Highland Capital Management LLC Sells 101 Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Highland Capital Management LLC lowered its position in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 1.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 8,695 shares of the information technology service provider’s stock after selling 101 shares during the period. Highland Capital Management LLC’s holdings in Cognizant Technology Solutions Corporation were worth $577,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America boosted its stake in Cognizant Technology Solutions Corporation by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock valued at $140,000 after buying an additional 27 shares during the period. CENTRAL TRUST Co boosted its stake in Cognizant Technology Solutions Corporation by 0.5% in the second quarter. CENTRAL TRUST Co now owns 6,403 shares of the information technology service provider’s stock valued at $425,000 after buying an additional 35 shares during the period. Boltwood Capital Management boosted its stake in Cognizant Technology Solutions Corporation by 0.4% in the second quarter. Boltwood Capital Management now owns 15,910 shares of the information technology service provider’s stock valued at $1,056,000 after buying an additional 60 shares during the period. Watch Point Trust Co boosted its stake in Cognizant Technology Solutions Corporation by 0.3% in the second quarter. Watch Point Trust Co now owns 39,446 shares of the information technology service provider’s stock valued at $2,620,000 after buying an additional 105 shares during the period. Finally, Koshinski Asset Management Inc. boosted its stake in Cognizant Technology Solutions Corporation by 3.4% in the first quarter. Koshinski Asset Management Inc. now owns 3,930 shares of the information technology service provider’s stock valued at $234,000 after buying an additional 130 shares during the period. 88.68% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded down 0.24% during mid-day trading on Friday, hitting $70.07. The company had a trading volume of 2,636,572 shares. The company’s 50 day moving average price is $69.29 and its 200-day moving average price is $63.21. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $72.07. The firm has a market capitalization of $41.38 billion, a PE ratio of 22.48 and a beta of 1.17.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter last year, the firm earned $0.87 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, analysts forecast that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd will be given a dividend of $0.15 per share. The ex-dividend date is Friday, August 18th. This represents a $0.60 annualized dividend and a dividend yield of 0.86%. Cognizant Technology Solutions Corporation’s dividend payout ratio is currently 19.17%.

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CTSH has been the subject of a number of analyst reports. Vetr cut Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating and set a $67.50 price objective for the company. in a research note on Monday, May 1st. Cantor Fitzgerald reaffirmed a “buy” rating and set a $67.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Friday, May 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price objective (up from $65.00) on shares of Cognizant Technology Solutions Corporation in a research note on Friday, May 5th. Credit Suisse Group set a $70.00 price objective on Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a research note on Saturday, May 6th. Finally, Morgan Stanley lifted their price objective on Cognizant Technology Solutions Corporation from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, May 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $70.02.

In other Cognizant Technology Solutions Corporation news, Director John E. Klein sold 11,560 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $71.86, for a total transaction of $830,701.60. Following the transaction, the director now owns 482,880 shares of the company’s stock, valued at approximately $34,699,756.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gajakarnan Vibushanan Kandiah sold 1,500 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $66.00, for a total transaction of $99,000.00. Following the transaction, the insider now directly owns 10,515 shares in the company, valued at approximately $693,990. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,222 shares of company stock worth $6,326,183. 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.

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

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