be found here. Insiders sold a total of 63,783 shares of company stock worth $4,222,615 in the last 90 days. Company insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corporation Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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

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