Cognizant Technology Solutions Corporation $CTSH Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC cut its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 4.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 54,773 shares of the information technology service provider’s stock after selling 2,763 shares during the period. Wealthfront Advisers LLC’s holdings in Cognizant Technology Solutions were worth $4,274,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pzena Investment Management LLC raised its position in shares of Cognizant Technology Solutions by 2.2% during the 2nd quarter. Pzena Investment Management LLC now owns 17,450,691 shares of the information technology service provider’s stock worth $1,361,677,000 after purchasing an additional 375,619 shares during the period. Invesco Ltd. grew its stake in Cognizant Technology Solutions by 13.3% during the 1st quarter. Invesco Ltd. now owns 12,077,445 shares of the information technology service provider’s stock worth $923,925,000 after buying an additional 1,422,265 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Cognizant Technology Solutions by 117.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,805,893 shares of the information technology service provider’s stock worth $520,651,000 after buying an additional 3,677,145 shares during the last quarter. Wellington Management Group LLP increased its position in Cognizant Technology Solutions by 9.9% in the first quarter. Wellington Management Group LLP now owns 6,458,318 shares of the information technology service provider’s stock worth $494,061,000 after buying an additional 579,175 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Cognizant Technology Solutions by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 6,029,067 shares of the information technology service provider’s stock valued at $461,169,000 after buying an additional 28,646 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Wall Street Analyst Weigh In

CTSH has been the subject of several recent research reports. Guggenheim restated a “buy” rating and set a $85.00 price target (down previously from $90.00) on shares of Cognizant Technology Solutions in a research report on Tuesday, October 21st. Wells Fargo & Company assumed coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, October 21st. They issued an “overweight” rating and a $82.00 target price for the company. JPMorgan Chase & Co. dropped their price target on shares of Cognizant Technology Solutions from $101.00 to $89.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 20th. Citigroup assumed coverage on Cognizant Technology Solutions in a research report on Thursday, October 23rd. They set a “neutral” rating and a $75.00 price objective for the company. Finally, Evercore ISI assumed coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They issued an “outperform” rating and a $100.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $85.44.

Cognizant Technology Solutions Trading Down 0.3%

Cognizant Technology Solutions stock opened at $67.82 on Wednesday. Cognizant Technology Solutions Corporation has a 12-month low of $65.15 and a 12-month high of $90.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.41 and a quick ratio of 2.41. The stock has a market capitalization of $33.12 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.41 and a beta of 0.95. The firm has a 50 day simple moving average of $68.96 and a 200-day simple moving average of $73.64.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.05. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 11.89%.The firm had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.17 billion. During the same period in the prior year, the firm posted $1.17 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, equities research analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Company Profile

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