Cognizant Technology Solutions Corporation (CTSH) Stake Lowered by California State Teachers Retirement System

California State Teachers Retirement System cut its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 10.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,082,458 shares of the information technology service provider’s stock after selling 120,166 shares during the quarter. California State Teachers Retirement System owned 0.18% of Cognizant Technology Solutions Corporation worth $71,875,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Pathstone Family Office LLC increased its stake in shares of Cognizant Technology Solutions Corporation by 1,208.8% in the 2nd quarter. Pathstone Family Office LLC now owns 1,479 shares of the information technology service provider’s stock valued at $2,485,000 after acquiring an additional 1,366 shares during the last quarter. Acrospire Investment Management LLC increased its stake in shares of Cognizant Technology Solutions Corporation by 92.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after acquiring an additional 800 shares during the last quarter. Guardian Life Insurance Co. of America increased its stake in shares of Cognizant Technology Solutions Corporation by 1.2% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock valued at $140,000 after acquiring an additional 27 shares during the last quarter. Manchester Capital Management LLC increased its stake in shares of Cognizant Technology Solutions Corporation by 15.7% in the 2nd quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock valued at $181,000 after acquiring an additional 370 shares during the last quarter. Finally, First National Trust Co. bought a new stake in shares of Cognizant Technology Solutions Corporation in the 2nd quarter valued at about $207,000. 87.60% of the stock is owned by institutional investors.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 0.048% during midday trading on Tuesday, hitting $73.685. The stock had a trading volume of 857,190 shares. Cognizant Technology Solutions Corporation has a 52 week low of $49.35 and a 52 week high of $74.03. The company’s 50 day moving average is $71.55 and its 200 day moving average is $66.81. The firm has a market cap of $43.52 billion, a P/E ratio of 23.640 and a beta of 1.12.

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, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.65 billion. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. Cognizant Technology Solutions Corporation’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 earnings per share. On average, equities analysts predict that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

In other Cognizant Technology Solutions Corporation news, EVP Allen Shaheen sold 442 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was 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 SEC, which is available at this link. Also, insider Gajakarnan Vibushanan Kandiah sold 4,999 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $69.50, for a total value of $347,430.50. Following the completion of the transaction, the insider now directly owns 10,515 shares in the company, valued at approximately $730,792.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 287,324 shares of company stock worth $20,518,833. 1.08% of the stock is owned by insiders.

CTSH has been the subject of a number of recent analyst reports. Robert W. Baird reaffirmed a “buy” rating and issued a $80.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Sunday, September 10th. BidaskClub raised Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. Bank of America Corporation reaffirmed a “buy” rating and issued a $86.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Tuesday, September 12th. Vetr raised Cognizant Technology Solutions Corporation from a “sell” rating to a “buy” rating and set a $76.85 price target for the company in a research note on Tuesday, September 19th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Friday, September 8th. Five analysts have rated the stock with a hold rating, twenty have assigned 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 price target of $

Other hedge funds also recently made changes to their positions in the company. Pathstone Family Office LLC increased its stake in shares of Cognizant Technology Solutions Corporation by 1,208.8% in the 2nd quarter. Pathstone Family Office LLC now owns 1,479 shares of the information technology service provider’s stock valued at $2,485,000 after acquiring an additional 1,366 shares during the last quarter. Acrospire Investment Management LLC increased its stake in shares of Cognizant Technology Solutions Corporation by 92.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after acquiring an additional 800 shares during the last quarter. Guardian Life Insurance Co. of America increased its stake in shares of Cognizant Technology Solutions Corporation by 1.2% in the 1st quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock valued at $140,000 after acquiring an additional 27 shares during the last quarter. Manchester Capital Management LLC increased its stake in shares of Cognizant Technology Solutions Corporation by 15.7% in the 2nd quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock valued at $181,000 after acquiring an additional 370 shares during the last quarter. Finally, First National Trust Co. bought a new stake in shares of Cognizant Technology Solutions Corporation in the 2nd quarter valued at about $207,000. 87.60% of the stock is owned by institutional investors.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 0.048% during midday trading on Tuesday, hitting $73.685. The stock had a trading volume of 857,190 shares. Cognizant Technology Solutions Corporation has a 52 week low of $49.35 and a 52 week high of $74.03. The company’s 50 day moving average is $71.55 and its 200 day moving average is $66.81. The firm has a market cap of $43.52 billion, a P/E ratio of 23.640 and a beta of 1.12.

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, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.65 billion. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. Cognizant Technology Solutions Corporation’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 earnings per share. On average, equities analysts predict that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

In other Cognizant Technology Solutions Corporation news, EVP Allen Shaheen sold 442 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was 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 SEC, which is available at this link. Also, insider Gajakarnan Vibushanan Kandiah sold 4,999 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $69.50, for a total value of $347,430.50. Following the completion of the transaction, the insider now directly owns 10,515 shares in the company, valued at approximately $730,792.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 287,324 shares of company stock worth $20,518,833. 1.08% of the stock is owned by insiders.

CTSH has been the subject of a number of recent analyst reports. Robert W. Baird reaffirmed a “buy” rating and issued a $80.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Sunday, September 10th. BidaskClub raised Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. Bank of America Corporation reaffirmed a “buy” rating and issued a $86.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Tuesday, September 12th. Vetr raised Cognizant Technology Solutions Corporation from a “sell” rating to a “buy” rating and set a $76.85 price target for the company in a research note on Tuesday, September 19th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Friday, September 8th. Five analysts have rated the stock with a hold rating, twenty have assigned 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 price target of $72.91.

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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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