Cognizant Technology Solutions Corp (NASDAQ:CTSH) Shares Sold by FDx Advisors Inc.

FDx Advisors Inc. decreased its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 36.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,992 shares of the information technology service provider’s stock after selling 4,622 shares during the quarter. FDx Advisors Inc.’s holdings in Cognizant Technology Solutions were worth $454,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter worth $364,997,000. Invesco Ltd. increased its stake in Cognizant Technology Solutions by 24.3% during the 1st quarter. Invesco Ltd. now owns 13,116,889 shares of the information technology service provider’s stock worth $609,542,000 after buying an additional 2,568,186 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in Cognizant Technology Solutions by 124.3% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 3,377,773 shares of the information technology service provider’s stock worth $156,965,000 after buying an additional 1,871,967 shares in the last quarter. Mawer Investment Management Ltd. acquired a new position in Cognizant Technology Solutions in the 1st quarter worth $79,631,000. Finally, Yacktman Asset Management LP boosted its position in Cognizant Technology Solutions by 58.6% in the 1st quarter. Yacktman Asset Management LP now owns 4,292,640 shares of the information technology service provider’s stock valued at $199,479,000 after buying an additional 1,586,618 shares during the last quarter. 90.22% of the stock is owned by institutional investors.

Shares of CTSH stock opened at $61.80 on Friday. The company has a market cap of $33.41 billion, a P/E ratio of 15.26, a PEG ratio of 1.68 and a beta of 1.15. The business has a 50 day moving average of $56.65 and a two-hundred day moving average of $56.85. Cognizant Technology Solutions Corp has a 52 week low of $40.01 and a 52 week high of $71.48. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.30.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Thursday, May 7th. The information technology service provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. Cognizant Technology Solutions had a return on equity of 20.90% and a net margin of 10.46%. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the business posted $0.91 EPS. The business’s revenue was up 2.8% on a year-over-year basis. Analysts expect that Cognizant Technology Solutions Corp will post 3.32 EPS for the current fiscal year.

In other news, General Counsel Matthew W. Friedrich sold 459 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $54.62, for a total transaction of $25,070.58. Following the completion of the transaction, the general counsel now directly owns 1,072 shares in the company, valued at $58,552.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Matthew W. Friedrich sold 3,153 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $54.83, for a total value of $172,878.99. The disclosure for this sale can be found here. Insiders sold 5,794 shares of company stock worth $318,107 over the last ninety days. 0.31% of the stock is owned by corporate insiders.

Several research analysts recently commented on the company. Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $49.00 to $60.00 in a research note on Wednesday, June 10th. Wells Fargo & Co upped their target price on Cognizant Technology Solutions from $62.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, July 21st. Royal Bank of Canada raised their price target on shares of Cognizant Technology Solutions from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Needham & Company LLC reaffirmed a “sell” rating on shares of Cognizant Technology Solutions in a report on Thursday, April 9th. Finally, Robert W. Baird increased their price objective on shares of Cognizant Technology Solutions from $50.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, April 13th. Seven equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus target price of $63.76.

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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