Charter Trust Co. bought a new position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,558 shares of the information technology service provider’s stock, valued at approximately $202,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Linscomb & Williams Inc. lifted its position in Cognizant Technology Solutions by 16.6% in the first quarter. Linscomb & Williams Inc. now owns 4,668 shares of the information technology service provider’s stock worth $376,000 after purchasing an additional 664 shares during the period. Federated Investors Inc. PA lifted its position in Cognizant Technology Solutions by 2.4% in the first quarter. Federated Investors Inc. PA now owns 29,089 shares of the information technology service provider’s stock worth $2,341,000 after purchasing an additional 673 shares during the period. Eads & Heald Wealth Management lifted its position in Cognizant Technology Solutions by 2.2% in the second quarter. Eads & Heald Wealth Management now owns 30,916 shares of the information technology service provider’s stock worth $2,442,000 after purchasing an additional 673 shares during the period. GW Henssler & Associates Ltd. lifted its position in Cognizant Technology Solutions by 0.4% in the second quarter. GW Henssler & Associates Ltd. now owns 185,120 shares of the information technology service provider’s stock worth $14,623,000 after purchasing an additional 679 shares during the period. Finally, Norway Savings Bank lifted its position in Cognizant Technology Solutions by 6.9% in the second quarter. Norway Savings Bank now owns 10,601 shares of the information technology service provider’s stock worth $837,000 after purchasing an additional 685 shares during the period. Hedge funds and other institutional investors own 88.14% of the company’s stock.

CTSH has been the subject of a number of research analyst reports. Pivotal Research restated a “buy” rating and issued a $91.00 target price on shares of Cognizant Technology Solutions in a research report on Monday, May 7th. ValuEngine downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Monday, May 7th. Morgan Stanley cut their price objective on Cognizant Technology Solutions to $88.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 8th. Credit Suisse Group set a $95.00 price objective on Cognizant Technology Solutions and gave the company a “buy” rating in a research report on Tuesday, May 8th. Finally, BidaskClub downgraded Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $85.52.

In other news, insider Sumithra Gomatam sold 1,597 shares of the stock in a transaction on Monday, June 4th. The stock was sold at an average price of $77.02, for a total value of $123,000.94. Following the completion of the sale, the insider now owns 6,312 shares in the company, valued at $486,150.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Allen Shaheen sold 352 shares of the stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $74.89, for a total value of $26,361.28. The disclosure for this sale can be found here. Insiders sold 74,972 shares of company stock valued at $5,824,358 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

CTSH opened at $77.39 on Friday. The firm has a market capitalization of $44.48 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. Cognizant Technology Solutions Corp has a 12-month low of $69.24 and a 12-month high of $85.10. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Thursday, August 2nd. The information technology service provider reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.09. The company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.03 billion. Cognizant Technology Solutions had a return on equity of 21.66% and a net margin of 9.37%. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 earnings per share. sell-side analysts anticipate that Cognizant Technology Solutions Corp will post 4.18 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Wednesday, August 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.03%. Cognizant Technology Solutions’s payout ratio is currently 22.66%.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

Further Reading: How Important is Technical Analysis of Stocks

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Corp (NASDAQ:CTSH).

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

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.