Mandatum Life Insurance Co Ltd Has $2,824,000 Stake in Cognizant Technology Solutions Corporation (CTSH)

Mandatum Life Insurance Co Ltd held its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 42,523 shares of the information technology service provider’s stock at the end of the second quarter. Mandatum Life Insurance Co Ltd’s holdings in Cognizant Technology Solutions Corporation were worth $2,824,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Moreno Evelyn V raised its stake in Cognizant Technology Solutions Corporation by 15.7% in the first quarter. Moreno Evelyn V now owns 136,275 shares of the information technology service provider’s stock valued at $8,111,000 after buying an additional 18,540 shares in the last quarter. CENTRAL TRUST Co raised its stake in Cognizant Technology Solutions Corporation by 13.8% in the first quarter. CENTRAL TRUST Co now owns 6,368 shares of the information technology service provider’s stock valued at $379,000 after buying an additional 770 shares in the last quarter. Pensionfund DSM Netherlands raised its stake in Cognizant Technology Solutions Corporation by 3.3% in the first quarter. Pensionfund DSM Netherlands now owns 62,400 shares of the information technology service provider’s stock valued at $3,714,000 after buying an additional 2,000 shares in the last quarter. Private Advisor Group LLC raised its stake in Cognizant Technology Solutions Corporation by 173.9% in the first quarter. Private Advisor Group LLC now owns 30,271 shares of the information technology service provider’s stock valued at $1,219,000 after buying an additional 19,218 shares in the last quarter. Finally, Regentatlantic Capital LLC raised its stake in Cognizant Technology Solutions Corporation by 7.9% in the first quarter. Regentatlantic Capital LLC now owns 11,718 shares of the information technology service provider’s stock valued at $697,000 after buying an additional 861 shares in the last quarter. Institutional investors own 89.94% of the company’s stock.

Cognizant Technology Solutions Corporation (CTSH) traded up 0.49% during trading on Thursday, reaching $69.84. The company had a trading volume of 309,747 shares. The stock has a market capitalization of $41.14 billion, a P/E ratio of 25.41 and a beta of 1.16. The stock has a 50 day moving average of $67.24 and a 200-day moving average of $61.17. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $69.89.

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

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Several brokerages have issued reports on CTSH. Credit Suisse Group set a $70.00 price target on Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a research note on Saturday, May 6th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $80.00 price target (up previously from $66.00) on shares of Cognizant Technology Solutions Corporation in a research note on Thursday, June 15th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $67.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Friday, May 5th. BidaskClub lowered Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Finally, HSBC Holdings plc lowered Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and lifted their price target for the stock from $65.00 to $68.00 in a research note on Thursday, June 8th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cognizant Technology Solutions Corporation currently has a consensus rating of “Buy” and an average price target of $65.41.

In other news, insider Ramakrishna Prasa Chintamaneni sold 5,051 shares of Cognizant Technology Solutions Corporation stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $68.00, for a total transaction of $343,468.00. Following the completion of the sale, the insider now directly owns 20,047 shares in the company, valued at $1,363,196. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sean Middleton sold 1,890 shares of Cognizant Technology Solutions Corporation stock in a transaction on Friday, April 28th. The stock was sold at an average price of $60.00, for a total transaction of $113,400.00. Following the sale, the insider now owns 5,888 shares of the company’s stock, valued at $353,280. The disclosure for this sale can be found here. Insiders sold 57,256 shares of company stock worth $3,750,694 over the last ninety days. Corporate insiders own 1.08% of the company’s stock.

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.

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

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