California Public Employees Retirement System Has $150.74 Million Holdings in Cognizant Technology Solutions Corporation $CTSH

California Public Employees Retirement System decreased its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 36.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,931,753 shares of the information technology service provider’s stock after selling 1,096,119 shares during the quarter. California Public Employees Retirement System owned 0.40% of Cognizant Technology Solutions worth $150,735,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Cognizant Technology Solutions in the 2nd quarter valued at about $487,526,000. Amundi boosted its stake in Cognizant Technology Solutions by 61.6% during the 1st quarter. Amundi now owns 4,519,912 shares of the information technology service provider’s stock worth $331,584,000 after acquiring an additional 1,723,335 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in Cognizant Technology Solutions by 152.7% during the second quarter. Allianz Asset Management GmbH now owns 2,708,349 shares of the information technology service provider’s stock valued at $211,332,000 after purchasing an additional 1,636,636 shares during the period. Nuveen LLC bought a new stake in Cognizant Technology Solutions in the first quarter valued at approximately $90,194,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Cognizant Technology Solutions in the second quarter valued at approximately $74,917,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

CTSH opened at $80.72 on Monday. The company has a market capitalization of $38.96 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 1.65 and a beta of 0.97. The business’s 50-day moving average price is $71.46 and its two-hundred day moving average price is $73.48. Cognizant Technology Solutions Corporation has a 1 year low of $65.15 and a 1 year high of $90.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.36 and a quick ratio of 2.36.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.09. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same period last year, the company earned $1.25 earnings per share. Cognizant Technology Solutions’s quarterly revenue was up 7.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Equities analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Tuesday, November 18th were issued a $0.31 dividend. The ex-dividend date was Tuesday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.5%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.77%.

Insider Activity at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 2,500 shares of the stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $75.18, for a total transaction of $187,950.00. Following the completion of the transaction, the chief accounting officer owned 36,630 shares in the company, valued at approximately $2,753,843.40. This represents a 6.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CTSH shares. Royal Bank Of Canada decreased their price target on shares of Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating for the company in a report on Thursday, October 30th. Guggenheim reiterated a “buy” rating and set a $85.00 target price (down from $90.00) on shares of Cognizant Technology Solutions in a report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Cognizant Technology Solutions in a research note on Monday, December 1st. William Blair raised Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research report on Friday, November 21st. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $84.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday, October 29th. Seven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $85.19.

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.