Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. lowered its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 75.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,516 shares of the information technology service provider’s stock after selling 129,473 shares during the quarter. Baird Financial Group Inc.’s holdings in Cognizant Technology Solutions were worth $2,869,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. LaFleur & Godfrey LLC raised its holdings in Cognizant Technology Solutions by 1.9% during the first quarter. LaFleur & Godfrey LLC now owns 7,950 shares of the information technology service provider’s stock worth $713,000 after purchasing an additional 150 shares in the last quarter. Trust Asset Management LLC grew its position in shares of Cognizant Technology Solutions by 2.9% during the first quarter. Trust Asset Management LLC now owns 5,339 shares of the information technology service provider’s stock worth $479,000 after acquiring an additional 150 shares during the last quarter. Capital Planning Advisors LLC grew its position in shares of Cognizant Technology Solutions by 6.0% during the first quarter. Capital Planning Advisors LLC now owns 2,664 shares of the information technology service provider’s stock worth $239,000 after acquiring an additional 150 shares during the last quarter. Zions Bancorporation N.A. grew its position in shares of Cognizant Technology Solutions by 29.9% during the first quarter. Zions Bancorporation N.A. now owns 651 shares of the information technology service provider’s stock worth $58,000 after acquiring an additional 150 shares during the last quarter. Finally, Wealth Alliance grew its position in shares of Cognizant Technology Solutions by 2.2% during the first quarter. Wealth Alliance now owns 6,916 shares of the information technology service provider’s stock worth $620,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CTSH shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Cognizant Technology Solutions from $65.00 to $54.00 in a research report on Thursday, November 3rd. Bank of America lowered shares of Cognizant Technology Solutions from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $81.00 to $68.00 in a research report on Friday, October 21st. Barclays lowered their price objective on shares of Cognizant Technology Solutions from $55.00 to $45.00 and set an “underweight” rating on the stock in a research report on Sunday, November 6th. Jefferies Financial Group lowered their price objective on shares of Cognizant Technology Solutions from $78.00 to $72.00 and set a “hold” rating on the stock in a research report on Wednesday, September 14th. Finally, Royal Bank of Canada lowered shares of Cognizant Technology Solutions from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $78.00 to $66.00 in a research report on Thursday, November 3rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $73.16.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $59.96 on Wednesday. Cognizant Technology Solutions Co. has a one year low of $51.33 and a one year high of $93.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.27 and a current ratio of 2.27. The business has a fifty day moving average of $59.73 and a two-hundred day moving average of $66.02. The company has a market cap of $30.81 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 1.19 and a beta of 1.05.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Friday, November 18th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Thursday, November 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 24.00%.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, Director Leo S. Jr. Mackay sold 3,300 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $52.79, for a total value of $174,207.00. Following the completion of the sale, the director now owns 28,310 shares of the company’s stock, valued at $1,494,484.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Zein Abdalla sold 4,368 shares of Cognizant Technology Solutions stock in a transaction on Friday, September 9th. The stock was sold at an average price of $65.44, for a total transaction of $285,841.92. Following the completion of the transaction, the director now owns 13,556 shares of the company’s stock, valued at approximately $887,104.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Leo S. Jr. Mackay sold 3,300 shares of Cognizant Technology Solutions stock in a transaction on Monday, November 7th. The stock was sold at an average price of $52.79, for a total value of $174,207.00. Following the transaction, the director now directly owns 28,310 shares of the company’s stock, valued at approximately $1,494,484.90. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

About Cognizant Technology Solutions

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Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.

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

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