Strs Ohio Buys 2,333 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Strs Ohio increased its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 67,823 shares of the information technology service provider’s stock after purchasing an additional 2,333 shares during the quarter. Strs Ohio’s holdings in Cognizant Technology Solutions were worth $5,122,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vontobel Holding Ltd. raised its holdings in shares of Cognizant Technology Solutions by 3.9% in the 4th quarter. Vontobel Holding Ltd. now owns 362,929 shares of the information technology service provider’s stock worth $27,412,000 after purchasing an additional 13,495 shares during the period. Louisiana State Employees Retirement System bought a new stake in Cognizant Technology Solutions during the 4th quarter valued at $5,295,000. Simplicity Solutions LLC raised its holdings in Cognizant Technology Solutions by 4.4% during the 4th quarter. Simplicity Solutions LLC now owns 6,185 shares of the information technology service provider’s stock valued at $467,000 after acquiring an additional 259 shares during the period. AlphaQ Advisors LLC raised its holdings in Cognizant Technology Solutions by 29.4% during the 4th quarter. AlphaQ Advisors LLC now owns 6,323 shares of the information technology service provider’s stock valued at $478,000 after acquiring an additional 1,436 shares during the period. Finally, Perigon Wealth Management LLC raised its holdings in Cognizant Technology Solutions by 4.4% during the 4th quarter. Perigon Wealth Management LLC now owns 4,743 shares of the information technology service provider’s stock valued at $358,000 after acquiring an additional 199 shares during the period. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 0.6 %

Shares of NASDAQ:CTSH opened at $67.13 on Friday. Cognizant Technology Solutions Co. has a 52-week low of $58.09 and a 52-week high of $80.09. The firm has a fifty day moving average of $74.64 and a 200 day moving average of $72.51. The firm has a market capitalization of $33.42 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.25 and a current ratio of 2.25.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.14. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The company had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.76 billion. During the same period in the previous year, the business earned $1.01 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.6 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were given a $0.30 dividend. The ex-dividend date was Friday, February 16th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a yield of 1.79%. Cognizant Technology Solutions’s payout ratio is 28.57%.

Insider Buying and Selling

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of the sale, the executive vice president now directly owns 8,312 shares in the company, valued at $640,522.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays boosted their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, January 23rd. Citigroup boosted their target price on shares of Cognizant Technology Solutions from $76.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Susquehanna reissued a “neutral” rating and set a $80.00 target price (down previously from $87.00) on shares of Cognizant Technology Solutions in a report on Monday, April 1st. Wolfe Research raised shares of Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Finally, Guggenheim started coverage on shares of Cognizant Technology Solutions in a report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $75.65.

Cognizant Technology Solutions Company 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.