JGP Wealth Management LLC Sells 874 Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH)

JGP Wealth Management LLC cut its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 2.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,664 shares of the information technology service provider’s stock after selling 874 shares during the period. JGP Wealth Management LLC’s holdings in Cognizant Technology Solutions were worth $2,437,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. North Star Investment Management Corp. acquired a new position in Cognizant Technology Solutions during the third quarter worth about $25,000. Field & Main Bank boosted its holdings in Cognizant Technology Solutions by 350.0% in the 2nd quarter. Field & Main Bank now owns 450 shares of the information technology service provider’s stock valued at $29,000 after purchasing an additional 350 shares during the last quarter. Berman Capital Advisors LLC boosted its holdings in Cognizant Technology Solutions by 137.7% in the 2nd quarter. Berman Capital Advisors LLC now owns 637 shares of the information technology service provider’s stock valued at $40,000 after purchasing an additional 369 shares during the last quarter. Citizens Financial Group Inc RI boosted its holdings in Cognizant Technology Solutions by 35.3% in the 2nd quarter. Citizens Financial Group Inc RI now owns 716 shares of the information technology service provider’s stock valued at $46,000 after purchasing an additional 187 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC boosted its holdings in Cognizant Technology Solutions by 52.7% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 892 shares of the information technology service provider’s stock valued at $57,000 after purchasing an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 91.61% of the company’s stock.

In related news, EVP Allen Shaheen sold 1,091 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $62.14, for a total value of $67,794.74. Following the transaction, the executive vice president now owns 2,010 shares in the company, valued at $124,901.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Matthew W. Friedrich sold 452 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $64.29, for a total transaction of $29,059.08. The disclosure for this sale can be found here. Insiders sold 18,823 shares of company stock worth $1,169,337 over the last three months. Corporate insiders own 0.56% of the company’s stock.

Shares of CTSH traded up $0.15 during mid-day trading on Friday, hitting $60.66. The company had a trading volume of 8,702 shares, compared to its average volume of 2,831,630. The business’s 50-day simple moving average is $61.51 and its 200-day simple moving average is $63.64. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.13. Cognizant Technology Solutions Corp has a 1-year low of $56.73 and a 1-year high of $74.85. The stock has a market cap of $33.33 billion, a PE ratio of 15.04, a P/E/G ratio of 1.39 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. Cognizant Technology Solutions had a net margin of 12.61% and a return on equity of 20.52%. The business had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period last year, the company earned $1.05 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts expect that Cognizant Technology Solutions Corp will post 3.96 earnings per share for the current year.

CTSH has been the topic of several recent analyst reports. TheStreet upgraded shares of Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a report on Tuesday, July 23rd. Robert W. Baird set a $76.00 target price on shares of Cognizant Technology Solutions and gave the company a “buy” rating in a report on Friday, September 6th. BidaskClub lowered shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a report on Friday, October 11th. Zacks Investment Research lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $66.00 target price on the stock. in a report on Thursday, September 5th. Finally, Credit Suisse Group decreased their target price on shares of Cognizant Technology Solutions from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Monday, September 23rd. Six research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $72.50.

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

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