Stoneridge Investment Partners LLC Sells 9,345 Shares of Cognizant Technology Solutions Corporation (CTSH)

Stoneridge Investment Partners LLC cut its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 10.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,790 shares of the information technology service provider’s stock after selling 9,345 shares during the period. Stoneridge Investment Partners LLC’s holdings in Cognizant Technology Solutions Corporation were worth $5,165,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CTSH. BLB&B Advisors LLC raised its position in Cognizant Technology Solutions Corporation by 11.1% in the first quarter. BLB&B Advisors LLC now owns 4,000 shares of the information technology service provider’s stock worth $238,000 after buying an additional 400 shares in the last quarter. Atria Investments LLC raised its position in Cognizant Technology Solutions Corporation by 22.7% in the first quarter. Atria Investments LLC now owns 26,812 shares of the information technology service provider’s stock worth $1,596,000 after buying an additional 4,965 shares in the last quarter. Private Trust Co. NA bought a new position in Cognizant Technology Solutions Corporation during the first quarter worth approximately $600,000. Farmers Trust Co. raised its position in Cognizant Technology Solutions Corporation by 0.6% in the first quarter. Farmers Trust Co. now owns 47,027 shares of the information technology service provider’s stock worth $2,799,000 after buying an additional 260 shares in the last quarter. Finally, First National Bank of Omaha raised its position in Cognizant Technology Solutions Corporation by 304.8% in the first quarter. First National Bank of Omaha now owns 78,419 shares of the information technology service provider’s stock worth $4,617,000 after buying an additional 59,049 shares in the last quarter. Institutional investors own 88.68% of the company’s stock.

Cognizant Technology Solutions Corporation (CTSH) traded down 0.24% during midday trading on Friday, reaching $70.07. 2,636,572 shares of the company’s stock were exchanged. 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 1-year low of $45.44 and a 1-year high of $72.07. The stock has a market cap of $41.38 billion, a P/E ratio of 22.48 and a beta of 1.17.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.87 earnings per share. Equities analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

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

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CTSH has been the topic of a number of research analyst reports. Vetr lowered shares of Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating and set a $67.50 price objective on the stock. in a research note on Monday, May 1st. Needham & Company LLC raised their price objective on shares of 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. Deutsche Bank AG reiterated a “buy” rating and set a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, May 31st. HSBC Holdings plc lowered shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and raised their price objective for the company from $65.00 to $68.00 in a research note on Thursday, June 8th. Finally, Pacific Crest reiterated an “overweight” rating and set a $75.00 price objective (up previously from $73.00) on shares of Cognizant Technology Solutions Corporation in a research note on Thursday, June 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $70.02.

In other news, EVP Allen Shaheen sold 442 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $70.58, for a total value of $31,196.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John E. Klein sold 11,560 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 482,880 shares of the company’s stock, valued at approximately $34,699,756.80. The disclosure for this sale can be found here. Insiders sold 91,222 shares of company stock valued at $6,326,183 in the last quarter. Corporate insiders own 1.08% of the company’s stock.

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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