Koch Industries Inc. Takes Position in Cognizant Technology Solutions Corporation (CTSH)

Koch Industries Inc. purchased a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 873,706 shares of the information technology service provider’s stock, valued at approximately $861,000. Koch Industries Inc. owned approximately 0.15% of Cognizant Technology Solutions Corporation at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Cornerstone Advisors Inc. raised its stake in Cognizant Technology Solutions Corporation by 0.3% in the second quarter. Cornerstone Advisors Inc. now owns 3,633 shares of the information technology service provider’s stock valued at $241,000 after buying an additional 11 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake in Cognizant Technology Solutions Corporation by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock valued at $140,000 after buying an additional 27 shares in the last quarter. First Capital Advisors Group LLC. raised its stake in Cognizant Technology Solutions Corporation by 0.9% in the second quarter. First Capital Advisors Group LLC. now owns 3,676 shares of the information technology service provider’s stock valued at $244,000 after buying an additional 32 shares in the last quarter. Comerica Securities Inc. raised its stake in Cognizant Technology Solutions Corporation by 0.4% in the second quarter. Comerica Securities Inc. now owns 7,810 shares of the information technology service provider’s stock valued at $519,000 after buying an additional 32 shares in the last quarter. Finally, CENTRAL TRUST Co raised its stake in Cognizant Technology Solutions Corporation by 0.5% in the second quarter. CENTRAL TRUST Co now owns 6,403 shares of the information technology service provider’s stock valued at $425,000 after buying an additional 35 shares in the last quarter. Institutional investors own 87.60% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded up 0.223% during midday trading on Friday, reaching $74.255. The company’s stock had a trading volume of 603,835 shares. The stock has a 50 day moving average of $71.89 and a 200-day moving average of $67.02. The company has a market capitalization of $43.86 billion, a P/E ratio of 23.823 and a beta of 1.12. Cognizant Technology Solutions Corporation has a 1-year low of $49.35 and a 1-year high of $74.77.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter last year, the business earned $0.87 earnings per share. Cognizant Technology Solutions Corporation’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.

In other news, insider Debashis Chatterjee sold 3,452 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $69.50, for a total value of $239,914.00. Following the completion of the transaction, the insider now directly owns 42,628 shares in the company, valued at $2,962,646. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allen Shaheen sold 442 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $70.58, for a total transaction of $31,196.36. The disclosure for this sale can be found here. Insiders sold 289,514 shares of company stock worth $20,680,893 in the last 90 days. 1.08% of the stock is owned by company insiders.

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A number of analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $78.00 price target (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, August 9th. Berenberg Bank upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and raised their price target for the company from $65.00 to $85.00 in a research note on Tuesday, August 8th. Jefferies Group LLC restated a “buy” rating and issued a $81.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Thursday. Zacks Investment Research cut Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, KeyCorp restated a “buy” rating and issued a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Thursday. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $73.66.

Cognizant Technology Solutions Corporation Profile

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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