Gateway Investment Advisers LLC Sells 7,605 Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Gateway Investment Advisers LLC reduced its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 401,899 shares of the information technology service provider’s stock after selling 7,605 shares during the period. Gateway Investment Advisers LLC owned 0.07% of Cognizant Technology Solutions Corporation worth $26,686,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Cognizant Technology Solutions Corporation by 0.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 122,495 shares of the information technology service provider’s stock worth $6,863,000 after buying an additional 615 shares during the last quarter. RMB Capital Management LLC raised its stake in shares of Cognizant Technology Solutions Corporation by 17.7% in the fourth quarter. RMB Capital Management LLC now owns 423,805 shares of the information technology service provider’s stock worth $23,746,000 after buying an additional 63,764 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Cognizant Technology Solutions Corporation during the fourth quarter worth approximately $18,210,000. HighPoint Advisor Group LLC acquired a new stake in shares of Cognizant Technology Solutions Corporation during the fourth quarter worth approximately $669,000. Finally, M Holdings Securities Inc. raised its stake in shares of Cognizant Technology Solutions Corporation by 62.3% in the fourth quarter. M Holdings Securities Inc. now owns 16,825 shares of the information technology service provider’s stock valued at $943,000 after buying an additional 6,458 shares in the last quarter. Institutional investors and hedge funds own 88.68% of the company’s stock.

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

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, topping 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 firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter last year, the company earned $0.87 EPS. The company’s revenue was up 8.9% on a year-over-year basis. On average, analysts expect that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

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

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Several brokerages have recently issued reports on CTSH. Zacks Investment Research lowered Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Needham & Company LLC reiterated a “buy” rating and set a $78.00 price target (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, August 9th. Berenberg Bank upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and lifted their price target for the company from $65.00 to $85.00 in a report on Tuesday, August 8th. BMO Capital Markets reiterated a “buy” rating and set a $76.00 price target (up from $69.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, August 4th. Finally, Credit Suisse Group set a $80.00 price objective on Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research note on Friday, August 4th. They noted that the move was a valuation call. 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 issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $70.02.

In other Cognizant Technology Solutions Corporation news, insider Venkat Krishnaswamy sold 4,205 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $66.75, for a total transaction of $280,683.75. Following the transaction, the insider now owns 13,540 shares in the company, valued at approximately $903,795. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John E. Klein sold 11,560 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $71.86, for a total value of $830,701.60. Following the transaction, the director now owns 482,880 shares in the company, valued at approximately $34,699,756.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,222 shares of company stock worth $6,326,183. Corporate insiders own 1.08% of the company’s stock.

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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