Rosenbaum Jay D. Trims Stock Position in Cognizant Technology Solutions Corp (NASDAQ:CTSH)

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Rosenbaum Jay D. lessened its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,850 shares of the information technology service provider’s stock after selling 315 shares during the period. Cognizant Technology Solutions makes up 2.1% of Rosenbaum Jay D.’s holdings, making the stock its 19th biggest position. Rosenbaum Jay D.’s holdings in Cognizant Technology Solutions were worth $1,131,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its holdings in shares of Cognizant Technology Solutions by 4.7% during the first quarter. BlackRock Inc. now owns 47,153,467 shares of the information technology service provider’s stock worth $3,416,269,000 after purchasing an additional 2,129,464 shares during the last quarter. FMR LLC raised its holdings in shares of Cognizant Technology Solutions by 21.9% during the first quarter. FMR LLC now owns 15,767,608 shares of the information technology service provider’s stock worth $1,142,362,000 after purchasing an additional 2,827,833 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Cognizant Technology Solutions by 3.4% during the first quarter. Northern Trust Corp now owns 7,655,802 shares of the information technology service provider’s stock worth $554,663,000 after purchasing an additional 252,685 shares during the last quarter. Pzena Investment Management LLC raised its holdings in shares of Cognizant Technology Solutions by 0.4% during the first quarter. Pzena Investment Management LLC now owns 7,636,219 shares of the information technology service provider’s stock worth $553,244,000 after purchasing an additional 29,090 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of 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 worth $457,298,000 after purchasing an additional 482,575 shares during the last quarter. 88.41% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Allen Shaheen sold 1,369 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $60.16, for a total value of $82,359.04. Following the sale, the executive vice president now owns 3,073 shares in the company, valued at $184,871.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Robert Telesmanic sold 3,343 shares of Cognizant Technology Solutions stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $60.00, for a total transaction of $200,580.00. Following the completion of the sale, the senior vice president now owns 7,337 shares in the company, valued at approximately $440,220. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,120 shares of company stock worth $2,960,866. Company insiders own 0.56% of the company’s stock.

Several research analysts recently issued reports on CTSH shares. Wells Fargo & Co set a $63.00 target price on shares of Cognizant Technology Solutions and gave the stock a “hold” rating in a report on Friday, May 3rd. CIBC reissued a “market perform” rating on shares of Cognizant Technology Solutions in a report on Friday, May 3rd. HSBC cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and reduced their target price for the stock from $72.00 to $70.00 in a report on Tuesday, July 23rd. Daiwa Capital Markets cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Finally, Argus cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Five equities research 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’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $74.48.

CTSH stock traded up $0.26 during midday trading on Thursday, hitting $60.91. 80,373 shares of the stock traded hands, compared to its average volume of 3,491,923. The firm has a market capitalization of $33.78 billion, a price-to-earnings ratio of 15.16, a P/E/G ratio of 1.53 and a beta of 1.01. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.55 and a current ratio of 2.55. The company’s fifty day moving average is $64.35. Cognizant Technology Solutions Corp has a 1-year low of $56.73 and a 1-year high of $78.59.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.13 billion. Cognizant Technology Solutions had a net margin of 12.61% and a return on equity of 20.52%. The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $1.05 earnings per share. Sell-side analysts anticipate that Cognizant Technology Solutions Corp will post 3.96 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 22nd will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.31%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 19.90%.

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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