United Capital Financial Advisers LLC Grows Stock Holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH)

United Capital Financial Advisers LLC grew its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 11.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 307,622 shares of the information technology service provider’s stock after buying an additional 31,258 shares during the quarter. United Capital Financial Advisers LLC owned 0.06% of Cognizant Technology Solutions worth $19,500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State of Tennessee Treasury Department boosted its stake in shares of Cognizant Technology Solutions by 54.0% in the first quarter. State of Tennessee Treasury Department now owns 231,079 shares of the information technology service provider’s stock valued at $16,742,000 after purchasing an additional 81,027 shares during the period. FMR LLC boosted its stake in shares of Cognizant Technology Solutions by 21.9% in the first quarter. FMR LLC now owns 15,767,608 shares of the information technology service provider’s stock valued at $1,142,362,000 after purchasing an additional 2,827,833 shares during the period. Cedar Capital LLC boosted its stake in shares of Cognizant Technology Solutions by 12.4% in the second quarter. Cedar Capital LLC now owns 31,533 shares of the information technology service provider’s stock valued at $1,999,000 after purchasing an additional 3,486 shares during the period. MU Investments Co. Ltd. boosted its stake in shares of Cognizant Technology Solutions by 2.0% in the second quarter. MU Investments Co. Ltd. now owns 86,700 shares of the information technology service provider’s stock valued at $5,467,000 after purchasing an additional 1,700 shares during the period. Finally, Fiera Capital Corp boosted its stake in shares of Cognizant Technology Solutions by 2.2% in the second quarter. Fiera Capital Corp now owns 285,226 shares of the information technology service provider’s stock valued at $18,080,000 after purchasing an additional 6,190 shares during the period. Institutional investors own 91.52% of the company’s stock.

NASDAQ CTSH traded down $0.16 during trading hours on Friday, reaching $64.68. 120,988 shares of the company traded hands, compared to its average volume of 2,632,492. The stock has a market capitalization of $35.76 billion, a PE ratio of 16.10, a PEG ratio of 1.62 and a beta of 1.07. Cognizant Technology Solutions Corp has a 12 month low of $56.73 and a 12 month high of $77.87. The company has a 50 day moving average of $62.74 and a two-hundred day moving average of $65.94. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.13.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 earnings per share 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 net margin of 12.61% and a return on equity of 20.52%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 earnings per share. On average, equities research analysts anticipate that Cognizant Technology Solutions Corp will post 3.96 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, August 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 19.90%.

In other Cognizant Technology Solutions news, insider Malcolm Frank sold 7,469 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $64.05, for a total transaction of $478,389.45. Following the sale, the insider now directly owns 30,951 shares of the company’s stock, valued at $1,982,411.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John E. Klein sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $61.13, for a total transaction of $611,300.00. Following the sale, the director now directly owns 459,987 shares in the company, valued at $28,119,005.31. The disclosure for this sale can be found here. Insiders have sold 41,098 shares of company stock worth $2,598,415 over the last three months. 0.56% of the stock is owned by corporate insiders.

Several brokerages have recently weighed in on CTSH. UBS Group downgraded shares of Cognizant Technology Solutions from a “neutral” rating to a “sell” rating and decreased their target price for the company from $62.00 to $60.00 in a research note on Friday, August 2nd. TheStreet upgraded shares of Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a research note on Tuesday, July 23rd. ValuEngine upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. HSBC downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and decreased their target price for the company from $72.00 to $70.00 in a research note on Tuesday, July 23rd. Finally, Robert W. Baird set a $76.00 target price on shares of Cognizant Technology Solutions and gave the company a “buy” rating in a research note on Friday, September 6th. Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $74.45.

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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