Public Employees Retirement Association of Colorado Buys 60,086 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Public Employees Retirement Association of Colorado boosted its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report) by 373.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 76,159 shares of the information technology service provider’s stock after buying an additional 60,086 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Cognizant Technology Solutions were worth $5,752,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CTSH. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter worth about $26,000. NBC Securities Inc. purchased a new stake in shares of Cognizant Technology Solutions during the third quarter valued at $27,000. Spire Wealth Management grew its holdings in shares of Cognizant Technology Solutions by 79.1% in the fourth quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 193 shares during the last quarter. Valley National Advisers Inc. increased its stake in Cognizant Technology Solutions by 43.2% in the 4th quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock worth $44,000 after buying an additional 178 shares during the period. Finally, Bruce G. Allen Investments LLC bought a new stake in Cognizant Technology Solutions during the 4th quarter valued at about $52,000. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Down 0.6 %

Shares of CTSH stock opened at $65.94 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. Cognizant Technology Solutions Co. has a fifty-two week low of $61.23 and a fifty-two week high of $80.09. The firm has a market capitalization of $32.79 billion, a PE ratio of 15.85, a P/E/G ratio of 1.98 and a beta of 1.04. The stock’s 50-day simple moving average is $68.01 and its 200-day simple moving average is $72.73.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The company had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. Cognizant Technology Solutions’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the firm posted $1.11 EPS. Equities analysts expect that Cognizant Technology Solutions Co. will post 4.6 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, May 2nd. Citigroup reduced their price target on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a report on Monday, April 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Barclays reduced their price objective on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average price target of $75.67.

Get Our Latest Stock Analysis on CTSH

Insider Buying and Selling

In related news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the sale, the executive vice president now owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.

About Cognizant Technology Solutions

(Free Report)

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.

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

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