Watch Point Trust Co grew its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 18.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,213 shares of the information technology service provider’s stock after purchasing an additional 8,473 shares during the period. Cognizant Technology Solutions comprises about 2.0% of Watch Point Trust Co’s portfolio, making the stock its 27th biggest position. Watch Point Trust Co’s holdings in Cognizant Technology Solutions were worth $3,500,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CTSH. FMR LLC grew its position in shares of Cognizant Technology Solutions by 21.9% during the first quarter. FMR LLC now owns 15,767,608 shares of the information technology service provider’s stock worth $1,142,362,000 after buying an additional 2,827,833 shares in the last quarter. BlackRock Inc. grew its position in shares of Cognizant Technology Solutions by 4.7% during the first quarter. BlackRock Inc. now owns 47,153,467 shares of the information technology service provider’s stock worth $3,416,269,000 after buying an additional 2,129,464 shares in the last quarter. Investec Asset Management LTD acquired a new position in shares of Cognizant Technology Solutions during the first quarter worth about $91,531,000. FIL Ltd grew its position in shares of Cognizant Technology Solutions by 20.7% during the first quarter. FIL Ltd now owns 6,537,319 shares of the information technology service provider’s stock worth $473,628,000 after buying an additional 1,122,420 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of Cognizant Technology Solutions by 60.2% during the second quarter. First Trust Advisors LP now owns 2,486,713 shares of the information technology service provider’s stock worth $157,633,000 after buying an additional 934,584 shares in the last quarter. Institutional investors own 88.41% of the company’s stock.

In related news, CEO Brian Humphries purchased 19,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was acquired at an average price of $61.09 per share, for a total transaction of $1,160,710.00. Following the completion of the purchase, the chief executive officer now directly owns 19,000 shares of the company’s stock, valued at $1,160,710. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Robert Telesmanic sold 3,343 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $60.00, for a total value of $200,580.00. Following the sale, the senior vice president now owns 7,337 shares of the company’s stock, valued at approximately $440,220. The disclosure for this sale can be found here. Insiders have sold 47,120 shares of company stock valued at $2,960,866 in the last 90 days. Company insiders own 0.56% of the company’s stock.

Shares of CTSH stock traded up $0.33 during trading hours on Thursday, hitting $60.98. The stock had a trading volume of 78,200 shares, compared to its average volume of 3,491,923. The company has a market capitalization of $33.78 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 1.53 and a beta of 1.01. Cognizant Technology Solutions Corp has a twelve month low of $56.73 and a twelve month high of $78.59. The stock has a 50 day moving average price of $64.35. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 2.55.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The business had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.13 billion. Cognizant Technology Solutions had a return on equity of 20.52% and a net margin of 12.61%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 earnings per share. On average, research analysts expect that Cognizant Technology Solutions Corp will post 3.96 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 22nd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Wednesday, August 21st. Cognizant Technology Solutions’s payout ratio is currently 19.90%.

CTSH has been the subject of a number of analyst reports. ValuEngine raised Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. CIBC reaffirmed a “market perform” rating on shares of Cognizant Technology Solutions in a report on Friday, May 3rd. Argus downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Wells Fargo & Co set a $63.00 price target on Cognizant Technology Solutions and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, UBS Group downgraded Cognizant Technology Solutions from a “neutral” rating to a “sell” rating and lowered their price target for the company from $62.00 to $60.00 in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $74.48.

Cognizant Technology Solutions Company Profile

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 analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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

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