GW Henssler & Associates Ltd. Buys 7,150 Shares of Cognizant Technology Solutions Corp. (CTSH)

GW Henssler & Associates Ltd. raised its position in shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) by 4.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 171,860 shares of the information technology service provider’s stock after buying an additional 7,150 shares during the period. GW Henssler & Associates Ltd.’s holdings in Cognizant Technology Solutions Corp. were worth $9,837,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CTSH. Washington Trust Bank boosted its position in shares of Cognizant Technology Solutions Corp. by 6.8% in the second quarter. Washington Trust Bank now owns 1,789 shares of the information technology service provider’s stock worth $102,000 after buying an additional 114 shares during the last quarter. First Manhattan Co. boosted its position in shares of Cognizant Technology Solutions Corp. by 16.8% in the second quarter. First Manhattan Co. now owns 2,523 shares of the information technology service provider’s stock worth $144,000 after buying an additional 363 shares during the last quarter. Iowa State Bank acquired a new position in shares of Cognizant Technology Solutions Corp. during the second quarter worth about $169,000. Duncker Streett & Co. Inc. boosted its position in shares of Cognizant Technology Solutions Corp. by 5.0% in the second quarter. Duncker Streett & Co. Inc. now owns 3,550 shares of the information technology service provider’s stock worth $203,000 after buying an additional 170 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in shares of Cognizant Technology Solutions Corp. during the first quarter worth about $219,000. 87.00% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded down 1.78% during mid-day trading on Friday, hitting $50.34. 6,275,447 shares of the stock were exchanged. The stock’s 50-day moving average is $54.14 and its 200-day moving average is $58.23. Cognizant Technology Solutions Corp. has a 52 week low of $45.44 and a 52 week high of $69.80. The stock has a market capitalization of $30.55 billion, a price-to-earnings ratio of 20.30 and a beta of 1.43.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last posted its quarterly earnings data on Friday, August 5th. The information technology service provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. Cognizant Technology Solutions Corp. had a net margin of 11.65% and a return on equity of 19.31%. The business earned $3.37 billion during the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter last year, the company posted $0.79 earnings per share. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. Analysts forecast that Cognizant Technology Solutions Corp. will post $3.38 earnings per share for the current fiscal year.

CTSH has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Cognizant Technology Solutions Corp. in a research note on Wednesday, June 29th. Jefferies Group reissued a “buy” rating and set a $70.00 price target on shares of Cognizant Technology Solutions Corp. in a research report on Monday, June 20th. Barclays PLC reissued a “buy” rating on shares of Cognizant Technology Solutions Corp. in a research report on Saturday, July 9th. JPMorgan Chase & Co. reissued a “buy” rating and set a $62.00 price target on shares of Cognizant Technology Solutions Corp. in a research report on Wednesday, August 3rd. Finally, Citigroup Inc. reduced their price target on shares of Cognizant Technology Solutions Corp. from $71.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $65.52.

In other news, VP Malcolm Frank sold 1,248 shares of Cognizant Technology Solutions Corp. stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $58.50, for a total value of $73,008.00. Following the completion of the transaction, the vice president now owns 3,945 shares in the company, valued at $230,782.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Francisco Dsouza sold 300,000 shares of Cognizant Technology Solutions Corp. stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $58.32, for a total transaction of $17,496,000.00. Following the completion of the transaction, the chief executive officer now owns 422,602 shares of the company’s stock, valued at approximately $24,646,148.64. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

Cognizant Technology Solutions Corp. Company Profile

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.

5 Day Chart for NASDAQ:CTSH

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