Cognizant Technology Solutions Corp (NASDAQ:CTSH) Position Reduced by Beese Fulmer Investment Management Inc.

Beese Fulmer Investment Management Inc. trimmed its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 5.1% during the second quarter, HoldingsChannel reports. The fund owned 79,083 shares of the information technology service provider’s stock after selling 4,287 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Cognizant Technology Solutions were worth $5,013,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CTSH. BlackRock Inc. lifted its position in shares of Cognizant Technology Solutions by 4.7% in the 1st quarter. BlackRock Inc. now owns 47,153,467 shares of the information technology service provider’s stock worth $3,416,269,000 after buying an additional 2,129,464 shares during the last quarter. FMR LLC lifted its position in shares of Cognizant Technology Solutions by 21.9% in the 1st quarter. FMR LLC now owns 15,767,608 shares of the information technology service provider’s stock worth $1,142,362,000 after buying an additional 2,827,833 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Cognizant Technology Solutions by 14.9% in the 4th quarter. Nordea Investment Management AB now owns 10,187,078 shares of the information technology service provider’s stock worth $646,676,000 after buying an additional 1,324,213 shares during the last quarter. Northern Trust Corp lifted its position in shares of Cognizant Technology Solutions by 3.4% in the 1st quarter. Northern Trust Corp now owns 7,655,802 shares of the information technology service provider’s stock worth $554,663,000 after buying an additional 252,685 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its position in shares of Cognizant Technology Solutions by 0.4% in the 1st quarter. Pzena Investment Management LLC now owns 7,636,219 shares of the information technology service provider’s stock worth $553,244,000 after buying an additional 29,090 shares during the last quarter. Hedge funds and other institutional investors own 89.33% of the company’s stock.

A number of research firms have recently issued reports on CTSH. William Blair restated an “outperform” rating on shares of Activision Blizzard in a research report on Friday, May 3rd. Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Wells Fargo & Co set a $90.00 price target on shares of Citigroup and gave the stock a “buy” rating in a research report on Friday, May 3rd. Oppenheimer assumed coverage on shares of Allogene Therapeutics in a research report on Friday, May 3rd. They issued an “outperform” rating and a $45.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Masonite International from $66.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $74.57.

Cognizant Technology Solutions stock traded up $0.32 during trading hours on Tuesday, hitting $65.87. 3,349,374 shares of the company traded hands, compared to its average volume of 4,684,071. The company has a market cap of $37.08 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 1.65 and a beta of 1.01. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average price is $63.91. Cognizant Technology Solutions Corp has a 1-year low of $56.73 and a 1-year high of $83.30.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.12). The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.16 billion. Cognizant Technology Solutions had a net margin of 12.39% and a return on equity of 21.50%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 EPS. Analysts anticipate that Cognizant Technology Solutions Corp will post 3.91 EPS for the current year.

In other news, SVP Robert Telesmanic sold 2,484 shares of Cognizant Technology Solutions stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $65.00, for a total value of $161,460.00. Following the transaction, the senior vice president now owns 7,337 shares of the company’s stock, valued at approximately $476,905. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allen Shaheen sold 1,369 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $60.16, for a total transaction of $82,359.04. Following the completion of the transaction, the executive vice president now directly owns 3,073 shares in the company, valued at approximately $184,871.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,120 shares of company stock worth $2,960,866. 0.56% of the stock is owned by corporate insiders.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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

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