Amundi Pioneer Asset Management Inc. reduced its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 57.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,442,383 shares of the information technology service provider’s stock after selling 1,964,611 shares during the quarter. Amundi Pioneer Asset Management Inc. owned 0.25% of Cognizant Technology Solutions worth $104,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. FMR LLC increased its position in shares of Cognizant Technology Solutions by 21.9% during the first quarter. FMR LLC now owns 15,767,608 shares of the information technology service provider’s stock worth $1,142,362,000 after acquiring an additional 2,827,833 shares during the period. Horizon Investments LLC acquired a new position in Cognizant Technology Solutions in the first quarter valued at $215,000. Advisory Services Network LLC boosted its stake in Cognizant Technology Solutions by 23.4% in the first quarter. Advisory Services Network LLC now owns 8,918 shares of the information technology service provider’s stock valued at $647,000 after acquiring an additional 1,694 shares in the last quarter. Allstate Corp boosted its stake in Cognizant Technology Solutions by 15.4% in the first quarter. Allstate Corp now owns 46,955 shares of the information technology service provider’s stock valued at $3,402,000 after acquiring an additional 6,258 shares in the last quarter. Finally, Cerebellum GP LLC boosted its stake in Cognizant Technology Solutions by 102.2% in the first quarter. Cerebellum GP LLC now owns 4,730 shares of the information technology service provider’s stock valued at $343,000 after acquiring an additional 2,391 shares in the last quarter. 89.31% of the stock is currently owned by hedge funds and other institutional investors.
CTSH stock traded up $0.69 on Thursday, hitting $65.93. 1,956,392 shares of the company’s stock traded hands, compared to its average volume of 4,706,205. Cognizant Technology Solutions Corp has a 1-year low of $56.73 and a 1-year high of $83.30. The firm has a market cap of $37.21 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.67 and a beta of 1.01. The stock’s fifty day moving average is $63.54. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.90 and a current ratio of 2.90.
In other Cognizant Technology Solutions news, SVP Robert Telesmanic sold 3,343 shares of the company’s 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 transaction, the senior vice president now owns 7,337 shares in the company, valued at approximately $440,220. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Matthew W. Friedrich sold 3,092 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $60.61, for a total transaction of $187,406.12. The disclosure for this sale can be found here. Insiders have sold 47,120 shares of company stock worth $2,960,866 in the last 90 days. 0.56% of the stock is owned by company insiders.
A number of equities research analysts recently commented on CTSH shares. Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Bank of America raised shares of Esperion Therapeutics from an “underperform” rating to a “neutral” rating in a research note on Monday, May 6th. Daiwa Capital Markets cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Argus assumed coverage on shares of Pinterest in a research note on Friday, May 10th. They issued a “hold” rating for the company. Finally, Goldman Sachs Group raised shares of Puxin from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $51.00 to $56.00 in a research note on Friday, May 3rd. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $74.80.
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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