Prudential Financial Inc. raised its stake in Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 4.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,791,357 shares of the information technology service provider’s stock after buying an additional 116,574 shares during the period. Prudential Financial Inc.’s holdings in Cognizant Technology Solutions Corp. were worth $133,176,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTSH. Schroder Investment Management Group increased its stake in shares of Cognizant Technology Solutions Corp. by 15.6% in the second quarter. Schroder Investment Management Group now owns 4,193,480 shares of the information technology service provider’s stock valued at $240,034,000 after buying an additional 564,958 shares in the last quarter. Saratoga Research & Investment Management raised its position in Cognizant Technology Solutions Corp. by 10.8% in the second quarter. Saratoga Research & Investment Management now owns 455,167 shares of the information technology service provider’s stock valued at $26,054,000 after buying an additional 44,205 shares during the last quarter. Provident Trust Co. raised its position in Cognizant Technology Solutions Corp. by 2.1% in the second quarter. Provident Trust Co. now owns 4,087,880 shares of the information technology service provider’s stock valued at $233,990,000 after buying an additional 82,520 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Cognizant Technology Solutions Corp. by 314.6% in the third quarter. BNP Paribas Arbitrage SA now owns 523,833 shares of the information technology service provider’s stock valued at $24,992,000 after buying an additional 397,480 shares during the last quarter. Finally, Alta Capital Management LLC raised its position in Cognizant Technology Solutions Corp. by 5.4% in the third quarter. Alta Capital Management LLC now owns 837,271 shares of the information technology service provider’s stock valued at $39,946,000 after buying an additional 42,975 shares during the last quarter. Hedge funds and other institutional investors own 84.02% of the company’s stock.

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

Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 55.08 on Thursday. The company has a market cap of $33.42 billion, a PE ratio of 21.52 and a beta of 1.34. Cognizant Technology Solutions Corp. has a 12-month low of $45.44 and a 12-month high of $65.25. The company has a 50-day moving average of $52.33 and a 200 day moving average of $56.43.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last issued its quarterly earnings data on Monday, November 7th. The information technology service provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The business had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.46 billion. Cognizant Technology Solutions Corp. had a return on equity of 19.42% and a net margin of 11.78%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 EPS. On average, equities research analysts expect that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current year.

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Several equities analysts recently weighed in on CTSH shares. Nomura lowered shares of Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and reduced their price target for the company from $65.00 to $62.00 in a research report on Monday, August 8th. Cantor Fitzgerald restated a “buy” rating and set a $68.00 price target on shares of Cognizant Technology Solutions Corp. in a research report on Monday, October 3rd. Wedbush started coverage on shares of Cognizant Technology Solutions Corp. in a research report on Thursday, September 8th. They set a “neutral” rating and a $65.00 price target for the company. Needham & Company LLC reduced their price target on shares of Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, August 8th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Cognizant Technology Solutions Corp. in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $65.32.

In related news, CFO Karen Mcloughlin sold 1,873 shares of the stock in a transaction on Monday, November 28th. The stock was sold at an average price of $58.16, for a total transaction of $108,933.68. Following the sale, the chief financial officer now owns 40,741 shares in the company, valued at approximately $2,369,496.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Malcolm Frank sold 1,248 shares of the stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $58.50, for a total value of $73,008.00. Following the sale, the vice president now owns 3,945 shares in the company, valued at approximately $230,782.50. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

Cognizant Technology Solutions Corp. Company Profile

Cognizant Technology Solutions Corporation is a provider of information technology (IT), consulting and business process services. The Company operates through four segments: Financial Services, which includes customers providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers, as well as life sciences customers, including pharmaceutical, biotech and medical device companies; Manufacturing, Retail and Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as customers providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology.

5 Day Chart for NASDAQ:CTSH

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