Cognizant Technology Solutions Corporation (CTSH) Shares Bought by Archford Capital Strategies LLC

Archford Capital Strategies LLC lifted its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 20,811.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,960 shares of the information technology service provider’s stock after purchasing an additional 44,745 shares during the quarter. Cognizant Technology Solutions Corporation comprises 0.8% of Archford Capital Strategies LLC’s investment portfolio, making the stock its 26th biggest holding. Archford Capital Strategies LLC’s holdings in Cognizant Technology Solutions Corporation were worth $1,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC raised its holdings in shares of Cognizant Technology Solutions Corporation by 92.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after acquiring an additional 800 shares during the last quarter. Krilogy Financial LLC acquired a new stake in shares of Cognizant Technology Solutions Corporation in the 2nd quarter worth about $137,000. Guardian Life Insurance Co. of America raised its holdings in shares of Cognizant Technology Solutions Corporation by 1.2% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock worth $140,000 after acquiring an additional 27 shares during the last quarter. Manchester Capital Management LLC raised its holdings in shares of Cognizant Technology Solutions Corporation by 15.7% in the 2nd quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock worth $181,000 after acquiring an additional 370 shares during the last quarter. Finally, First National Trust Co. acquired a new stake in shares of Cognizant Technology Solutions Corporation in the 2nd quarter worth about $207,000. 87.60% of the stock is currently owned by institutional investors.

A number of research firms recently weighed in on CTSH. KeyCorp restated a “buy” rating and issued a $79.00 target price on shares of Cognizant Technology Solutions Corporation in a report on Friday, September 8th. Bank of America Corporation restated a “buy” rating and issued a $86.00 target price on shares of Cognizant Technology Solutions Corporation in a report on Tuesday, September 12th. Credit Suisse Group set a $80.00 target price on shares of Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a report on Friday, August 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Tuesday, October 10th. Finally, Wedbush restated an “outperform” rating on shares of Cognizant Technology Solutions Corporation in a report on Monday, September 18th. Four analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Cognizant Technology Solutions Corporation has a consensus rating of “Buy” and an average target price of $73.66.

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In related news, insider Debashis Chatterjee sold 2,190 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $74.00, for a total transaction of $162,060.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Rajeev Mehta sold 32,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $71.02, for a total value of $2,272,640.00. Following the transaction, the president now owns 187,965 shares of the company’s stock, valued at approximately $13,349,274.30. The disclosure for this sale can be found here. Insiders have sold a total of 289,546 shares of company stock valued at $20,683,257 in the last 90 days. Insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corporation (CTSH) traded up 0.39% on Friday, reaching $74.38. 1,466,970 shares of the company traded hands. The stock has a market capitalization of $43.93 billion, a price-to-earnings ratio of 23.86 and a beta of 1.12. The stock’s 50-day moving average is $72.09 and its 200-day moving average is $67.19. Cognizant Technology Solutions Corporation has a 1-year low of $49.35 and a 1-year high of $74.77.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the previous year, the business earned $0.87 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. Equities research analysts expect that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current year.

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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