Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by JLB & Associates Inc.

JLB & Associates Inc. lessened its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 1.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 142,072 shares of the information technology service provider’s stock after selling 1,799 shares during the quarter. Cognizant Technology Solutions accounts for 1.8% of JLB & Associates Inc.’s portfolio, making the stock its 25th largest position. JLB & Associates Inc.’s holdings in Cognizant Technology Solutions were worth $9,862,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Macquarie Group Ltd. grew its position in shares of Cognizant Technology Solutions by 15,034.7% during the second quarter. Macquarie Group Ltd. now owns 11,817,666 shares of the information technology service provider’s stock worth $671,480,000 after buying an additional 11,739,583 shares in the last quarter. Nordea Investment Management AB lifted its stake in Cognizant Technology Solutions by 94.1% during the second quarter. Nordea Investment Management AB now owns 17,199,972 shares of the information technology service provider’s stock worth $985,042,000 after purchasing an additional 8,336,747 shares during the last quarter. BlackRock Inc. boosted its holdings in Cognizant Technology Solutions by 4.2% in the second quarter. BlackRock Inc. now owns 54,466,896 shares of the information technology service provider’s stock worth $3,094,810,000 after purchasing an additional 2,189,245 shares during the period. Bank of New York Mellon Corp boosted its holdings in Cognizant Technology Solutions by 8.9% in the second quarter. Bank of New York Mellon Corp now owns 21,926,978 shares of the information technology service provider’s stock worth $1,245,892,000 after purchasing an additional 1,789,430 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Cognizant Technology Solutions by 39.9% during the second quarter. Goldman Sachs Group Inc. now owns 4,429,613 shares of the information technology service provider’s stock valued at $251,691,000 after purchasing an additional 1,262,365 shares during the last quarter. Institutional investors own 89.68% of the company’s stock.

Several research firms have recently commented on CTSH. BofA Securities raised shares of Cognizant Technology Solutions from a “neutral” rating to a “buy” rating and lifted their price target for the company from $67.00 to $76.00 in a report on Friday, September 11th. Needham & Company LLC upgraded Cognizant Technology Solutions from an “underperform” rating to a “hold” rating in a research note on Thursday, July 30th. 140166 upgraded Cognizant Technology Solutions from a “neutral” rating to a “positive” rating and set a $87.00 price target on the stock in a research report on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on Cognizant Technology Solutions from $60.00 to $68.00 and gave the company a “hold” rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company increased their target price on Cognizant Technology Solutions from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $68.76.

NASDAQ:CTSH traded down $0.36 during midday trading on Friday, hitting $73.36. 2,533,193 shares of the stock were exchanged, compared to its average volume of 3,707,312. The company has a market capitalization of $39.78 billion, a price-to-earnings ratio of 24.78, a P/E/G ratio of 1.91 and a beta of 1.17. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.22. Cognizant Technology Solutions Co. has a one year low of $40.01 and a one year high of $75.32. The business has a 50-day moving average price of $69.09 and a two-hundred day moving average price of $60.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, July 29th. The information technology service provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.14. Cognizant Technology Solutions had a return on equity of 19.87% and a net margin of 9.67%. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same period last year, the firm earned $0.94 EPS. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. Sell-side analysts forecast that Cognizant Technology Solutions Co. will post 3.55 EPS for the current fiscal year.

In other Cognizant Technology Solutions news, insider Dharmendra Kumar Sinha sold 25,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $68.33, for a total value of $1,708,250.00. Following the transaction, the insider now owns 42,440 shares in the company, valued at $2,899,925.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Robert Telesmanic sold 812 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $67.50, for a total transaction of $54,810.00. Following the completion of the transaction, the senior vice president now owns 9,684 shares in the company, valued at approximately $653,670. The disclosure for this sale can be found here. Insiders sold a total of 66,314 shares of company stock valued at $4,591,790 over the last three months. 0.31% of the stock is owned by corporate insiders.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.

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

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