Profund Advisors LLC Buys 7,466 Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Profund Advisors LLC raised its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 18.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,532 shares of the information technology service provider’s stock after purchasing an additional 7,466 shares during the period. Profund Advisors LLC’s holdings in Cognizant Technology Solutions were worth $3,076,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CTSH. National Asset Management Inc. lifted its holdings in shares of Cognizant Technology Solutions by 2.7% during the 1st quarter. National Asset Management Inc. now owns 6,787 shares of the information technology service provider’s stock worth $492,000 after acquiring an additional 181 shares during the period. Citizens Financial Group Inc RI lifted its holdings in shares of Cognizant Technology Solutions by 35.3% during the 2nd quarter. Citizens Financial Group Inc RI now owns 716 shares of the information technology service provider’s stock worth $46,000 after acquiring an additional 187 shares during the period. NEXT Financial Group Inc lifted its holdings in shares of Cognizant Technology Solutions by 18.9% during the 2nd quarter. NEXT Financial Group Inc now owns 1,184 shares of the information technology service provider’s stock worth $75,000 after acquiring an additional 188 shares during the period. Anchor Capital Advisors LLC increased its position in shares of Cognizant Technology Solutions by 1.6% during the 2nd quarter. Anchor Capital Advisors LLC now owns 12,215 shares of the information technology service provider’s stock worth $774,000 after purchasing an additional 190 shares in the last quarter. Finally, Bank Hapoalim BM increased its position in shares of Cognizant Technology Solutions by 5.4% during the 2nd quarter. Bank Hapoalim BM now owns 3,715 shares of the information technology service provider’s stock worth $235,000 after purchasing an additional 190 shares in the last quarter. 91.52% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Allen Shaheen sold 1,091 shares of Cognizant Technology Solutions stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $62.14, for a total transaction of $67,794.74. Following the completion of the sale, the executive vice president now owns 2,010 shares in the company, valued at approximately $124,901.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Malcolm Frank sold 7,469 shares of Cognizant Technology Solutions stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $64.05, for a total transaction of $478,389.45. Following the sale, the insider now owns 30,951 shares of the company’s stock, valued at approximately $1,982,411.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,098 shares of company stock valued at $2,598,415. 0.56% of the stock is owned by corporate insiders.

A number of equities research analysts recently issued reports on CTSH shares. HSBC cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and dropped their target price for the stock from $72.00 to $70.00 in a research report on Tuesday, July 23rd. TheStreet upgraded shares of Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a research report on Tuesday, July 23rd. Zacks Investment Research cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $66.00 target price for the company. in a research report on Thursday, September 5th. Robert W. Baird set a $76.00 target price on shares of Cognizant Technology Solutions and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, ValuEngine upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $74.45.

CTSH traded down $0.16 during midday trading on Friday, hitting $64.68. The company had a trading volume of 120,988 shares, compared to its average volume of 2,632,492. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.55 and a current ratio of 2.55. The company has a market capitalization of $35.76 billion, a PE ratio of 16.10, a P/E/G ratio of 1.62 and a beta of 1.07. Cognizant Technology Solutions Corp has a twelve month low of $56.73 and a twelve month high of $77.87. The firm’s 50-day simple moving average is $62.74 and its 200-day simple moving average is $65.94.

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 consensus estimate of $0.93 by $0.01. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Cognizant Technology Solutions had a net margin of 12.61% and a return on equity of 20.52%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.05 EPS. As a group, sell-side analysts anticipate that Cognizant Technology Solutions Corp will post 3.96 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Wednesday, August 21st. Cognizant Technology Solutions’s dividend payout ratio is 19.90%.

About Cognizant Technology Solutions

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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