Shelton Capital Management trimmed its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 39.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,233 shares of the information technology service provider’s stock after selling 33,411 shares during the quarter. Shelton Capital Management’s holdings in Cognizant Technology Solutions Corporation were worth $3,335,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Pathstone Family Office LLC raised its holdings in Cognizant Technology Solutions Corporation by 1,208.8% during the 2nd quarter. Pathstone Family Office LLC now owns 1,479 shares of the information technology service provider’s stock worth $2,485,000 after buying an additional 1,366 shares during the period. Acrospire Investment Management LLC lifted its stake in Cognizant Technology Solutions Corporation by 92.6% in 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 buying an additional 800 shares in the last quarter. Guardian Life Insurance Co. of America lifted its stake 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 in the last quarter. Manchester Capital Management LLC lifted its stake 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 in the last quarter. Finally, First National Trust Co. acquired a new position in shares of Cognizant Technology Solutions Corporation in the second quarter valued at approximately $207,000. 87.60% of the stock is owned by institutional investors.

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A number of equities research analysts recently commented on CTSH shares. BMO Capital Markets restated a “buy” rating and set a $76.00 price objective (up from $69.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, August 4th. Zacks Investment Research lowered shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $78.00 target price (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, August 9th. Vetr upgraded Cognizant Technology Solutions Corporation from a “sell” rating to a “buy” rating and set a $76.85 target price for the company in a report on Tuesday, September 19th. Finally, Berenberg Bank upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $65.00 to $85.00 in a report on Tuesday, August 8th. Five equities 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 stock. Cognizant Technology Solutions Corporation has a consensus rating of “Buy” and an average target price of $72.91.

In other Cognizant Technology Solutions Corporation news, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $70.00, for a total value of $1,750,000.00. Following the sale, the insider now directly owns 360,856 shares in the company, valued at $25,259,920. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Allen Shaheen sold 442 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $70.58, for a total value of $31,196.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 287,357 shares of company stock valued at $20,521,043. 1.08% of the stock is currently owned by company insiders.

Shares of Cognizant Technology Solutions Corporation (CTSH) traded up 0.503% during midday trading on Wednesday, reaching $72.915. The company’s stock had a trading volume of 965,683 shares. The stock has a market cap of $43.07 billion, a PE ratio of 23.393 and a beta of 1.12. Cognizant Technology Solutions Corporation has a one year low of $49.35 and a one year high of $73.28. The firm has a 50-day moving average of $71.29 and a 200-day moving average of $66.39.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.65 billion. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The business’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 earnings per share. On average, analysts forecast that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current year.

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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