Prudential Financial Inc. boosted its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 10.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,499,742 shares of the information technology service provider’s stock after buying an additional 333,180 shares during the period. Prudential Financial Inc. owned approximately 0.59% of Cognizant Technology Solutions Corporation worth $232,383,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of 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 last quarter. Vanguard Group Inc. increased its stake in shares of 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. State Street Corp increased its stake in shares of Cognizant Technology Solutions Corporation by 1.8% in the first quarter. State Street Corp now owns 24,267,262 shares of the information technology service provider’s stock worth $1,444,391,000 after buying an additional 435,142 shares during the last quarter. Edgewood Management LLC increased its stake in shares of 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 last quarter. Finally, FMR LLC increased its stake in shares of 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 last quarter. 88.68% of the stock is owned by institutional investors and hedge funds.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded up 1.00% during midday trading on Friday, reaching $70.52. 246,741 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $69.57 and its 200-day moving average is $63.71. The stock has a market cap of $41.65 billion, a PE ratio of 22.62 and a beta of 1.17. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $72.07.

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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.11. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 earnings per share. On average, equities analysts expect that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current year.

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

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CTSH has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price objective on shares of Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Zacks Investment Research downgraded shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 10th. Vetr downgraded shares of Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating and set a $67.50 price objective for the company. in a research report on Monday, May 1st. Deutsche Bank AG reissued a “buy” rating and set a $79.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, May 31st. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $67.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Monday, May 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Cognizant Technology Solutions Corporation has a consensus rating of “Buy” and a consensus target price of $70.02.

In other Cognizant Technology Solutions Corporation news, COO Srinivasan Veeraraghavachary sold 2,500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $72.00, for a total transaction of $180,000.00. Following the sale, the chief operating officer now directly owns 24,665 shares in the company, valued at $1,775,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allen Shaheen sold 4,186 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $67.56, for a total transaction of $282,806.16. Following the sale, the executive vice president now owns 442 shares in the company, valued at $29,861.52. The disclosure for this sale can be found here. Insiders have sold 93,479 shares of company stock worth $6,519,763 over the last quarter. 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.

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

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