UBS Asset Management Americas Inc. cut its position in shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 68.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,574,651 shares of the information technology service provider’s stock after selling 3,451,305 shares during the period. UBS Asset Management Americas Inc.’s holdings in Cognizant Technology Solutions Corp. were worth $75,127,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Girard Partners LTD. raised its position in shares of Cognizant Technology Solutions Corp. by 1.2% in the third quarter. Girard Partners LTD. now owns 13,234 shares of the information technology service provider’s stock worth $631,000 after buying an additional 160 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Cognizant Technology Solutions Corp. by 5.6% in the third quarter. Daiwa Securities Group Inc. now owns 79,490 shares of the information technology service provider’s stock worth $3,793,000 after buying an additional 4,190 shares during the last quarter. Telos Capital Management Inc. increased its stake in Cognizant Technology Solutions Corp. by 7.3% in the third quarter. Telos Capital Management Inc. now owns 42,958 shares of the information technology service provider’s stock worth $2,050,000 after buying an additional 2,930 shares during the last quarter. Nichols & Pratt Advisers LLP MA increased its stake in Cognizant Technology Solutions Corp. by 13.6% in the third quarter. Nichols & Pratt Advisers LLP MA now owns 11,640 shares of the information technology service provider’s stock worth $555,000 after buying an additional 1,390 shares during the last quarter. Finally, CIBC World Markets Inc. increased its stake in Cognizant Technology Solutions Corp. by 16.4% in the third quarter. CIBC World Markets Inc. now owns 42,992 shares of the information technology service provider’s stock worth $2,051,000 after buying an additional 6,057 shares during the last quarter. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

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

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 55.63 on Wednesday. The company’s 50 day moving average is $52.33 and its 200-day moving average is $56.43. The firm has a market cap of $33.75 billion, a price-to-earnings ratio of 21.73 and a beta of 1.34. Cognizant Technology Solutions Corp. has a 1-year low of $45.44 and a 1-year high of $65.25.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last released its quarterly earnings results on Monday, November 7th. The information technology service provider reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.02. The firm had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.46 billion. Cognizant Technology Solutions Corp. had a net margin of 11.78% and a return on equity of 19.42%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 earnings per share. On average, analysts predict that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current fiscal year.

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A number of analysts have recently commented on CTSH shares. Nomura downgraded Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $65.00 to $62.00 in a report on Monday, August 8th. Cantor Fitzgerald restated a “buy” rating and set a $68.00 price objective on shares of Cognizant Technology Solutions Corp. in a report on Monday, October 3rd. Wedbush started coverage on Cognizant Technology Solutions Corp. in a report on Thursday, September 8th. They set a “neutral” rating and a $65.00 price objective for the company. Needham & Company LLC lowered their price target on Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a “buy” rating for the company in a report on Monday, August 8th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Cognizant Technology Solutions Corp. in a report on Tuesday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $64.93.

In other news, VP Malcolm Frank sold 1,248 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $58.50, for a total transaction of $73,008.00. Following the transaction, the vice president now directly owns 3,945 shares in the company, valued at $230,782.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Karen Mcloughlin sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $51.27, for a total transaction of $512,700.00. Following the transaction, the chief financial officer now owns 52,614 shares in the company, valued at $2,697,519.78. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.

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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