Weiss Multi Strategy Advisers LLC Has $1.50 Million Position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Weiss Multi Strategy Advisers LLC cut its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 16.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,176 shares of the information technology service provider’s stock after selling 4,992 shares during the period. Weiss Multi Strategy Advisers LLC’s holdings in Cognizant Technology Solutions Corporation were worth $1,498,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. IFM Investors Pty Ltd bought a new position in shares of Cognizant Technology Solutions Corporation during the fourth quarter valued at $434,000. Numeric Investors LLC bought a new position in shares of Cognizant Technology Solutions Corporation during the fourth quarter valued at $2,449,000. Putnam Investments LLC boosted its position in shares of Cognizant Technology Solutions Corporation by 4,360.4% in the fourth quarter. Putnam Investments LLC now owns 610,310 shares of the information technology service provider’s stock valued at $34,195,000 after buying an additional 596,627 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Cognizant Technology Solutions Corporation during the fourth quarter valued at $15,875,000. Finally, Norges Bank bought a new position in shares of Cognizant Technology Solutions Corporation during the fourth quarter valued at $318,007,000. Institutional investors own 90.05% of the company’s stock.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 66.96 on Monday. Cognizant Technology Solutions Corporation has a 12 month low of $45.44 and a 12 month high of $68.18. The firm has a market capitalization of $39.44 billion, a P/E ratio of 24.36 and a beta of 1.16. The firm’s 50-day moving average is $66.43 and its 200 day moving average is $60.07.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings data on Friday, May 5th. The information technology service provider reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.09. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.52 billion. Cognizant Technology Solutions Corporation had a net margin of 12.07% and a return on equity of 18.77%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $0.80 EPS. On average, analysts expect that Cognizant Technology Solutions Corporation will post $3.66 EPS for the current fiscal year.

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CTSH has been the subject of several analyst reports. Vetr cut Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and set a $60.45 price objective for the company. in a report on Monday, March 13th. Berenberg Bank began coverage on Cognizant Technology Solutions Corporation in a report on Wednesday, March 29th. They issued a “hold” rating and a $65.00 price objective for the company. SunTrust Banks, Inc. upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Thursday, April 13th. Cantor Fitzgerald reiterated a “buy” rating and set a $67.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Friday, May 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $70.00 price target (up previously from $65.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, ten have issued 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 presently has a consensus rating of “Buy” and an average price target of $65.52.

In related news, insider Sean Middleton sold 1,460 shares of the stock in a transaction on Monday, June 19th. The shares were sold at an average price of $67.39, for a total transaction of $98,389.40. Following the transaction, the insider now owns 2,308 shares of the company’s stock, valued at approximately $155,536.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Srinivasan Veeraraghavachary sold 12,000 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $750,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,223 shares of company stock worth $3,748,484. Corporate insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corporation Company Profile

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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