American Century Companies Inc. decreased its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 18.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,302,539 shares of the information technology service provider’s stock after selling 290,128 shares during the period. American Century Companies Inc. owned 0.22% of Cognizant Technology Solutions Corporation worth $86,489,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Guardian Life Insurance Co. of America boosted its position in shares of 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 buying an additional 27 shares in the last quarter. Assetmark Inc. boosted its position in Cognizant Technology Solutions Corporation by 24.2% in the first quarter. Assetmark Inc. now owns 2,592 shares of the information technology service provider’s stock worth $154,000 after buying an additional 505 shares during the period. IFP Advisors Inc boosted its position in Cognizant Technology Solutions Corporation by 40.8% in the first quarter. IFP Advisors Inc now owns 2,696 shares of the information technology service provider’s stock worth $160,000 after buying an additional 781 shares during the period. Acadian Asset Management LLC boosted its position in Cognizant Technology Solutions Corporation by 253.9% in the first quarter. Acadian Asset Management LLC now owns 3,231 shares of the information technology service provider’s stock worth $192,000 after buying an additional 2,318 shares during the period. Finally, Advisory Services Network LLC purchased a new position in Cognizant Technology Solutions Corporation during the first quarter worth about $192,000. Hedge funds and other institutional investors own 87.63% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (CTSH) opened at 69.78 on Monday. The company has a market capitalization of $41.21 billion, a PE ratio of 22.39 and a beta of 1.17. The company has a 50-day moving average of $69.67 and a 200 day moving average of $63.83. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $72.07.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $3.65 billion. During the same period in the prior year, the firm posted $0.87 EPS. Cognizant Technology Solutions Corporation’s revenue for the quarter was up 8.9% on a year-over-year basis. Analysts predict that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is 19.17%.

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A number of research analysts have recently issued reports on the stock. Credit Suisse Group set a $70.00 target price on shares of Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research note on Saturday, May 6th. Needham & Company LLC reiterated a “buy” rating and issued a $78.00 target price (up previously from $72.00) on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, August 9th. Berenberg Bank upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and lifted their target price for the company from $65.00 to $85.00 in a research note on Tuesday, August 8th. Zacks Investment Research upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Tuesday, August 8th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $76.00 target price (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $70.02.

In related news, insider Sean Middleton sold 1,460 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $67.39, for a total transaction of $98,389.40. Following the sale, the insider now directly owns 2,308 shares of the company’s stock, valued at approximately $155,536.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allen Shaheen sold 442 shares of the stock in a transaction dated 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 have sold a total of 93,479 shares of company stock worth $6,519,763 over the last three months. 1.08% of the stock is currently owned by 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.

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

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