Global X Management Co. LLC Has $455,000 Stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Global X Management Co. LLC raised its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 9.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,639 shares of the information technology service provider’s stock after buying an additional 669 shares during the period. Global X Management Co. LLC’s holdings in Cognizant Technology Solutions Corporation were worth $455,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the stock. Edgewood Management LLC raised its stake in Cognizant Technology Solutions Corporation by 3.9% in the first quarter. Edgewood Management LLC now owns 14,706,635 shares of the information technology service provider’s stock worth $875,339,000 after buying an additional 557,035 shares during the last quarter. FMR LLC raised its stake in shares of Cognizant Technology Solutions Corporation by 2.3% in the first quarter. FMR LLC now owns 13,803,392 shares of the information technology service provider’s stock valued at $821,576,000 after buying an additional 314,137 shares in the last quarter. Swedbank raised its stake in shares of Cognizant Technology Solutions Corporation by 2.6% in the first quarter. Swedbank now owns 7,731,077 shares of the information technology service provider’s stock valued at $460,154,000 after buying an additional 194,890 shares in the last quarter. Pzena Investment Management LLC increased its position in Cognizant Technology Solutions Corporation by 41.9% in the first quarter. Pzena Investment Management LLC now owns 6,713,981 shares of the information technology service provider’s stock valued at $399,616,000 after buying an additional 1,981,287 shares during the last quarter. Finally, Boston Partners increased its position in Cognizant Technology Solutions Corporation by 4.2% in the first quarter. Boston Partners now owns 5,895,340 shares of the information technology service provider’s stock valued at $350,891,000 after buying an additional 235,407 shares during the last quarter. 89.18% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded down 0.57% during midday trading on Friday, reaching $69.32. 3,926,121 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $67.77 and a 200 day moving average price of $61.76. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $70.49. The company has a market cap of $40.83 billion, a price-to-earnings ratio of 25.22 and a beta of 1.16.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings data on Friday, May 5th. The information technology service provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.75 by $0.09. The company had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.52 billion. Cognizant Technology Solutions Corporation had a net margin of 12.07% and a return on equity of 18.77%. Cognizant Technology Solutions Corporation’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 earnings per share. On average, analysts expect that Cognizant Technology Solutions Corporation will post $3.67 EPS for the current fiscal year.

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Several brokerages have recently issued reports on CTSH. Cowen and Company reaffirmed a “buy” rating and issued a $75.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Friday. BidaskClub upgraded shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 22nd. Societe Generale cut shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $68.00 to $74.00 in a research report on Monday, June 5th. Pacific Crest restated an “overweight” rating and issued a $75.00 price objective (up previously from $73.00) on shares of Cognizant Technology Solutions Corporation in a research report on Thursday, June 1st. Finally, HSBC Holdings plc lowered shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and lifted their target price for the stock from $65.00 to $68.00 in a report on Thursday, June 8th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $65.78.

In other Cognizant Technology Solutions Corporation news, COO Srinivasan Veeraraghavachary sold 12,000 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $62.50, for a total value of $750,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Venkat Krishnaswamy sold 6,438 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $64.15, for a total transaction of $412,997.70. Following the completion of the transaction, the insider now owns 22,363 shares of the company’s stock, valued at $1,434,586.45. The disclosure for this sale can be found here. Insiders have sold 63,783 shares of company stock valued at $4,222,615 over the last ninety days. 1.08% of the stock is owned by 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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