Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. decreased its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 7.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 128,090 shares of the information technology service provider’s stock after selling 10,089 shares during the period. Hartford Investment Management Co.’s holdings in Cognizant Technology Solutions Corporation were worth $8,505,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CTSH. Cornerstone Advisors Inc. increased its position in shares of Cognizant Technology Solutions Corporation by 0.3% in the second quarter. Cornerstone Advisors Inc. now owns 3,633 shares of the information technology service provider’s stock worth $241,000 after buying an additional 11 shares during the last quarter. Guardian Life Insurance Co. of America increased its position in shares of 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 worth $140,000 after buying an additional 27 shares during the last quarter. CENTRAL TRUST Co increased its position in shares of Cognizant Technology Solutions Corporation by 0.5% in the second quarter. CENTRAL TRUST Co now owns 6,403 shares of the information technology service provider’s stock worth $425,000 after buying an additional 35 shares during the last quarter. Boltwood Capital Management increased its position in shares of Cognizant Technology Solutions Corporation by 0.4% in the second quarter. Boltwood Capital Management now owns 15,910 shares of the information technology service provider’s stock worth $1,056,000 after buying an additional 60 shares during the last quarter. Finally, Watch Point Trust Co increased its position in shares of Cognizant Technology Solutions Corporation by 0.3% in the second quarter. Watch Point Trust Co now owns 39,446 shares of the information technology service provider’s stock worth $2,620,000 after buying an additional 105 shares during the last quarter. 88.68% of the stock is currently owned by institutional investors.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded down 0.24% during midday trading on Friday, reaching $70.07. 2,636,572 shares of the company traded hands. The firm has a market capitalization of $41.38 billion, a P/E ratio of 22.48 and a beta of 1.17. The company has a 50 day moving average of $69.29 and a 200 day moving average of $63.21. Cognizant Technology Solutions Corporation has a 12 month low of $45.44 and a 12 month high of $72.07.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter last year, the firm posted $0.87 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts predict that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is currently 19.17%.

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Several equities analysts recently issued reports on the company. Morgan Stanley upped their target price on Cognizant Technology Solutions Corporation from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, May 8th. Credit Suisse Group set a $80.00 target price on Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Pacific Crest reaffirmed an “overweight” rating and issued a $75.00 price target (up from $73.00) on shares of Cognizant Technology Solutions Corporation in a report on Thursday, June 1st. BidaskClub lowered shares of Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $67.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Friday, May 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cognizant Technology Solutions Corporation presently has an average rating of “Buy” and an average target price of $70.02.

In other Cognizant Technology Solutions Corporation news, Director John E. Klein sold 11,560 shares of Cognizant Technology Solutions Corporation stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $71.86, for a total transaction of $830,701.60. Following the sale, the director now owns 482,880 shares in the company, valued at $34,699,756.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gajakarnan Vibushanan Kandiah sold 1,500 shares of Cognizant Technology Solutions Corporation stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $66.00, for a total transaction of $99,000.00. Following the sale, the insider now owns 10,515 shares in the company, valued at approximately $693,990. The disclosure for this sale can be found here. Insiders have sold 91,222 shares of company stock worth $6,326,183 in the last ninety days. 1.08% of the stock is currently owned by insiders.

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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