New York State Common Retirement Fund trimmed its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 1.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,764,164 shares of the information technology service provider’s stock after selling 26,237 shares during the period. New York State Common Retirement Fund owned approximately 0.30% of Cognizant Technology Solutions Corporation worth $117,140,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC raised its holdings in shares of Cognizant Technology Solutions Corporation by 92.6% during the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after purchasing an additional 800 shares during the last quarter. Guardian Life Insurance Co. of America lifted 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 valued at $140,000 after buying an additional 27 shares during the last quarter. Assetmark Inc. lifted 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 valued at $154,000 after buying an additional 505 shares during the last quarter. Manchester Capital Management LLC lifted its position in Cognizant Technology Solutions Corporation by 15.7% in the second quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock valued at $181,000 after buying an additional 370 shares during the last quarter. Finally, First National Trust Co. purchased a new stake in shares of Cognizant Technology Solutions Corporation during the second quarter worth approximately $207,000. 87.59% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on CTSH. KeyCorp restated a “buy” rating and set a $79.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Friday, September 8th. Bank of America Corporation reiterated a “buy” rating and issued a $86.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Tuesday, September 12th. 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 note on Friday, August 4th. They noted that the move was a valuation call. Pacific Crest reiterated an “overweight” rating and issued a $75.00 price target (up from $73.00) on shares of Cognizant Technology Solutions Corporation in a research note on Thursday, June 1st. Finally, BidaskClub lowered shares of Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cognizant Technology Solutions Corporation currently has an average rating of “Buy” and a consensus target price of $72.30.

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Shares of Cognizant Technology Solutions Corporation (CTSH) traded up 0.31% during midday trading on Monday, hitting $72.04. The company had a trading volume of 452,790 shares. The company has a market cap of $42.55 billion, a price-to-earnings ratio of 23.11 and a beta of 1.14. The stock’s 50-day moving average price is $70.58 and its 200-day moving average price is $65.16. Cognizant Technology Solutions Corporation has a 12 month low of $45.44 and a 12 month high of $73.00.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) 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 return on equity of 18.72% and a net margin of 13.36%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS. On average, equities research analysts forecast that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio is currently 19.17%.

In other Cognizant Technology Solutions Corporation news, COO Srinivasan Veeraraghavachary sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $73.00, for a total transaction of $182,500.00. Following the transaction, the chief operating officer now owns 24,459 shares of the company’s stock, valued at $1,785,507. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Venkat Krishnaswamy sold 8,151 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $70.93, for a total value of $578,150.43. Following the transaction, the insider now directly owns 9,429 shares in the company, valued at approximately $668,798.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 280,807 shares of company stock worth $20,029,239. 1.08% of the stock is owned by company 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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