Moody Lynn & Lieberson LLC Acquires 1,734 Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Moody Lynn & Lieberson LLC boosted its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 45.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,534 shares of the information technology service provider’s stock after buying an additional 1,734 shares during the period. Moody Lynn & Lieberson LLC’s holdings in Cognizant Technology Solutions Corporation were worth $367,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Cognizant Technology Solutions Corporation by 3,470.1% in the first quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock valued at $2,425,316,000 after buying an additional 39,606,526 shares in the last quarter. Comgest Global Investors S.A.S. bought a new stake in shares of Cognizant Technology Solutions Corporation during the first quarter valued at about $224,748,000. Thrivent Financial For Lutherans increased its stake in shares of Cognizant Technology Solutions Corporation by 11,666.2% in the first quarter. Thrivent Financial For Lutherans now owns 2,468,550 shares of the information technology service provider’s stock valued at $146,928,000 after buying an additional 2,447,570 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Cognizant Technology Solutions Corporation by 112.5% in the first quarter. Alliancebernstein L.P. now owns 4,487,749 shares of the information technology service provider’s stock valued at $267,111,000 after buying an additional 2,375,626 shares in the last quarter. Finally, SRS Investment Management LLC acquired a new stake in shares of Cognizant Technology Solutions Corporation during the first quarter valued at $134,797,000. Institutional investors and hedge funds own 88.68% of the company’s stock.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 70.07 on Friday. The company’s 50 day moving average is $69.29 and its 200-day moving average is $63.21. The firm has a market cap of $41.38 billion, a price-to-earnings ratio of 22.48 and a beta of 1.17. Cognizant Technology Solutions Corporation has a 1-year low of $45.44 and a 1-year high of $72.07.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the business earned $0.87 earnings per share. Cognizant Technology Solutions Corporation’s quarterly revenue was up 8.9% on a year-over-year basis. On average, analysts predict that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current fiscal year.

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

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Several analysts have recently weighed in on CTSH shares. Needham & Company LLC raised their target price on Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Zacks Investment Research downgraded Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Vetr downgraded Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating and set a $67.50 target price for the company. in a research note on Monday, May 1st. Deutsche Bank AG restated a “buy” rating and set a $79.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, May 31st. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $67.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Monday, May 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Cognizant Technology Solutions Corporation currently has an average rating of “Buy” and a consensus target price of $70.02.

In related news, insider Venkat Krishnaswamy sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $67.75, for a total transaction of $271,000.00. Following the completion of the sale, the insider now directly owns 13,188 shares of the company’s stock, valued at $893,487. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gajakarnan Vibushanan Kandiah sold 1,500 shares of the business’s stock in a transaction that occurred 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 directly owns 10,515 shares of the company’s stock, valued at $693,990. The disclosure for this sale can be found here. Insiders have sold 91,222 shares of company stock worth $6,326,183 over the last quarter. 1.08% of the stock is owned by company insiders.

Cognizant Technology Solutions Corporation Company Profile

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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