Cim LLC cut its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 1.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 149,088 shares of the information technology service provider’s stock after selling 2,608 shares during the period. Cognizant Technology Solutions Corporation comprises 4.2% of Cim LLC’s holdings, making the stock its 7th largest position. Cim LLC’s holdings in Cognizant Technology Solutions Corporation were worth $9,899,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Guardian Life Insurance Co. of America boosted its stake in shares of 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. boosted its stake in shares of 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 boosted its stake in shares of 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 boosted its stake in shares of 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 stake in shares of Cognizant Technology Solutions Corporation during the first quarter worth $192,000. 87.63% of the stock is owned by hedge funds and other institutional investors.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 0.08% on Friday, reaching $70.83. 2,862,122 shares of the company’s stock traded hands. Cognizant Technology Solutions Corporation has a 52 week low of $45.44 and a 52 week high of $72.07. The firm has a market capitalization of $41.83 billion, a price-to-earnings ratio of 22.72 and a beta of 1.14. The company has a 50 day moving average price of $70.03 and a 200 day moving average price of $64.32.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings data 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 firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. Cognizant Technology Solutions Corporation’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $0.87 EPS. On average, equities research analysts predict that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd were paid a dividend of $0.15 per share. The ex-dividend date was Friday, August 18th. This represents a $0.60 annualized dividend and a yield of 0.85%. Cognizant Technology Solutions Corporation’s payout ratio is 19.17%.

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A number of brokerages recently weighed in on CTSH. Morgan Stanley boosted their price target 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. Credit Suisse Group set a $80.00 price target on shares of Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Pacific Crest reissued an “overweight” rating and issued a $75.00 price target (up from $73.00) on shares of Cognizant Technology Solutions Corporation in a research report on Thursday, June 1st. BidaskClub cut shares of Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $67.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Friday, May 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $70.02.

In other Cognizant Technology Solutions Corporation news, COO Srinivasan Veeraraghavachary sold 2,500 shares of the firm’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 transaction, the chief operating officer now owns 24,665 shares of the company’s stock, valued at approximately $1,775,880. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sean Middleton sold 1,460 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $67.39, for a total transaction of $98,389.40. Following the transaction, the insider now directly owns 2,308 shares in the company, valued at approximately $155,536.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,479 shares of company stock worth $8,269,763. 1.08% of the stock is 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.

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

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