Middleton & Co Inc MA Acquires Shares of 22,470 Cognizant Technology Solutions Corporation (CTSH)

Middleton & Co Inc MA acquired a new stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,470 shares of the information technology service provider’s stock, valued at approximately $1,630,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Cognizant Technology Solutions Corporation by 3,470.1% in the first quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock valued at $2,425,316,000 after purchasing an additional 39,606,526 shares during the period. FMR LLC boosted its stake in shares of Cognizant Technology Solutions Corporation by 81.6% in the second quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock valued at $1,664,366,000 after purchasing an additional 11,262,360 shares during the period. State Street Corp boosted its stake in shares of Cognizant Technology Solutions Corporation by 1.8% in the first quarter. State Street Corp now owns 24,267,262 shares of the information technology service provider’s stock valued at $1,444,391,000 after purchasing an additional 435,142 shares during the period. Pzena Investment Management LLC boosted its stake in shares of Cognizant Technology Solutions Corporation by 4.4% in the second quarter. Pzena Investment Management LLC now owns 7,010,880 shares of the information technology service provider’s stock valued at $465,522,000 after purchasing an additional 296,899 shares during the period. Finally, Swedbank boosted its stake in shares of Cognizant Technology Solutions Corporation by 1.8% in the third quarter. Swedbank now owns 6,621,266 shares of the information technology service provider’s stock valued at $480,307,000 after purchasing an additional 116,263 shares during the period. 87.35% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently commented on CTSH shares. Zacks Investment Research raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Tuesday, October 10th. Robert W. Baird raised their price objective on shares of Cognizant Technology Solutions Corporation from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, October 19th. Bank of America Corporation reissued a “buy” rating and issued a $86.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Tuesday, September 12th. KeyCorp reissued a “buy” rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Friday, September 8th. Finally, Cowen and Company reissued a “buy” rating and issued a $75.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Friday, July 28th. Four analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $80.11.

In related news, EVP Allen Shaheen sold 442 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $70.58, for a total transaction of $31,196.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Venkat Krishnaswamy sold 8,151 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $70.93, for a total value of $578,150.43. Following the sale, the insider now directly owns 9,429 shares in the company, valued at $668,798.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 281,758 shares of company stock worth $20,158,801. Corporate insiders own 1.08% of the company’s stock.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.13. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. Cognizant Technology Solutions Corporation had a return on equity of 18.94% and a net margin of 13.42%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 EPS.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, November 20th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of Infinity. The ex-dividend date of this dividend is Friday, November 17th. Cognizant Technology Solutions Corporation’s dividend payout ratio is currently 18.52%.

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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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