Fulton Bank N.A. Raises Holdings in Cognizant Technology Solutions Corporation (CTSH)

Fulton Bank N.A. boosted its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,833 shares of the information technology service provider’s stock after buying an additional 1,410 shares during the quarter. Fulton Bank N.A.’s holdings in Cognizant Technology Solutions Corporation were worth $1,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Eqis Capital Management Inc. boosted its stake in Cognizant Technology Solutions Corporation by 12.0% in the third quarter. Eqis Capital Management Inc. now owns 10,695 shares of the information technology service provider’s stock worth $776,000 after buying an additional 1,145 shares in the last quarter. Perpetual Ltd purchased a new stake in Cognizant Technology Solutions Corporation in the second quarter worth approximately $4,171,000. Intl Fcstone Inc. purchased a new stake in Cognizant Technology Solutions Corporation in the second quarter worth approximately $250,000. Gs Investments Inc. purchased a new stake in Cognizant Technology Solutions Corporation in the second quarter worth approximately $2,337,000. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Cognizant Technology Solutions Corporation during the second quarter valued at approximately $2,390,000. 87.56% of the stock is owned by institutional investors and hedge funds.

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In other Cognizant Technology Solutions Corporation news, insider Debashis Chatterjee sold 3,452 shares of the company’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $69.50, for a total value of $239,914.00. Following the completion of the sale, the insider now directly owns 42,628 shares in the company, valued at approximately $2,962,646. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Allen Shaheen sold 442 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $70.58, for a total value of $31,196.36. The disclosure for this sale can be found here. Insiders sold a total of 284,547 shares of company stock valued at $20,335,827 over the last quarter. Company insiders own 1.08% of the company’s stock.

CTSH has been the subject of a number of analyst reports. Zacks Investment Research raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Tuesday, October 10th. Bank of America Corporation reissued a “buy” rating and set a $86.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Tuesday, September 12th. KeyCorp reissued a “buy” rating and set a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Friday, September 8th. Cowen and Company reissued a “buy” rating and set a $75.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Friday, July 28th. Finally, Vetr raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $71.62 price objective for the company in a research note on Wednesday, August 2nd. Four equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $73.66.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded down 0.18% during trading on Wednesday, reaching $73.84. The company’s stock had a trading volume of 604,201 shares. The firm’s 50-day moving average price is $72.09 and its 200 day moving average price is $67.25. The company has a market capitalization of $43.61 billion, a P/E ratio of 23.69 and a beta of 1.12. Cognizant Technology Solutions Corporation has a 12-month low of $49.35 and a 12-month high of $74.77.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the prior year, the business earned $0.87 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, analysts predict that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

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.

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

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