Piedmont Investment Advisors LLC cut its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,022 shares of the information technology service provider’s stock after selling 3,130 shares during the period. Piedmont Investment Advisors LLC’s holdings in Cognizant Technology Solutions Corporation were worth $8,301,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CTSH. BlackRock Inc. lifted its holdings in Cognizant Technology Solutions Corporation by 3,470.1% during the 1st quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock worth $2,425,316,000 after buying an additional 39,606,526 shares during the last quarter. FMR LLC lifted its holdings in Cognizant Technology Solutions Corporation by 81.6% during the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock worth $1,664,366,000 after buying an additional 11,262,360 shares during the last quarter. Thrivent Financial For Lutherans lifted its holdings in Cognizant Technology Solutions Corporation by 11,666.2% during the 1st quarter. Thrivent Financial For Lutherans now owns 2,468,550 shares of the information technology service provider’s stock worth $146,928,000 after buying an additional 2,447,570 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Cognizant Technology Solutions Corporation by 112.5% during the 1st quarter. Alliancebernstein L.P. now owns 4,487,749 shares of the information technology service provider’s stock worth $267,111,000 after buying an additional 2,375,626 shares during the last quarter. Finally, SRS Investment Management LLC purchased a new stake in Cognizant Technology Solutions Corporation during the 1st quarter worth about $134,797,000. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (CTSH) traded up 0.34% during trading on Friday, reaching $74.34. The company had a trading volume of 469,015 shares. 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 $74.77. The stock has a market capitalization of $43.91 billion, a price-to-earnings ratio of 23.85 and a beta of 1.12.

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

CTSH has been the subject of a number of recent analyst reports. Robert W. Baird reaffirmed a “buy” rating and set a $80.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Sunday, September 10th. BidaskClub raised Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd. Bank of America Corporation reaffirmed a “buy” rating and set a $86.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Tuesday, September 12th. Vetr raised Cognizant Technology Solutions Corporation from a “sell” rating to a “buy” rating and set a $76.85 price target for the company in a report on Tuesday, September 19th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Cognizant Technology Solutions Corporation in a report on Monday, September 18th. Four equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $73.66.

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In other Cognizant Technology Solutions Corporation news, insider Debashis Chatterjee sold 3,452 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $69.50, for a total value of $239,914.00. Following the sale, the insider now owns 42,628 shares in the company, valued at $2,962,646. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Allen Shaheen sold 442 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $70.58, for a total transaction of $31,196.36. The disclosure for this sale can be found here. Insiders sold 289,514 shares of company stock worth $20,680,893 in the last 90 days. 1.08% of the stock is owned by company insiders.

Cognizant Technology Solutions Corporation Company 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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