Cognizant Technology Solutions Corp (CTSH) Shares Bought by Montecito Bank & Trust

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Montecito Bank & Trust lifted its stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 24.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,734 shares of the information technology service provider’s stock after buying an additional 1,114 shares during the quarter. Montecito Bank & Trust’s holdings in Cognizant Technology Solutions were worth $443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rainier Group Investment Advisory LLC purchased a new position in shares of Cognizant Technology Solutions during the first quarter valued at about $100,000. Kaizen Advisory LLC increased its position in shares of Cognizant Technology Solutions by 149.4% during the second quarter. Kaizen Advisory LLC now owns 1,429 shares of the information technology service provider’s stock valued at $113,000 after buying an additional 856 shares during the period. Fort L.P. purchased a new position in shares of Cognizant Technology Solutions during the second quarter valued at about $123,000. San Francisco Sentry Investment Group CA increased its position in shares of Cognizant Technology Solutions by 170.0% during the second quarter. San Francisco Sentry Investment Group CA now owns 1,909 shares of the information technology service provider’s stock valued at $151,000 after buying an additional 1,202 shares during the period. Finally, Parallel Advisors LLC increased its position in shares of Cognizant Technology Solutions by 65.5% during the second quarter. Parallel Advisors LLC now owns 2,226 shares of the information technology service provider’s stock valued at $175,000 after buying an additional 881 shares during the period. Institutional investors own 87.92% of the company’s stock.

CTSH has been the topic of several research reports. BidaskClub raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, June 16th. Zacks Investment Research lowered shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research note on Monday, July 9th. Wolfe Research initiated coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, July 17th. They set a “market perform” rating on the stock. BMO Capital Markets reissued a “buy” rating and set a $85.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, August 2nd. Finally, Cowen reissued a “buy” rating and set a $87.00 price objective on shares of Cognizant Technology Solutions in a research note on Friday, August 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $85.73.

In other news, EVP Allen Shaheen sold 352 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $74.89, for a total value of $26,361.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gajakarnan Vibushanan Kandiah sold 665 shares of the company’s stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $77.60, for a total transaction of $51,604.00. Following the completion of the transaction, the insider now owns 14,683 shares in the company, valued at approximately $1,139,400.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,288 shares of company stock worth $3,694,551. Insiders own 0.60% of the company’s stock.

Shares of NASDAQ CTSH opened at $72.17 on Friday. The company has a market capitalization of $44.76 billion, a PE ratio of 20.44, a PEG ratio of 1.42 and a beta of 0.90. Cognizant Technology Solutions Corp has a 52-week low of $69.69 and a 52-week high of $85.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.27 and a current ratio of 3.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Thursday, August 2nd. The information technology service provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.09. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.03 billion. Cognizant Technology Solutions had a net margin of 9.37% and a return on equity of 21.66%. The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.93 earnings per share. On average, research analysts anticipate that Cognizant Technology Solutions Corp will post 4.18 earnings per share for the current year.

Cognizant Technology Solutions Company Profile

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 business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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

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