Teachers Retirement System of The State of Kentucky Sells 1,616 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Teachers Retirement System of The State of Kentucky reduced its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,143 shares of the information technology service provider’s stock after selling 1,616 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Cognizant Technology Solutions were worth $3,331,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CTSH. Cornerstone Advisory LLC bought a new position in shares of Cognizant Technology Solutions during the fourth quarter worth about $27,000. Hardy Reed LLC acquired a new stake in shares of Cognizant Technology Solutions in the first quarter valued at approximately $27,000. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Cognizant Technology Solutions by 1,433.3% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 460 shares of the information technology service provider’s stock valued at $41,000 after buying an additional 430 shares during the last quarter. AdvisorNet Financial Inc increased its stake in shares of Cognizant Technology Solutions by 44.4% during the first quarter. AdvisorNet Financial Inc now owns 478 shares of the information technology service provider’s stock worth $43,000 after purchasing an additional 147 shares during the period. Finally, Valley National Advisers Inc. increased its stake in shares of Cognizant Technology Solutions by 101.3% during the first quarter. Valley National Advisers Inc. now owns 481 shares of the information technology service provider’s stock worth $43,000 after purchasing an additional 242 shares during the period. 90.67% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Up 1.6 %

Shares of NASDAQ:CTSH opened at $63.21 on Tuesday. The stock’s 50-day moving average price is $66.40 and its 200-day moving average price is $74.55. Cognizant Technology Solutions Co. has a 12-month low of $60.84 and a 12-month high of $93.47. The stock has a market capitalization of $32.73 billion, a P/E ratio of 14.67, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.05.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last posted its earnings results on Wednesday, July 27th. The information technology service provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. The company had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. Cognizant Technology Solutions had a net margin of 11.74% and a return on equity of 19.36%. Cognizant Technology Solutions’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. On average, equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.55 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 30th. Stockholders of record on Friday, August 19th were issued a dividend of $0.27 per share. The ex-dividend date was Thursday, August 18th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.71%. Cognizant Technology Solutions’s dividend payout ratio is currently 25.06%.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, Director Zein Abdalla sold 4,368 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $65.44, for a total value of $285,841.92. Following the completion of the sale, the director now directly owns 13,556 shares in the company, valued at $887,104.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CTSH has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $82.00 to $77.00 in a research note on Thursday, July 28th. Susquehanna Bancshares cut their target price on Cognizant Technology Solutions from $100.00 to $98.00 in a report on Thursday, July 28th. HSBC downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating and cut their target price for the stock from $90.00 to $79.00 in a report on Wednesday, August 17th. Citigroup dropped their price objective on Cognizant Technology Solutions from $88.00 to $77.00 in a research note on Thursday, July 28th. Finally, Cowen lowered Cognizant Technology Solutions to a “market perform” rating and decreased their target price for the company from $86.00 to $75.00 in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $83.63.

About Cognizant Technology Solutions

(Get Rating)

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.

See Also

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating).

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

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.