ETRADE Capital Management LLC Sells 3,221 Shares of Cognizant Technology Solutions Corporation (CTSH)

ETRADE Capital Management LLC reduced its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 6.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,810 shares of the information technology service provider’s stock after selling 3,221 shares during the period. ETRADE Capital Management LLC’s holdings in Cognizant Technology Solutions Corporation were worth $2,909,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Acrospire Investment Management LLC boosted its position in Cognizant Technology Solutions Corporation by 92.6% in the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after buying an additional 800 shares in the last quarter. Guardian Life Insurance Co. of America boosted its position in 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. 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 valued at $154,000 after buying an additional 505 shares in the last quarter. Manchester Capital Management LLC boosted its position in Cognizant Technology Solutions Corporation by 15.7% in the second quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock valued at $181,000 after buying an additional 370 shares in the last quarter. Finally, 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 valued at $192,000 after buying an additional 2,318 shares in the last quarter. Institutional investors and hedge funds own 87.59% of the company’s stock.

In other Cognizant Technology Solutions Corporation news, President Rajeev Mehta sold 34,437 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $72.54, for a total transaction of $2,498,059.98. Following the completion of the transaction, the president now owns 170,063 shares in the company, valued at approximately $12,336,370.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gajakarnan Vibushanan Kandiah sold 4,999 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $69.50, for a total transaction of $347,430.50. Following the transaction, the insider now owns 10,515 shares of the company’s stock, valued at approximately $730,792.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 275,756 shares of company stock valued at $19,685,771. Company insiders own 1.08% of the company’s stock.

A number of research firms have commented on CTSH. Needham & Company LLC restated a “buy” rating and issued a $78.00 price target (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, August 9th. Berenberg Bank upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and boosted their price target for the company from $65.00 to $85.00 in a research report on Tuesday, August 8th. Wedbush restated an “outperform” rating on shares of Cognizant Technology Solutions Corporation in a research report on Monday. Zacks Investment Research upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Tuesday, August 8th. Finally, BMO Capital Markets restated a “buy” rating and issued a $76.00 price target (up from $69.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, August 4th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Cognizant Technology Solutions Corporation currently has a consensus rating of “Buy” and a consensus target price of $72.51.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded down 0.47% during midday trading on Thursday, hitting $72.12. 503,975 shares of the company were exchanged. The firm’s 50-day moving average price is $70.75 and its 200-day moving average price is $65.41. The stock has a market capitalization of $42.60 billion, a PE ratio of 23.14 and a beta of 1.14. Cognizant Technology Solutions Corporation has a one year low of $45.44 and a one year high of $73.00.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business earned $0.87 EPS. Equities research analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd were issued a dividend of $0.15 per share. The ex-dividend date was Friday, August 18th. This represents a $0.60 annualized dividend and a yield of 0.83%. Cognizant Technology Solutions Corporation’s payout ratio is 19.17%.

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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.

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

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