Petrus Trust Company LTA cut its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 187,200 shares of the information technology service provider’s stock after selling 1,500 shares during the period. Cognizant Technology Solutions Corporation comprises about 2.9% of Petrus Trust Company LTA’s investment portfolio, making the stock its 10th biggest holding. Petrus Trust Company LTA’s holdings in Cognizant Technology Solutions Corporation were worth $12,430,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Frontier Wealth Management LLC grew its stake in shares of Cognizant Technology Solutions Corporation by 1.0% during the second quarter. Frontier Wealth Management LLC now owns 10,099 shares of the information technology service provider’s stock valued at $671,000 after acquiring an additional 99 shares in the last quarter. HighVista Strategies LLC acquired a new stake in shares of Cognizant Technology Solutions Corporation during the second quarter valued at about $478,000. Bayesian Capital Management LP grew its stake in shares of Cognizant Technology Solutions Corporation by 89.1% during the second quarter. Bayesian Capital Management LP now owns 15,510 shares of the information technology service provider’s stock valued at $1,030,000 after acquiring an additional 7,310 shares in the last quarter. Numeric Investors LLC grew its stake in shares of Cognizant Technology Solutions Corporation by 15.2% during the second quarter. Numeric Investors LLC now owns 62,100 shares of the information technology service provider’s stock valued at $4,123,000 after acquiring an additional 8,200 shares in the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new stake in shares of Cognizant Technology Solutions Corporation during the second quarter valued at about $35,307,000. Institutional investors own 87.59% of the company’s stock.

In related news, President Rajeev Mehta sold 34,437 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $72.54, for a total transaction of $2,498,059.98. Following the completion of the sale, the president now directly owns 170,063 shares of the company’s stock, valued at $12,336,370.02. The transaction was disclosed in a legal filing with the SEC, which is available at 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 transaction of $578,150.43. Following the sale, the insider now directly owns 9,429 shares of the company’s stock, valued at $668,798.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 287,357 shares of company stock valued at $20,521,043. 1.08% of the stock is currently owned by insiders.

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Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded down 0.063% on Thursday, reaching $71.865. 600,836 shares of the company’s stock traded hands. The firm has a market capitalization of $42.45 billion, a PE ratio of 23.056 and a beta of 1.14. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $73.00. The firm’s 50 day moving average price is $70.75 and its 200 day moving average price is $65.41.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted 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. The business had revenue of $3.67 billion during 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 revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.87 earnings per share. On average, analysts predict that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current fiscal year.

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

Several brokerages have recently weighed in on CTSH. Needham & Company LLC restated a “buy” rating and set a $78.00 target price (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, August 9th. Berenberg Bank upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and raised their target price for the company from $65.00 to $85.00 in a research note on Tuesday, August 8th. Zacks Investment Research upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Tuesday, August 8th. BMO Capital Markets restated a “buy” rating and set a $76.00 target price (up from $69.00) on shares of Cognizant Technology Solutions Corporation in a research note on Friday, August 4th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $80.00 target price (up from $66.00) on shares of Cognizant Technology Solutions Corporation in a research note on Thursday, June 15th. Seven research 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. The stock has a consensus rating of “Buy” and an average target price of $72.51.

Cognizant Technology Solutions Corporation 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.

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

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