Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Stake Raised by National Pension Service

National Pension Service increased its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 13.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 546,486 shares of the information technology service provider’s stock after buying an additional 66,318 shares during the period. National Pension Service owned approximately 0.09% of Cognizant Technology Solutions Corporation worth $36,145,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. 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. Vanguard Group Inc. increased its stake in shares of Cognizant Technology Solutions Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 40,545,109 shares of the information technology service provider’s stock valued at $2,413,246,000 after buying an additional 1,379,271 shares in the last quarter. State Street Corp increased its stake in shares of Cognizant Technology Solutions Corporation by 1.8% in the first quarter. State Street Corp now owns 24,267,262 shares of the information technology service provider’s stock valued at $1,444,391,000 after buying an additional 435,142 shares in the last quarter. Edgewood Management LLC increased its stake in shares of Cognizant Technology Solutions Corporation by 3.9% in the first quarter. Edgewood Management LLC now owns 14,706,635 shares of the information technology service provider’s stock valued at $875,339,000 after buying an additional 557,035 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Cognizant Technology Solutions Corporation by 2.3% in the first quarter. FMR LLC now owns 13,803,392 shares of the information technology service provider’s stock valued at $821,576,000 after buying an additional 314,137 shares in the last quarter. Institutional investors and hedge funds own 89.10% of the company’s stock.

Cognizant Technology Solutions Corporation (CTSH) traded up 1.76% during midday trading on Friday, hitting $71.18. The stock had a trading volume of 4,555,435 shares. The stock has a market cap of $41.92 billion, a P/E ratio of 25.89 and a beta of 1.17. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $71.57. The company’s 50-day moving average price is $67.94 and its 200 day moving average price is $62.02.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The business’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 $3.68 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd will be given a $0.15 dividend. The ex-dividend date is Friday, August 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. Cognizant Technology Solutions Corporation’s dividend payout ratio is currently 19.17%.

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Several analysts have recently issued reports on CTSH shares. Needham & Company LLC upped their price objective on Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Vetr downgraded 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 report on Monday, May 1st. Deutsche Bank AG restated a “buy” rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, May 31st. Cantor Fitzgerald restated a “buy” rating and issued a $67.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Monday, May 15th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $80.00 price objective (up from $66.00) on shares of Cognizant Technology Solutions Corporation in a research report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Cognizant Technology Solutions Corporation has a consensus rating of “Buy” and a consensus target price of $66.50.

In other Cognizant Technology Solutions Corporation news, EVP Allen Shaheen sold 4,186 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $67.56, for a total value of $282,806.16. Following the completion of the sale, the executive vice president now owns 442 shares of the company’s stock, valued at $29,861.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Srinivasan Veeraraghavachary sold 12,000 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $62.50, for a total value of $750,000.00. The disclosure for this sale can be found here. Insiders sold 63,783 shares of company stock valued at $4,222,615 in the last ninety days. 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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