Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Stake Held by Bp Plc

Bp Plc continued to hold its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 73,000 shares of the information technology service provider’s stock at the end of the second quarter. Bp Plc’s holdings in Cognizant Technology Solutions Corporation were worth $4,847,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Guardian Life Insurance Co. of America raised 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 valued at $140,000 after buying an additional 27 shares in the last quarter. Assetmark Inc. raised its position in shares of 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 valued at $154,000 after buying an additional 505 shares in the last quarter. IFP Advisors Inc raised its position in shares of 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 valued at $160,000 after buying an additional 781 shares in the last quarter. Lakeview Capital Partners LLC purchased a new position in shares of Cognizant Technology Solutions Corporation during the second quarter worth $210,000. Finally, Advisory Services Network LLC purchased a new position in shares of Cognizant Technology Solutions Corporation during the first quarter worth $192,000. 89.21% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 70.28 on Wednesday. Cognizant Technology Solutions Corporation has a 12 month low of $45.44 and a 12 month high of $71.57. The firm’s 50-day moving average price is $68.24 and its 200-day moving average price is $62.18. The stock has a market cap of $41.39 billion, a P/E ratio of 25.57 and a beta of 1.17.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the previous year, the firm posted $0.87 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. On average, analysts predict that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders 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 0.85%. The ex-dividend date is Friday, August 18th. Cognizant Technology Solutions Corporation’s payout ratio is 19.17%.

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A number of research analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and issued a $78.00 price objective (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a report on Wednesday. BMO Capital Markets reissued a “buy” rating on shares of Cognizant Technology Solutions Corporation in a report on Friday, August 4th. Credit Suisse Group set a $80.00 price objective on Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a report on Friday, August 4th. They noted that the move was a valuation call. Loop Capital raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and increased their price objective for the company from $63.00 to $83.00 in a report on Friday, August 4th. Finally, Cowen and Company reissued a “buy” rating and issued a $75.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $69.35.

In related news, COO Srinivasan Veeraraghavachary sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $71.00, for a total value of $177,500.00. Following the sale, the chief operating officer now owns 27,165 shares in the company, valued at approximately $1,928,715. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sean Middleton sold 1,890 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $65.00, for a total value of $122,850.00. Following the completion of the sale, the insider now owns 2,108 shares in the company, valued at approximately $137,020. The disclosure for this sale can be found here. Insiders have sold a total of 47,845 shares of company stock worth $3,237,117 in the last quarter. 1.08% of the stock is currently owned by insiders.

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

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