Cognizant Technology Solutions Corporation (CTSH) Shares Bought by Trust Co. of Vermont

Trust Co. of Vermont increased its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 26.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,212 shares of the information technology service provider’s stock after buying an additional 4,405 shares during the period. Trust Co. of Vermont’s holdings in Cognizant Technology Solutions Corporation were worth $1,409,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. increased its position in Cognizant Technology Solutions Corporation by 0.5% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 122,495 shares of the information technology service provider’s stock valued at $6,863,000 after buying an additional 615 shares during the period. RMB Capital Management LLC increased its position in Cognizant Technology Solutions Corporation by 17.7% in the fourth quarter. RMB Capital Management LLC now owns 423,805 shares of the information technology service provider’s stock valued at $23,746,000 after buying an additional 63,764 shares during the period. Hudson Bay Capital Management LP bought a new position in Cognizant Technology Solutions Corporation during the fourth quarter valued at approximately $18,210,000. HighPoint Advisor Group LLC bought a new position in Cognizant Technology Solutions Corporation during the fourth quarter valued at approximately $669,000. Finally, M Holdings Securities Inc. increased its position in Cognizant Technology Solutions Corporation by 62.3% in the fourth quarter. M Holdings Securities Inc. now owns 16,825 shares of the information technology service provider’s stock valued at $943,000 after buying an additional 6,458 shares during the period. 89.21% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 70.61 on Friday. The stock has a 50 day moving average of $68.68 and a 200-day moving average of $62.67. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $71.57. The company has a market capitalization of $41.70 billion, a PE ratio of 22.65 and a beta of 1.17.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.11. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. Cognizant Technology Solutions Corporation’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 EPS. Equities analysts expect that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.60 dividend on an annualized basis and a yield of 0.85%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 19.17%.

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Several equities analysts have recently commented on CTSH shares. Vetr downgraded shares of Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating and set a $67.50 target price on the stock. in a report on Monday, May 1st. Cantor Fitzgerald reissued a “buy” rating and issued a $67.00 target price on shares of Cognizant Technology Solutions Corporation in a report on Friday, May 5th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price (up previously from $65.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, May 5th. Credit Suisse Group set a $70.00 target price on shares of Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a report on Saturday, May 6th. Finally, Morgan Stanley upped their price target on shares of Cognizant Technology Solutions Corporation from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, May 8th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $70.02.

In other news, Director Maureen Breakiron-Evans sold 12,368 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $69.70, for a total transaction of $862,049.60. Following the completion of the transaction, the director now directly owns 1,075 shares of the company’s stock, valued at $74,927.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Allen Shaheen sold 4,186 shares of the business’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $67.56, for a total value of $282,806.16. Following the transaction, the executive vice president now directly owns 442 shares of the company’s stock, valued at $29,861.52. The disclosure for this sale can be found here. Insiders have sold 77,528 shares of company stock worth $5,306,449 over the last quarter. Insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corporation Company 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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