Cohen Klingenstein LLC Holds Stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Cohen Klingenstein LLC continued to hold its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the second quarter, Holdings Channel reports. The institutional investor owned 22,660 shares of the information technology service provider’s stock at the end of the second quarter. Cohen Klingenstein LLC’s holdings in Cognizant Technology Solutions Corporation were worth $1,505,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Guardian Life Insurance Co. of America raised 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 worth $140,000 after buying an additional 27 shares during the last quarter. CENTRAL TRUST Co raised 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 worth $425,000 after buying an additional 35 shares during the last quarter. Boltwood Capital Management raised 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 worth $1,056,000 after buying an additional 60 shares during the last quarter. Koshinski Asset Management Inc. raised 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 worth $234,000 after buying an additional 130 shares during the last quarter. Finally, Cleararc Capital Inc. raised its stake in Cognizant Technology Solutions Corporation by 0.9% in the first quarter. Cleararc Capital Inc. now owns 14,887 shares of the information technology service provider’s stock worth $886,000 after buying an additional 130 shares during the last quarter. Institutional investors own 89.94% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded up 0.09% during midday trading on Monday, hitting $68.89. The company had a trading volume of 2,507,078 shares. The stock’s 50-day moving average price is $66.43 and its 200-day moving average price is $60.07. The company has a market cap of $40.58 billion, a price-to-earnings ratio of 25.06 and a beta of 1.16. Cognizant Technology Solutions Corporation has a 12 month low of $45.44 and a 12 month high of $69.00.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its quarterly earnings data on Friday, May 5th. The information technology service provider reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.09. Cognizant Technology Solutions Corporation had a return on equity of 18.77% and a net margin of 12.07%. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts forecast that Cognizant Technology Solutions Corporation will post $3.67 EPS for the current year.

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A number of analysts recently weighed in on CTSH shares. SunTrust Banks, Inc. upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Thursday, April 13th. Morgan Stanley upped their target price on shares of 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. Needham & Company LLC upped their target price on shares of Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Vetr upgraded shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and set a $67.50 target price on the stock in a research note on Friday, April 14th. Finally, Robert W. Baird upped their target price on shares of Cognizant Technology Solutions Corporation from $70.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, May 8th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $65.41.

In other Cognizant Technology Solutions Corporation news, insider Sean Middleton sold 1,890 shares of the business’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $60.00, for a total transaction of $113,400.00. Following the completion of the transaction, the insider now owns 5,888 shares in the company, valued at approximately $353,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ramakrishna Prasa Chintamaneni sold 5,051 shares of the business’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $68.00, for a total value of $343,468.00. Following the transaction, the insider now owns 20,047 shares of the company’s stock, valued at approximately $1,363,196. The disclosure for this sale can be found here. Insiders have sold a total of 57,256 shares of company stock valued at $3,750,694 in the last 90 days. 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.

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Corporation (NASDAQ:CTSH).

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

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