Winslow Evans & Crocker Inc. Trims Position in Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Winslow Evans & Crocker Inc. lessened its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 62.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,758 shares of the information technology service provider’s stock after selling 14,500 shares during the quarter. Winslow Evans & Crocker Inc.’s holdings in Cognizant Technology Solutions were worth $556,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CTSH. Somerset Trust Co lifted its stake in shares of Cognizant Technology Solutions by 152.0% during the 1st quarter. Somerset Trust Co now owns 494 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 298 shares during the period. Resources Investment Advisors Inc. raised its position in Cognizant Technology Solutions by 125.6% in the first quarter. Resources Investment Advisors Inc. now owns 503 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 280 shares during the period. Penserra Capital Management LLC purchased a new position in Cognizant Technology Solutions in the first quarter valued at about $37,000. Pinnacle Bank purchased a new position in Cognizant Technology Solutions in the fourth quarter valued at about $42,000. Finally, Nelson Roberts Investment Advisors LLC raised its position in Cognizant Technology Solutions by 7,175.0% in the first quarter. Nelson Roberts Investment Advisors LLC now owns 582 shares of the information technology service provider’s stock valued at $42,000 after purchasing an additional 574 shares during the period. 89.20% of the stock is currently owned by institutional investors.

Several research firms have commented on CTSH. Nomura lowered Cognizant Technology Solutions to a “hold” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. lowered Cognizant Technology Solutions from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $83.00 to $65.00 in a research report on Friday, May 3rd. Wells Fargo & Co set a $63.00 price objective on Cognizant Technology Solutions and gave the company a “hold” rating in a research report on Friday, May 3rd. UBS Group cut their price objective on Cognizant Technology Solutions from $76.00 to $62.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Finally, Needham & Company LLC lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $74.57.

NASDAQ:CTSH traded up $0.19 during mid-day trading on Wednesday, reaching $65.52. The stock had a trading volume of 191,538 shares, compared to its average volume of 2,884,378. The stock has a market cap of $37.19 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 1.68 and a beta of 1.01. Cognizant Technology Solutions Corp has a 1-year low of $56.73 and a 1-year high of $82.29. The business has a 50 day simple moving average of $64.43. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 EPS for the quarter, missing the Zacks’ consensus estimate of $1.03 by ($0.12). The firm had revenue of $4.11 billion during the quarter, compared to analyst estimates of $4.16 billion. Cognizant Technology Solutions had a return on equity of 21.50% and a net margin of 12.39%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $0.94 earnings per share. As a group, analysts predict that Cognizant Technology Solutions Corp will post 3.91 EPS for the current fiscal year.

In other news, CFO Karen Mcloughlin sold 7,905 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $64.28, for a total transaction of $508,133.40. Following the sale, the chief financial officer now owns 65,906 shares of the company’s stock, valued at $4,236,437.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Robert Telesmanic sold 3,343 shares of Cognizant Technology Solutions stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $60.00, for a total value of $200,580.00. Following the sale, the senior vice president now directly owns 7,337 shares in the company, valued at approximately $440,220. The disclosure for this sale can be found here. Insiders sold 47,120 shares of company stock worth $2,960,866 in the last three months. 0.56% of the stock is currently owned by corporate insiders.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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

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