Bourne Lent Asset Management Inc. held its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,100 shares of the information technology service provider’s stock at the end of the second quarter. Bourne Lent Asset Management Inc.’s holdings in Cognizant Technology Solutions Corporation were worth $405,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CTSH. Guardian Life Insurance Co. of America increased 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 worth $140,000 after buying an additional 27 shares during the period. Assetmark Inc. increased 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 worth $154,000 after buying an additional 505 shares during the period. IFP Advisors Inc increased 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 worth $160,000 after buying an additional 781 shares during the period. Acadian Asset Management LLC increased 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 worth $192,000 after buying an additional 2,318 shares during the period. Finally, Advisory Services Network LLC bought a new position in Cognizant Technology Solutions Corporation during the first quarter worth $192,000. 89.21% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded down 2.23% on Monday, hitting $69.59. 4,235,081 shares of the stock were exchanged. Cognizant Technology Solutions Corporation has a 1-year low of $45.44 and a 1-year high of $71.17. The company has a 50-day moving average price of $67.94 and a 200 day moving average price of $62.02. The company has a market capitalization of $40.99 billion, a PE ratio of 25.31 and a beta of 1.17.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the prior year, the firm posted $0.87 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. Analysts anticipate that Cognizant Technology Solutions Corporation will post $3.68 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 22nd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 19.17%.

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A number of equities analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Cognizant Technology Solutions Corporation from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, May 8th. Vetr raised shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and set a $67.50 target price on the stock in a research report on Friday, April 14th. Credit Suisse Group set a $80.00 target price on shares of Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a research report on Friday. They noted that the move was a valuation call. Pacific Crest reissued an “overweight” rating and set a $75.00 target price (up from $73.00) on shares of Cognizant Technology Solutions Corporation in a research report on Thursday, June 1st. Finally, BidaskClub downgraded shares of Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $66.50.

In other news, EVP Allen Shaheen sold 4,186 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $67.56, for a total transaction of $282,806.16. Following the completion of the sale, the executive vice president now owns 442 shares of the company’s stock, valued at approximately $29,861.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gajakarnan Vibushanan Kandiah sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $67.44, for a total transaction of $674,400.00. Following the sale, the insider now directly owns 25,514 shares of the company’s stock, valued at approximately $1,720,664.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,783 shares of company stock valued at $3,472,615. 1.08% of the stock is currently owned by 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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