Huntington National Bank trimmed its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 10.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,730 shares of the information technology service provider’s stock after selling 2,090 shares during the quarter. Huntington National Bank’s holdings in Cognizant Technology Solutions were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its stake in shares of Cognizant Technology Solutions by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,814,884 shares of the information technology service provider’s stock valued at $115,207,000 after buying an additional 127,386 shares during the period. Geode Capital Management LLC boosted its stake in shares of Cognizant Technology Solutions by 7.2% in the 4th 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 buying an additional 482,575 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Cognizant Technology Solutions by 14.4% in the 4th quarter. Macquarie Group Ltd. now owns 95,999 shares of the information technology service provider’s stock valued at $6,095,000 after buying an additional 12,083 shares during the period. Actinver Wealth Management Inc. purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at about $332,000. Finally, Pinnacle Bank purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at about $42,000. 89.20% of the stock is currently owned by institutional investors.

CTSH has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Masonite International from $66.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Nomura set a $300.00 price objective on Tesla and gave the company a “hold” rating in a research note on Friday, May 3rd. UBS Group reiterated a “buy” rating and issued a $25.00 price objective on shares of Infineon Technologies in a research note on Tuesday, May 7th. CIBC lifted their price objective on TransAlta from C$9.00 to C$10.00 in a research note on Friday, May 3rd. Finally, Daiwa Capital Markets cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Four investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $74.57.

In other Cognizant Technology Solutions news, SVP Robert Telesmanic sold 2,484 shares of Cognizant Technology Solutions stock in a transaction that occurred 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 transaction, the senior vice president now owns 7,337 shares of the company’s stock, valued at $476,905. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 value of $82,359.04. Following 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 ninety days, insiders have sold 47,120 shares of company stock worth $2,960,866. 0.56% of the stock is currently owned by corporate insiders.

CTSH stock traded down $0.79 during trading on Monday, hitting $65.61. 60,624 shares of the company’s stock were exchanged, compared to its average volume of 2,884,378. The firm has a market capitalization of $37.80 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.68 and a beta of 1.01. Cognizant Technology Solutions Corp has a 52-week low of $56.73 and a 52-week high of $83.00. The firm’s 50-day moving average price is $64.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.90 and a quick ratio of 2.90.

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

Cognizant Technology Solutions 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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