Strs Ohio Trims Position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Strs Ohio decreased its holdings in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 15.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 321,915 shares of the information technology service provider’s stock after selling 60,204 shares during the period. Strs Ohio owned approximately 0.05% of Cognizant Technology Solutions Corporation worth $23,351,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Cognizant Technology Solutions Corporation by 3,470.1% in the 1st 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 increased its position in Cognizant Technology Solutions Corporation by 81.6% in the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock valued at $1,664,366,000 after buying an additional 11,262,360 shares in the last quarter. Thrivent Financial For Lutherans increased its position in Cognizant Technology Solutions Corporation by 11,666.2% in the 1st quarter. Thrivent Financial For Lutherans now owns 2,468,550 shares of the information technology service provider’s stock valued at $146,928,000 after buying an additional 2,447,570 shares in the last quarter. SRS Investment Management LLC bought a new stake in Cognizant Technology Solutions Corporation in the 1st quarter valued at about $134,797,000. Finally, Comgest Global Investors S.A.S. increased its position in Cognizant Technology Solutions Corporation by 57.7% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock valued at $395,400,000 after buying an additional 2,178,800 shares in the last quarter. Institutional investors own 87.42% of the company’s stock.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up $0.32 on Friday, hitting $74.26. 2,591,800 shares of the company were exchanged, compared to its average volume of 4,007,893. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. Cognizant Technology Solutions Corporation has a 52 week low of $51.35 and a 52 week high of $76.51. The stock has a market cap of $43,598.36, a PE ratio of 22.07, a price-to-earnings-growth ratio of 1.67 and a beta of 1.10.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions Corporation had a net margin of 13.42% and a return on equity of 18.94%. The company had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the firm posted $0.86 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. equities research analysts anticipate that Cognizant Technology Solutions Corporation will post 3.35 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 20th will be paid a $0.15 dividend. The ex-dividend date is Friday, November 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.81%. Cognizant Technology Solutions Corporation’s payout ratio is currently 18.52%.

In related news, President Rajeev Mehta sold 34,437 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $72.54, for a total transaction of $2,498,059.98. Following the sale, the president now owns 170,063 shares in the company, valued at $12,336,370.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the transaction, the insider now directly owns 360,856 shares in the company, valued at $25,259,920. The disclosure for this sale can be found here. Insiders sold 269,880 shares of company stock worth $19,423,948 in the last quarter. Company insiders own 1.08% of the company’s stock.

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A number of analysts recently commented on CTSH shares. Zacks Investment Research raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Tuesday, October 10th. Robert W. Baird boosted their price objective on Cognizant Technology Solutions Corporation from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, October 19th. Bank of America Corporation reissued a “buy” rating and set a $86.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Tuesday, September 12th. SunTrust Banks, Inc. reissued a “buy” rating and set a $85.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Friday, November 3rd. Finally, KeyCorp restated a “buy” rating and issued a $79.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Friday, September 8th. Five analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $81.19.

About Cognizant Technology Solutions Corporation

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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