Kentucky Retirement Systems Sells 2,937 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Kentucky Retirement Systems decreased its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 34,530 shares of the information technology service provider’s stock after selling 2,937 shares during the period. Kentucky Retirement Systems’ holdings in Cognizant Technology Solutions were worth $2,665,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. grew its position in shares of Cognizant Technology Solutions by 5.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,702 shares of the information technology service provider’s stock valued at $418,000 after purchasing an additional 302 shares in the last quarter. Blair William & Co. IL grew its position in Cognizant Technology Solutions by 2.5% during the first quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock worth $1,231,000 after buying an additional 412 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in Cognizant Technology Solutions during the first quarter worth about $563,000. UniSuper Management Pty Ltd raised its holdings in shares of Cognizant Technology Solutions by 26.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 76,304 shares of the information technology service provider’s stock valued at $5,592,000 after acquiring an additional 15,741 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its position in shares of Cognizant Technology Solutions by 7.8% during the 1st quarter. Lake Street Advisors Group LLC now owns 6,878 shares of the information technology service provider’s stock valued at $504,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CTSH shares. Mizuho upped their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Barclays lifted their price objective on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price on the stock. Finally, TD Cowen lifted their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $79.47.

Cognizant Technology Solutions Trading Down 4.5 %

Shares of CTSH opened at $77.11 on Monday. The firm has a fifty day simple moving average of $76.85 and a two-hundred day simple moving average of $72.93. Cognizant Technology Solutions Co. has a twelve month low of $63.79 and a twelve month high of $82.41. The stock has a market capitalization of $38.23 billion, a P/E ratio of 17.06, a PEG ratio of 2.13 and a beta of 1.05. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.10. The company had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. Cognizant Technology Solutions’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm earned $1.16 earnings per share. On average, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.56%. Cognizant Technology Solutions’s dividend payout ratio is 26.55%.

Cognizant Technology Solutions Profile

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, Health Sciences, Products and Resources, and Communications, Media and Technology.