Cognizant Technology Solutions Corp (NASDAQ:CTSH) Stock Holdings Lessened by Dalton Investments LLC

Dalton Investments LLC decreased its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 8.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 341,447 shares of the information technology service provider’s stock after selling 33,038 shares during the period. Cognizant Technology Solutions comprises about 9.8% of Dalton Investments LLC’s holdings, making the stock its 3rd largest position. Dalton Investments LLC’s holdings in Cognizant Technology Solutions were worth $21,644,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in CTSH. Geode Capital Management LLC raised its position in Cognizant Technology Solutions by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 7,217,002 shares of the information technology service provider’s stock valued at $457,298,000 after acquiring an additional 482,575 shares in the last quarter. First Allied Advisory Services Inc. raised its position in Cognizant Technology Solutions by 88.2% during the first quarter. First Allied Advisory Services Inc. now owns 27,181 shares of the information technology service provider’s stock valued at $1,962,000 after acquiring an additional 12,742 shares in the last quarter. Cetera Advisor Networks LLC raised its position in Cognizant Technology Solutions by 32.0% during the first quarter. Cetera Advisor Networks LLC now owns 7,312 shares of the information technology service provider’s stock valued at $528,000 after acquiring an additional 1,774 shares in the last quarter. Moors & Cabot Inc. bought a new position in Cognizant Technology Solutions during the first quarter valued at approximately $326,000. Finally, Cim LLC raised its position in Cognizant Technology Solutions by 1.2% during the first quarter. Cim LLC now owns 126,158 shares of the information technology service provider’s stock valued at $9,140,000 after acquiring an additional 1,468 shares in the last quarter. 91.52% of the stock is currently owned by institutional investors.

In other Cognizant Technology Solutions news, insider Malcolm Frank sold 7,469 shares of Cognizant Technology Solutions stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $64.05, for a total transaction of $478,389.45. Following the sale, the insider now owns 30,951 shares in the company, valued at $1,982,411.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert Telesmanic sold 2,484 shares of Cognizant Technology Solutions stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $65.00, for a total transaction of $161,460.00. Following the sale, the senior vice president now owns 7,337 shares in the company, valued at approximately $476,905. The disclosure for this sale can be found here. Insiders have sold 41,098 shares of company stock worth $2,598,415 in the last quarter. Corporate insiders own 0.56% of the company’s stock.

NASDAQ:CTSH opened at $65.04 on Friday. Cognizant Technology Solutions Corp has a 12 month low of $56.73 and a 12 month high of $77.87. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $62.74 and its 200-day moving average is $65.94. The firm has a market cap of $35.76 billion, a price-to-earnings ratio of 16.18, a P/E/G ratio of 1.62 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. Cognizant Technology Solutions had a net margin of 12.61% and a return on equity of 20.52%. The firm had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the previous year, the company earned $1.05 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. Research analysts predict that Cognizant Technology Solutions Corp will post 3.96 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $0.80 dividend on an annualized basis and a yield of 1.23%. Cognizant Technology Solutions’s dividend payout ratio is currently 19.90%.

Several equities analysts recently weighed in on CTSH shares. Robert W. Baird set a $76.00 price objective on shares of Cognizant Technology Solutions and gave the company a “buy” rating in a research report on Friday, September 6th. TheStreet raised shares of Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a research report on Tuesday, July 23rd. ValuEngine raised shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. UBS Group lowered shares of Cognizant Technology Solutions from a “neutral” rating to a “sell” rating and cut their price objective for the company from $62.00 to $60.00 in a research report on Friday, August 2nd. Finally, HSBC lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and cut their price objective for the company from $72.00 to $70.00 in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $74.45.

About Cognizant Technology Solutions

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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