Pendal Group Ltd decreased its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 34.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,766,390 shares of the information technology service provider’s stock after selling 933,374 shares during the period. Cognizant Technology Solutions makes up about 1.4% of Pendal Group Ltd’s holdings, making the stock its 14th largest holding. Pendal Group Ltd’s holdings in Cognizant Technology Solutions were worth $100,057,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Lenox Wealth Management Inc. lifted its position in Cognizant Technology Solutions by 15.0% during the first quarter. Lenox Wealth Management Inc. now owns 1,102 shares of the information technology service provider’s stock worth $80,000 after buying an additional 144 shares during the period. LS Investment Advisors LLC increased its stake in shares of Cognizant Technology Solutions by 1.0% during the 1st quarter. LS Investment Advisors LLC now owns 18,534 shares of the information technology service provider’s stock valued at $1,343,000 after acquiring an additional 177 shares during the last quarter. National Asset Management Inc. increased its stake in shares of Cognizant Technology Solutions by 2.7% during the 1st quarter. National Asset Management Inc. now owns 6,787 shares of the information technology service provider’s stock valued at $492,000 after acquiring an additional 181 shares during the last quarter. NEXT Financial Group Inc increased its stake in shares of Cognizant Technology Solutions by 18.9% during the 2nd quarter. NEXT Financial Group Inc now owns 1,184 shares of the information technology service provider’s stock valued at $75,000 after acquiring an additional 188 shares during the last quarter. Finally, Bigelow Investment Advisors LLC increased its stake in shares of Cognizant Technology Solutions by 2.6% during the 1st quarter. Bigelow Investment Advisors LLC now owns 7,825 shares of the information technology service provider’s stock valued at $567,000 after acquiring an additional 195 shares during the last quarter. Institutional investors own 88.41% of the company’s stock.

A number of research analysts have recently commented on CTSH shares. Wells Fargo & Co set a $63.00 price objective on shares of Cognizant Technology Solutions and gave the company a “hold” rating in a research note on Friday, May 3rd. Bank of America reaffirmed an “underperform” rating and set a $57.00 price objective (down previously from $71.00) on shares of Cognizant Technology Solutions in a research note on Monday, May 6th. Daiwa Capital Markets downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Argus downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Finally, JPMorgan Chase & Co. downgraded shares of Cognizant Technology Solutions from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $83.00 to $65.00 in a research note on Friday, May 3rd. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $74.48.

NASDAQ CTSH traded up $0.61 during trading hours on Tuesday, hitting $61.78. The company had a trading volume of 3,229,637 shares, compared to its average volume of 3,514,492. The business’s 50 day moving average is $64.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 2.55. Cognizant Technology Solutions Corp has a fifty-two week low of $56.73 and a fifty-two week high of $78.59. The stock has a market cap of $34.50 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.56 and a beta of 1.01.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 22nd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, August 21st. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 19.90%.

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

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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