Guggenheim Capital LLC trimmed its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 12.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 222,827 shares of the information technology service provider’s stock after selling 31,224 shares during the quarter. Guggenheim Capital LLC’s holdings in Cognizant Technology Solutions were worth $10,354,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTSH. Victory Capital Management Inc. boosted its stake in Cognizant Technology Solutions by 18.7% in the fourth quarter. Victory Capital Management Inc. now owns 485,131 shares of the information technology service provider’s stock valued at $30,088,000 after acquiring an additional 76,289 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Cognizant Technology Solutions by 345.4% in the fourth quarter. Acadian Asset Management LLC now owns 12,234 shares of the information technology service provider’s stock valued at $759,000 after acquiring an additional 9,487 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in Cognizant Technology Solutions by 9.4% in the fourth quarter. Rafferty Asset Management LLC now owns 38,376 shares of the information technology service provider’s stock valued at $2,380,000 after acquiring an additional 3,313 shares during the last quarter. Meitav Dash Investments Ltd. lifted its stake in shares of Cognizant Technology Solutions by 12.5% during the 4th quarter. Meitav Dash Investments Ltd. now owns 6,300 shares of the information technology service provider’s stock valued at $391,000 after buying an additional 700 shares in the last quarter. Finally, LSV Asset Management purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at approximately $1,023,000. Hedge funds and other institutional investors own 90.44% of the company’s stock.

Shares of NASDAQ:CTSH traded down $0.58 during trading on Friday, reaching $55.01. The company had a trading volume of 29,751 shares, compared to its average volume of 3,345,960. The company has a fifty day moving average of $54.24 and a two-hundred day moving average of $57.53. The stock has a market capitalization of $29.08 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 1.44 and a beta of 1.15. Cognizant Technology Solutions Corp has a 12 month low of $40.01 and a 12 month high of $71.48. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.30.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Thursday, May 7th. The information technology service provider reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.03. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.22 billion. Cognizant Technology Solutions had a net margin of 10.46% and a return on equity of 20.90%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. As a group, equities research analysts predict that Cognizant Technology Solutions Corp will post 3.41 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Wednesday, May 20th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Tuesday, May 19th. Cognizant Technology Solutions’s payout ratio is 22.06%.

In related news, General Counsel Matthew W. Friedrich sold 459 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $54.62, for a total transaction of $25,070.58. Following the transaction, the general counsel now owns 1,072 shares of the company’s stock, valued at approximately $58,552.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Malcolm Frank sold 1,492 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $54.83, for a total transaction of $81,806.36. Following the transaction, the insider now directly owns 32,924 shares in the company, valued at approximately $1,805,222.92. The disclosure for this sale can be found here. Insiders sold a total of 5,794 shares of company stock worth $318,107 in the last three months. Insiders own 0.31% of the company’s stock.

A number of analysts recently commented on CTSH shares. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their price target for the company from $49.00 to $60.00 in a research note on Wednesday, June 10th. BidaskClub cut shares of Cognizant Technology Solutions from a “sell” rating to a “strong sell” rating in a research note on Tuesday. TheStreet cut shares of Cognizant Technology Solutions from a “b-” rating to a “c” rating in a research note on Thursday, March 19th. Robert W. Baird upped their price target on shares of Cognizant Technology Solutions from $50.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Finally, Nomura restated a “hold” rating and set a $68.00 price target on shares of Cognizant Technology Solutions in a research note on Sunday, May 10th. Seven analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. Cognizant Technology Solutions has a consensus rating of “Hold” and an average target price of $62.25.

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.

Featured Article: What are trading strategies for the 52-week high/low?

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.