Brown Advisory Securities LLC raised its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 27.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,449 shares of the information technology service provider’s stock after buying an additional 3,079 shares during the period. Brown Advisory Securities LLC’s holdings in Cognizant Technology Solutions Corporation were worth $862,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CTSH. BlackRock Inc. increased its stake in Cognizant Technology Solutions Corporation by 3,470.1% in the first quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock worth $2,425,316,000 after buying an additional 39,606,526 shares during the period. Vanguard Group Inc. increased its stake in Cognizant Technology Solutions Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 40,545,109 shares of the information technology service provider’s stock worth $2,413,246,000 after buying an additional 1,379,271 shares during the last quarter. Edgewood Management LLC boosted its position in Cognizant Technology Solutions Corporation by 3.9% in the first quarter. Edgewood Management LLC now owns 14,706,635 shares of the information technology service provider’s stock worth $875,339,000 after buying an additional 557,035 shares during the period. FMR LLC boosted its position in Cognizant Technology Solutions Corporation by 2.3% in the first quarter. FMR LLC now owns 13,803,392 shares of the information technology service provider’s stock worth $821,576,000 after buying an additional 314,137 shares during the period. Finally, Swedbank boosted its position in Cognizant Technology Solutions Corporation by 2.6% in the first quarter. Swedbank now owns 7,731,077 shares of the information technology service provider’s stock worth $460,154,000 after buying an additional 194,890 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded up 2.09% during mid-day trading on Thursday, hitting $69.95. The stock had a trading volume of 5,882,713 shares. Cognizant Technology Solutions Corporation has a one year low of $45.44 and a one year high of $70.49. The firm has a 50 day moving average of $67.94 and a 200 day moving average of $62.02. The stock has a market cap of $41.20 billion, a price-to-earnings ratio of 25.44 and a beta of 1.17.

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

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

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

In other Cognizant Technology Solutions Corporation news, COO Srinivasan Veeraraghavachary sold 12,000 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $62.50, for a total value of $750,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allen Shaheen sold 4,186 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $67.56, for a total transaction of $282,806.16. Following the completion of the transaction, the executive vice president now owns 442 shares of the company’s stock, valued at $29,861.52. The disclosure for this sale can be found here. Insiders have sold a total of 63,783 shares of company stock valued at $4,222,615 in the last three months. 1.08% of the stock is currently owned by corporate insiders.

About Cognizant Technology Solutions Corporation

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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