Balentine LLC lowered its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 9.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,765 shares of the information technology service provider’s stock after selling 380 shares during the period. Balentine LLC’s holdings in Cognizant Technology Solutions Corporation were worth $250,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CTSH. Acrospire Investment Management LLC boosted its holdings 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 worth $110,000 after acquiring an additional 800 shares in the last quarter. Guardian Life Insurance Co. of America boosted its holdings 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 worth $140,000 after acquiring an additional 27 shares in the last quarter. Manchester Capital Management LLC boosted its holdings 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 worth $181,000 after acquiring an additional 370 shares in the last quarter. First National Trust Co. bought a new position in Cognizant Technology Solutions Corporation in the second quarter worth approximately $207,000. Finally, Lakeview Capital Partners LLC bought a new position in Cognizant Technology Solutions Corporation in the second quarter worth approximately $210,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

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In other Cognizant Technology Solutions Corporation news, insider Debashis Chatterjee sold 3,452 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $69.50, for a total transaction of $239,914.00. Following the completion of the sale, the insider now directly owns 42,628 shares in the company, valued at approximately $2,962,646. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Rajeev Mehta sold 32,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $71.02, for a total transaction of $2,272,640.00. Following the sale, the president now owns 187,965 shares of the company’s stock, valued at $13,349,274.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 287,324 shares of company stock valued at $20,518,833. Company insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded down 0.549% during mid-day trading on Monday, reaching $73.395. The company’s stock had a trading volume of 506,799 shares. Cognizant Technology Solutions Corporation has a 12-month low of $49.35 and a 12-month high of $73.91. The company has a 50-day moving average price of $71.44 and a 200-day moving average price of $66.59. The firm has a market cap of $43.35 billion, a PE ratio of 23.547 and a beta of 1.12.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 EPS. On average, equities research analysts expect that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.

Several brokerages have issued reports on CTSH. KeyCorp reiterated a “buy” rating and issued a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a report 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 report on Tuesday, September 12th. Credit Suisse Group set a $80.00 price target on Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a report on Friday, August 4th. They noted that the move was a valuation call. Wedbush reiterated an “outperform” rating on shares of Cognizant Technology Solutions Corporation in a report on Monday, September 18th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $76.00 price target (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, August 4th. Five analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $72.91.

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.

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

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