Livforsakringsbolaget Skandia Omsesidigt continued to hold its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,620 shares of the information technology service provider’s stock at the end of the second quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Cognizant Technology Solutions Corporation were worth $772,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of CTSH. BlackRock Inc. increased its stake in shares of Cognizant Technology Solutions Corporation by 3,470.1% in 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 buying an additional 39,606,526 shares during the period. Comgest Global Investors S.A.S. bought a new stake in shares of Cognizant Technology Solutions Corporation during the first quarter worth about $224,748,000. Thrivent Financial For Lutherans increased its stake in shares of Cognizant Technology Solutions Corporation by 11,666.2% in the first 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 period. Alliancebernstein L.P. increased its stake in shares of Cognizant Technology Solutions Corporation by 112.5% in the first 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 period. Finally, SRS Investment Management LLC bought a new stake in shares of Cognizant Technology Solutions Corporation during the first quarter worth about $134,797,000. 89.94% of the stock is owned by institutional investors and hedge funds.
Cognizant Technology Solutions Corporation (CTSH) opened at 69.96 on Friday. Cognizant Technology Solutions Corporation has a 52 week low of $45.44 and a 52 week high of $70.30. The stock has a 50 day moving average price of $67.33 and a 200 day moving average price of $61.24. The stock has a market cap of $41.21 billion, a PE ratio of 25.45 and a beta of 1.16.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its earnings results on Friday, May 5th. The information technology service provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Cognizant Technology Solutions Corporation had a return on equity of 18.77% and a net margin of 12.07%. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same quarter last year, the firm earned $0.80 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities analysts predict that Cognizant Technology Solutions Corporation will post $3.67 earnings per share for the current year.
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A number of analysts have issued reports on CTSH shares. SunTrust Banks, Inc. raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Thursday, April 13th. Morgan Stanley raised their target price on Cognizant Technology Solutions Corporation from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, May 8th. Needham & Company LLC raised their target price on Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Vetr raised Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and set a $67.50 target price for the company in a research note on Friday, April 14th. Finally, Robert W. Baird raised their target price on Cognizant Technology Solutions Corporation from $70.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, May 8th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $65.41.
In other news, insider Ramakrishna Prasa Chintamaneni sold 5,051 shares of the stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $68.00, for a total value of $343,468.00. Following the completion of the sale, the insider now owns 20,047 shares in the company, valued at $1,363,196. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Venkat Krishnaswamy sold 6,438 shares of the stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $64.15, for a total value of $412,997.70. Following the completion of the sale, the insider now owns 22,363 shares of the company’s stock, valued at approximately $1,434,586.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,256 shares of company stock valued at $3,750,694. Insiders own 1.08% of the company’s stock.
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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