Banque Pictet & Cie SA boosted its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 425,578 shares of the information technology service provider’s stock after buying an additional 12,054 shares during the period. Banque Pictet & Cie SA owned 0.07% of Cognizant Technology Solutions Corporation worth $28,258,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Guardian Life Insurance Co. of America raised its position 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 last quarter. Assetmark Inc. raised its position 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 last quarter. IFP Advisors Inc raised its position 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 last quarter. First National Trust Co. purchased a new position in shares of Cognizant Technology Solutions Corporation during the second quarter worth approximately $207,000. Finally, Lakeview Capital Partners LLC purchased a new position in shares of Cognizant Technology Solutions Corporation during the second quarter worth approximately $210,000. Hedge funds and other institutional investors own 87.63% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 70.83 on Friday. The firm has a 50 day moving average price of $70.03 and a 200 day moving average price of $64.32. The firm has a market cap of $41.83 billion, a P/E ratio of 22.72 and a beta of 1.14. Cognizant Technology Solutions Corporation has a 1-year low of $45.44 and a 1-year high of $72.07.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, beating the 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 firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the business earned $0.87 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. Analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current year.

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

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A number of research analysts have commented on the company. Credit Suisse Group set a $70.00 price objective on Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research report on Saturday, May 6th. Needham & Company LLC reissued a “buy” rating and issued a $78.00 price target (up previously from $72.00) on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, August 9th. Berenberg Bank raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and increased their price target for the company from $65.00 to $85.00 in a research note on Tuesday, August 8th. Zacks Investment Research raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Tuesday, August 8th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $76.00 price target (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $70.02.

In other news, EVP Allen Shaheen sold 442 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $70.58, for a total transaction of $31,196.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Srinivasan Veeraraghavachary sold 2,500 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $71.00, for a total transaction of $177,500.00. Following the transaction, the chief operating officer now owns 27,165 shares in the company, valued at approximately $1,928,715. The disclosure for this sale can be found here. Insiders have sold 118,479 shares of company stock worth $8,269,763 in the last quarter. Company insiders own 1.08% of the company’s stock.

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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