QS Investors LLC cut its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 56.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,065 shares of the information technology service provider’s stock after selling 20,562 shares during the period. QS Investors LLC’s holdings in Cognizant Technology Solutions Corporation were worth $1,067,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of CTSH. BlackRock Inc. raised its holdings in shares of Cognizant Technology Solutions Corporation by 3,470.1% during the first quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock worth $2,425,316,000 after purchasing an additional 39,606,526 shares during the period. Vanguard Group Inc. raised its holdings in shares of Cognizant Technology Solutions Corporation by 3.5% during the first quarter. Vanguard Group Inc. now owns 40,545,109 shares of the information technology service provider’s stock worth $2,413,246,000 after purchasing an additional 1,379,271 shares during the period. FMR LLC raised its holdings in shares of Cognizant Technology Solutions Corporation by 81.6% during the second quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock worth $1,664,366,000 after purchasing an additional 11,262,360 shares during the period. State Street Corp increased its holdings in shares of Cognizant Technology Solutions Corporation by 1.8% in the 1st quarter. State Street Corp now owns 24,267,262 shares of the information technology service provider’s stock worth $1,444,391,000 after acquiring an additional 435,142 shares during the period. Finally, Edgewood Management LLC increased its holdings in shares of Cognizant Technology Solutions Corporation by 3.9% in the 1st quarter. Edgewood Management LLC now owns 14,706,635 shares of the information technology service provider’s stock worth $875,339,000 after acquiring an additional 557,035 shares during the period. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

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A number of analysts recently weighed in on CTSH shares. Zacks Investment Research raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Tuesday. Bank of America Corporation reaffirmed a “buy” rating and issued a $86.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Tuesday, September 12th. KeyCorp reaffirmed a “buy” rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Friday, September 8th. Cowen and Company reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Friday, July 28th. Finally, Vetr raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $71.62 price objective on the stock in a report on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Cognizant Technology Solutions Corporation currently has a consensus rating of “Buy” and an average target price of $73.66.

In other Cognizant Technology Solutions Corporation news, COO Srinivasan Veeraraghavachary sold 2,500 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $71.00, for a total value of $177,500.00. Following the transaction, the chief operating officer now directly owns 27,165 shares of the company’s stock, valued at approximately $1,928,715. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Debashis Chatterjee sold 2,190 shares of the company’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $74.00, for a total value of $162,060.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 289,514 shares of company stock worth $20,680,893. Insiders own 1.08% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 74.09 on Friday. The stock has a 50 day moving average of $71.89 and a 200 day moving average of $67.02. Cognizant Technology Solutions Corporation has a 52 week low of $49.35 and a 52 week high of $74.47. The firm has a market cap of $43.76 billion, a P/E ratio of 23.77 and a beta of 1.12.

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, beating analysts’ consensus estimates of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the prior year, the business earned $0.87 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities analysts forecast that Cognizant Technology Solutions Corporation will post $3.70 earnings per share 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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