The Cognizant Technology Solutions Corporation (CTSH) Stake Reduced by Two Sigma Securities LLC

The Cognizant Technology Solutions Corporation (CTSH) Stake Reduced by Two Sigma Securities LLC

Two Sigma Securities LLC decreased its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 79.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,173 shares of the information technology service provider’s stock after selling 27,919 shares during the period. Two Sigma Securities LLC’s holdings in Cognizant Technology Solutions Corporation were worth $342,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Pinkerton Retirement Specialists LLC acquired a new position in Cognizant Technology Solutions Corporation during the second quarter valued at approximately $166,000. First Mercantile Trust Co. acquired a new position in Cognizant Technology Solutions Corporation during the second quarter valued at approximately $174,000. Lenox Wealth Management Inc. boosted its position in Cognizant Technology Solutions Corporation by 5.3% in the second quarter. Lenox Wealth Management Inc. now owns 3,414 shares of the information technology service provider’s stock valued at $195,000 after buying an additional 172 shares during the last quarter. Washington Trust Bank boosted its position in Cognizant Technology Solutions Corporation by 94.5% in the third quarter. Washington Trust Bank now owns 3,479 shares of the information technology service provider’s stock valued at $166,000 after buying an additional 1,690 shares during the last quarter. Finally, Cornerstone Advisors Inc. boosted its position in Cognizant Technology Solutions Corporation by 1,207.9% in the third quarter. Cornerstone Advisors Inc. now owns 3,479 shares of the information technology service provider’s stock valued at $166,000 after buying an additional 3,213 shares during the last quarter. Institutional investors and hedge funds own 83.48% of the company’s stock.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 1.38% during mid-day trading on Wednesday, hitting $57.36. The company has a market capitalization of $34.80 billion, a PE ratio of 22.41 and a beta of 1.33. Cognizant Technology Solutions Corporation has a 52 week low of $45.44 and a 52 week high of $63.43. The company’s 50-day moving average is $56.31 and its 200-day moving average is $55.34.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings data on Monday, November 7th. The information technology service provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The business earned $3.45 billion during the quarter, compared to the consensus estimate of $3.46 billion. Cognizant Technology Solutions Corporation had a net margin of 11.78% and a return on equity of 19.42%. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. On average, equities research analysts forecast that Cognizant Technology Solutions Corporation will post $3.35 EPS for the current year.

Several equities analysts recently commented on the company. Vetr cut Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating and set a $64.12 target price for the company. in a research report on Wednesday. Loop Capital began coverage on Cognizant Technology Solutions Corporation in a research note on Tuesday, January 10th. They set a “hold” rating and a $60.00 price target for the company. Zacks Investment Research raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Monday, January 9th. Deutsche Bank AG reaffirmed a “buy” rating and set a $69.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Friday, October 21st. Finally, Jefferies Group reaffirmed a “buy” rating and set a $63.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, November 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $65.39.

In other Cognizant Technology Solutions Corporation news, VP Malcolm Frank sold 666 shares of the firm’s stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $54.67, for a total value of $36,410.22. Following the completion of the sale, the vice president now owns 4,520 shares of the company’s stock, valued at $247,108.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 transaction of $512,700.00. Following the completion of the sale, the chief financial officer now directly owns 52,614 shares of the company’s stock, valued at approximately $2,697,519.78. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.

About Cognizant Technology Solutions Corporation

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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