Trading Report: Today, 1,164 Shares of Cognizant Technology Solutions Corp. (CTSH) are sold by Creative Planning

Today, 1,164 Shares of Cognizant Technology Solutions Corp. (CTSH) are sold by Creative Planning

Creative Planning decreased its stake in shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 2.7% during the third quarter, Holdings Channel reports. The firm owned 42,419 shares of the information technology service provider’s stock after selling 1,164 shares during the period. Creative Planning’s holdings in Cognizant Technology Solutions Corp. were worth $2,024,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the stock. Washington Trust Bank raised its stake in shares of Cognizant Technology Solutions Corp. by 6.8% in the second quarter. Washington Trust Bank now owns 1,789 shares of the information technology service provider’s stock valued at $102,000 after buying an additional 114 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Cognizant Technology Solutions Corp. during the second quarter valued at approximately $123,000. Exane Derivatives raised its stake in shares of Cognizant Technology Solutions Corp. by 22.3% in the second quarter. Exane Derivatives now owns 2,278 shares of the information technology service provider’s stock valued at $130,000 after buying an additional 416 shares during the last quarter. First Manhattan Co. raised its stake in shares of Cognizant Technology Solutions Corp. by 16.8% in the second quarter. First Manhattan Co. now owns 2,523 shares of the information technology service provider’s stock valued at $144,000 after buying an additional 363 shares during the last quarter. Finally, Assetmark Inc. raised its stake in shares of Cognizant Technology Solutions Corp. by 29.4% in the second quarter. Assetmark Inc. now owns 2,699 shares of the information technology service provider’s stock valued at $154,000 after buying an additional 613 shares during the last quarter. 85.29% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 2.68% during mid-day trading on Friday, hitting $53.25. 5,414,012 shares of the company were exchanged. The firm has a 50 day moving average price of $52.14 and a 200 day moving average price of $56.53. The stock has a market cap of $32.31 billion, a price-to-earnings ratio of 20.80 and a beta of 1.34. Cognizant Technology Solutions Corp. has a 12 month low of $45.44 and a 12 month high of $65.25.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last issued its quarterly earnings results on Monday, November 7th. The information technology service provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. Cognizant Technology Solutions Corp. had a return on equity of 19.42% and a net margin of 11.78%. The firm had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the company earned $0.76 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. Analysts anticipate that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current fiscal year.

CTSH has been the topic of several recent research reports. Nomura cut shares of Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $65.00 to $62.00 in a research note on Monday, August 8th. Needham & Company LLC lowered their target price on shares of Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, August 8th. Cantor Fitzgerald set a $68.00 target price on shares of Cognizant Technology Solutions Corp. and gave the stock a “buy” rating in a research note on Friday, August 5th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $62.00 target price on shares of Cognizant Technology Solutions Corp. in a research note on Wednesday, August 3rd. Finally, Vetr raised shares of Cognizant Technology Solutions Corp. from a “buy” rating to a “strong-buy” rating and set a $65.33 target price on the stock in a research note on Monday, September 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Cognizant Technology Solutions Corp. has an average rating of “Buy” and an average price target of $64.99.

In other Cognizant Technology Solutions Corp. news, VP Malcolm Frank sold 1,248 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $58.50, for a total value of $73,008.00. Following the sale, the vice president now directly owns 3,945 shares of the company’s stock, valued at approximately $230,782.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Karen Mcloughlin sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $51.27, for a total value of $512,700.00. Following the completion of the sale, the chief financial officer now directly owns 52,614 shares in the company, valued at $2,697,519.78. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.

Cognizant Technology Solutions Corp. Company Profile

Cognizant Technology Solutions Corporation is a provider of information technology (IT), consulting and business process services. The Company operates through four segments: Financial Services, which includes customers providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers, as well as life sciences customers, including pharmaceutical, biotech and medical device companies; Manufacturing, Retail and Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as customers providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology.

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