Neuberger Berman Group LLC Trims Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Neuberger Berman Group LLC lowered its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 10.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,845,191 shares of the information technology service provider’s stock after selling 209,621 shares during the period. Neuberger Berman Group LLC owned 0.35% of Cognizant Technology Solutions worth $127,528,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. grew its stake in shares of Cognizant Technology Solutions by 8.0% in the 1st quarter. Ameriprise Financial Inc. now owns 1,018,777 shares of the information technology service provider’s stock worth $79,585,000 after buying an additional 75,065 shares during the last quarter. National Pension Service grew its stake in shares of Cognizant Technology Solutions by 3.9% in the 1st quarter. National Pension Service now owns 831,811 shares of the information technology service provider’s stock worth $64,981,000 after buying an additional 31,576 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Cognizant Technology Solutions in the 2nd quarter worth approximately $3,165,000. Envestnet Asset Management Inc. grew its stake in shares of Cognizant Technology Solutions by 4.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 999,939 shares of the information technology service provider’s stock worth $69,256,000 after buying an additional 45,414 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Cognizant Technology Solutions by 11.9% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 21,482 shares of the information technology service provider’s stock worth $1,678,000 after buying an additional 2,280 shares during the last quarter. Institutional investors own 89.04% of the company’s stock.

In other news, EVP Becky Schmitt sold 2,696 shares of the company’s stock in a transaction on Friday, October 1st. The stock was sold at an average price of $74.63, for a total value of $201,202.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.31% of the company’s stock.

NASDAQ:CTSH opened at $75.63 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a market capitalization of $39.75 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth ratio of 1.71 and a beta of 1.15. Cognizant Technology Solutions Co. has a one year low of $66.19 and a one year high of $82.73. The business has a fifty day moving average price of $75.95 and a 200-day moving average price of $74.26.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Tuesday, July 27th. The information technology service provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.96 by $0.03. The firm had revenue of $4.59 billion during the quarter, compared to analyst estimates of $4.45 billion. Cognizant Technology Solutions had a return on equity of 17.41% and a net margin of 9.65%. On average, equities research analysts expect that Cognizant Technology Solutions Co. will post 4.04 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 31st. Stockholders of record on Friday, August 20th were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, August 19th. This represents a $0.96 annualized dividend and a dividend yield of 1.27%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.07%.

CTSH has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on Cognizant Technology Solutions from $83.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 17th. Susquehanna Bancshares lowered their price objective on Cognizant Technology Solutions from $99.00 to $91.00 and set a “positive” rating on the stock in a research report on Wednesday, June 30th. Wedbush reaffirmed an “outperform” rating on shares of Cognizant Technology Solutions in a research report on Thursday, July 29th. HSBC raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and upped their price objective for the company from $80.00 to $90.00 in a research report on Thursday, July 22nd. Finally, Societe Generale raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research report on Thursday, July 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Cognizant Technology Solutions presently has an average rating of “Buy” and a consensus target price of $83.13.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services; Healthcare; Products and Resources; and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.

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

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