Tandem Investment Advisors Inc. Has $1.16 Million Stake in Cognizant Technology Solutions Corporation (CTSH)

Tandem Investment Advisors Inc. cut its holdings in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 8.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,919 shares of the information technology service provider’s stock after selling 1,440 shares during the period. Tandem Investment Advisors Inc.’s holdings in Cognizant Technology Solutions Corporation were worth $1,155,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CTSH. Acrospire Investment Management LLC raised its holdings in shares of Cognizant Technology Solutions Corporation by 92.6% in the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after buying an additional 800 shares during the last quarter. WFG Advisors LP raised its holdings in shares of Cognizant Technology Solutions Corporation by 46.4% during the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after purchasing an additional 621 shares during the last quarter. Krilogy Financial LLC purchased a new position in shares of Cognizant Technology Solutions Corporation during the second quarter worth $137,000. Guardian Life Insurance Co. of America increased its holdings in Cognizant Technology Solutions Corporation by 1.2% in the first 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 buying an additional 27 shares in the last quarter. Finally, Manchester Capital Management LLC increased its holdings in Cognizant Technology Solutions Corporation by 15.7% in the second quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock valued at $181,000 after buying an additional 370 shares in the last quarter. Institutional investors own 87.16% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (CTSH) traded up 0.95% during midday trading on Friday, reaching $75.29. 1,671,696 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $72.89 and its 200 day moving average price is $68.09. The firm has a market capitalization of $44.47 billion, a P/E ratio of 24.15 and a beta of 1.12. Cognizant Technology Solutions Corporation has a 52-week low of $50.86 and a 52-week high of $75.50.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the company earned $0.87 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current fiscal year.

A number of research firms have weighed in on CTSH. Needham & Company LLC reaffirmed a “buy” rating and issued a $78.00 price objective (up previously from $72.00) on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, August 9th. Berenberg Bank upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $85.00 in a research report on Tuesday, August 8th. Zacks Investment Research upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Tuesday, August 8th. BMO Capital Markets reiterated a “buy” rating and issued a $76.00 target price (up from $69.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, August 4th. Finally, Loop Capital upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and boosted their target price for the company from $63.00 to $83.00 in a report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $74.07.

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In other Cognizant Technology Solutions Corporation news, insider Venkat Krishnaswamy sold 8,151 shares of Cognizant Technology Solutions Corporation stock in a transaction on Monday, August 14th. The stock was sold at an average price of $70.93, for a total value of $578,150.43. Following the completion of the transaction, the insider now directly owns 9,429 shares of the company’s stock, valued at approximately $668,798.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Srinivasan Veeraraghavachary sold 2,500 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $71.00, for a total value of $177,500.00. Following the transaction, the chief operating officer now directly owns 27,165 shares of the company’s stock, valued at approximately $1,928,715. The disclosure for this sale can be found here. Insiders sold a total of 281,095 shares of company stock valued at $20,095,913 over the last 90 days. 1.08% of the stock is currently owned by corporate insiders.

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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