ETRADE Capital Management LLC Decreases Position in Cognizant Technology Solutions Corporation (CTSH)

ETRADE Capital Management LLC lowered its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 7.0% during the third quarter, Holdings Channel reports. The firm owned 41,186 shares of the information technology service provider’s stock after selling 3,096 shares during the period. ETRADE Capital Management LLC’s holdings in Cognizant Technology Solutions Corporation were worth $1,965,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. BlackRock Japan Co. Ltd raised its stake in Cognizant Technology Solutions Corporation by 1.0% in the third quarter. BlackRock Japan Co. Ltd now owns 786,562 shares of the information technology service provider’s stock valued at $37,527,000 after buying an additional 8,092 shares during the last quarter. Allegis Investment Advisors LLC raised its stake in Cognizant Technology Solutions Corporation by 10.4% in the third quarter. Allegis Investment Advisors LLC now owns 26,125 shares of the information technology service provider’s stock valued at $1,246,000 after buying an additional 2,458 shares during the last quarter. Morgan Stanley raised its stake in Cognizant Technology Solutions Corporation by 48.2% in the third quarter. Morgan Stanley now owns 5,049,156 shares of the information technology service provider’s stock valued at $240,896,000 after buying an additional 1,643,045 shares during the last quarter. Schroder Investment Management Group raised its stake in Cognizant Technology Solutions Corporation by 15.6% in the second quarter. Schroder Investment Management Group now owns 4,193,480 shares of the information technology service provider’s stock valued at $240,034,000 after buying an additional 564,958 shares during the last quarter. Finally, DnB Asset Management AS raised its stake in Cognizant Technology Solutions Corporation by 3,053.6% in the third quarter. DnB Asset Management AS now owns 1,392,248 shares of the information technology service provider’s stock valued at $66,424,000 after buying an additional 1,348,100 shares during the last quarter. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 57.36 on Wednesday. The firm has a market cap of $34.82 billion, a P/E ratio of 22.49 and a beta of 1.28. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $63.23. The firm has a 50-day moving average of $56.00 and a 200-day moving average of $54.98.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 8th. The information technology service provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.01. Cognizant Technology Solutions Corporation had a net margin of 11.52% and a return on equity of 18.83%. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same period in the previous year, the business posted $0.80 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that Cognizant Technology Solutions Corporation will post $3.65 earnings per share for the current fiscal year.

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Several research firms have commented on CTSH. Zacks Investment Research raised shares of Cognizant Technology Solutions Corporation from a “sell” rating to a “hold” rating in a report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Friday, February 10th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $60.00 price target (down from $68.00) on shares of Cognizant Technology Solutions Corporation in a report on Thursday, February 9th. BMO Capital Markets reaffirmed a “buy” rating and issued a $60.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Thursday, February 9th. Finally, Citigroup Inc. upped their price target on shares of Cognizant Technology Solutions Corporation to $0.87 and gave the company an “outperform” rating in a report on Thursday, February 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $62.43.

In other news, CFO Karen Mcloughlin sold 1,873 shares of the stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $58.16, for a total transaction of $108,933.68. Following the completion of the transaction, the chief financial officer now directly owns 40,741 shares of the company’s stock, valued at approximately $2,369,496.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Malcolm Frank sold 666 shares of the stock in a transaction that occurred on Monday, December 5th. The stock was sold at an average price of $54.67, for a total value of $36,410.22. Following the transaction, the vice president now directly owns 4,520 shares of the company’s stock, valued at $247,108.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,466 shares of company stock valued at $3,201,816. 0.81% of the stock is owned by insiders.

Cognizant Technology Solutions Corporation 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.

5 Day Chart for NASDAQ:CTSH

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