Economy

Harbor Spring Capital LLC Lowers Stake in Cognizant Technology Solutions Corporation (CTSH)

BMO Capital Markets maintained Cognizant Technology Solutions Corp (NASDAQ:CTSH) rating on Thursday, August 6. The rating was maintained by Robert W. Baird with "Buy" on Friday, September 8. The firm has "Market Perform" rating by William Blair given on Wednesday, November 23. As per Friday, October 16, the company rating was initiated by Cantor Fitzgerald. The rating was maintained by Barclays Capital on Friday, March 18 with "Overweight". A rating of 3 would signify a consensus Hold recommendation. The rating was upgraded by Goldman Sachs to "Neutral" on Friday, July 21. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider's stock worth $2,425,316,000 after buying an additional 39,606,526 shares during the period. Of the 32 analysts surveyed by Reuters that track CTSH 10 of them rate its stock a hold.

Cognizant Technology Solutions Corporation insiders have sold a net of -356,274 shares during the past three months, which implies that the company's top executives have been feeling bearish about the stock's outlook. The 1-year high was reported on Oct, 3 by Barchart.com. The recent price action of these companies has left many investors wondering what actions to take. About shares traded. LCI Industries (NYSE:LCII) has risen 20.95% since October 3, 2016 and is uptrending.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) operates in the Business Software & Services segment of the Technology sector. It has underperformed by 11.20% the S&P500. Acrospire Investment Management LLC raised its holdings in Cognizant Technology Solutions Corporation by 92.6% during the second quarter.

Among 4 analysts covering Innerworkings (NASDAQ:INWK), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 71% are positive. The stock declined 0.12% or $0.08 reaching $72.46 on the news. Dnb Asset As reported 0% in Cognizant Technology Solutions Corp (NASDAQ:CTSH). Mizuho maintained the stock with "Buy" rating in Friday, October 28 report. Bank of America Corporation reissued a "buy" rating and issued a $86.00 target price on shares of Cognizant Technology Solutions Corporation in a report on Tuesday, September 12th. The rating was downgraded by Macquarie Research on Tuesday, January 24 to "Neutral". More interesting news about Cognizant Technology Solutions Corp (NASDAQ:CTSH) were released by: Seekingalpha.com and their article: "Cognizant Technology Solutions (CTSH) Q1 2017 Results - Earnings Call Transcript" published on May 05, 2017 as well as Seekingalpha.com's news article titled: "Cognizant Technology Solutions (CTSH) Q2 2017 Results - Earnings Call Transcript" with publication date: August 03, 2017. Sii Invests Wi has invested 0.02% in Cognizant Technology Solutions Corp (NASDAQ:CTSH). The firm earned "Buy" rating on Tuesday, August 8 by Berenberg. Robert W. Baird initiated it with "Outperform" rating and $118 target in Wednesday, May 3 report. The stock of Zayo Group Holdings Inc (NYSE:ZAYO) earned "Buy" rating by SunTrust on Tuesday, December 13. CHINTAMANENI RAMAKRISHNA PRASAD also sold $3.19M worth of Cognizant Technology Solutions Corp (NASDAQ:CTSH) on Monday, May 15. Societe Generale cut Cognizant Technology Solutions Corporation from a "buy" rating to a "hold" rating and upped their price target for the company from $68.00 to $74.00 in a research note on Monday, June 5th.

Since April 28, 2017, it had 0 insider buys, and 20 sales for $8.33 million activity. CHATTERJEE DEBASHIS sold 1,524 shares worth $99,060. Edgewood Management LLC now owns 14,706,635 shares of the information technology service provider's stock worth $875,339,000 after buying an additional 557,035 shares during the period. Another trade for 1,890 shares valued at $113,400 was sold by Middleton Sean. 3,069 shares were sold by Veeraraghavachary Srinivasan, worth $199,485. Another trade for 100,000 shares valued at $2.81 million was made by IMMELT JEFFREY R on Monday, May 15. 1,500 shares were sold by Kandiah Gajakarnan Vibushanan, worth $97,985. Insiders sold 287,357 shares of company stock valued at $20,521,043 in the last quarter.

Mirae Asset Global Investments Ltd reported 0.32% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH). Sure, the percentage is encouraging but better times are ahead as looking out over a next 5-year period, analysts expect the company to see its earnings go up by 2.88%, annually. LCII's profit will be $34.65 million for 21.50 P/E if the $1.39 EPS becomes a reality. After posting $0.87 EPS for the previous quarter, Cognizant Technology Solutions Corp's analysts now forecast -2.30 % negative EPS growth.

Cognizant Technology Solutions Corporation is a professional services company. The company has market cap of $869.72 million. CTSH is the cheaper of the two stocks on book value basis but is expensive in terms of P/E and P/S ratio. The Financial Services segment includes clients providing banking/transaction processing, capital markets and insurance services.

Investors sentiment decreased to 0.76 in Q2 2017. Its up 0.21, from 1.33 in 2017Q1. 86 funds opened positions while 205 raised stakes. Following the completion of the transaction, the chief operating officer now owns 24,459 shares in the company, valued at $1,785,507. Hugh Johnson Advisors Llc, a New York-based fund reported 59,882 shares. Martingale Asset Management Ltd Partnership reported 0.06% stake. Parkwood Limited Liability Corporation holds 0.04% or 4,253 shares in its portfolio. State Street Corp lifted its stake in Cognizant Technology Solutions Corporation by 1.8% in the first quarter. New Mexico Educational Retirement Board accumulated 13,308 shares. Royal Bank Of Canada, Ontario - Canada-based fund reported 986,584 shares. If you are reading this report on another domain, it was illegally copied and republished in violation of United States & worldwide trademark and copyright law. 1832 Asset Mgmt L P owns 1.44 million shares or 0.43% of their U.S. portfolio. BidaskClub lowered Cognizant Technology Solutions Corporation from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 10th. Voya Invest Management Ltd Llc accumulated 26,905 shares. Whitnell Co has invested 0.69% in Cognizant Technology Solutions Corp (NASDAQ:CTSH). Etrade Cap Mgmt Lc owns 43,810 shares.

About 322,886 shares traded.



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