Public Employees Retirement Association of Colorado Reduces Stock Position in Cognizant Technology Solutions Corp (NASDAQ:CTSH)

Public Employees Retirement Association of Colorado reduced its holdings in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 4.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,131 shares of the information technology service provider’s stock after selling 5,064 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Cognizant Technology Solutions were worth $6,664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Field & Main Bank boosted its stake in shares of Cognizant Technology Solutions by 350.0% during the 2nd quarter. Field & Main Bank now owns 450 shares of the information technology service provider’s stock worth $29,000 after purchasing an additional 350 shares during the period. Resources Investment Advisors Inc. boosted its stake in shares of Cognizant Technology Solutions by 125.6% during the 1st quarter. Resources Investment Advisors Inc. now owns 503 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 280 shares during the period. Penserra Capital Management LLC purchased a new position in shares of Cognizant Technology Solutions during the 1st quarter worth about $37,000. Berman Capital Advisors LLC lifted its holdings in Cognizant Technology Solutions by 137.7% during the 2nd quarter. Berman Capital Advisors LLC now owns 637 shares of the information technology service provider’s stock valued at $40,000 after buying an additional 369 shares in the last quarter. Finally, Nelson Roberts Investment Advisors LLC lifted its holdings in Cognizant Technology Solutions by 7,175.0% during the 1st quarter. Nelson Roberts Investment Advisors LLC now owns 582 shares of the information technology service provider’s stock valued at $42,000 after buying an additional 574 shares in the last quarter. 88.41% of the stock is owned by institutional investors and hedge funds.

CTSH has been the subject of a number of research analyst reports. HSBC lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and decreased their price objective for the company from $72.00 to $70.00 in a report on Tuesday, July 23rd. CIBC restated a “market perform” rating on shares of Cognizant Technology Solutions in a report on Friday, May 3rd. Wells Fargo & Co set a $63.00 price target on shares of Cognizant Technology Solutions and gave the company a “hold” rating in a report on Friday, May 3rd. Bank of America restated an “underperform” rating and issued a $57.00 price target (down previously from $71.00) on shares of Cognizant Technology Solutions in a report on Monday, May 6th. Finally, ValuEngine upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $74.48.



NASDAQ CTSH opened at $61.06 on Friday. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.13. The firm has a market cap of $33.79 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 1.54 and a beta of 1.01. The company has a 50 day moving average price of $64.30 and a 200 day moving average price of $67.26. Cognizant Technology Solutions Corp has a 52 week low of $56.73 and a 52 week high of $78.59.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.93 by $0.01. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $4.13 billion. Cognizant Technology Solutions had a net margin of 12.61% and a return on equity of 20.52%. Cognizant Technology Solutions’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 EPS. On average, equities research analysts anticipate that Cognizant Technology Solutions Corp will post 3.96 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Wednesday, August 21st. Cognizant Technology Solutions’s dividend payout ratio is presently 19.90%.

In other news, SVP Robert Telesmanic sold 3,343 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $60.00, for a total value of $200,580.00. Following the sale, the senior vice president now directly owns 7,337 shares of the company’s stock, valued at approximately $440,220. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian Humphries acquired 19,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The stock was acquired at an average cost of $61.09 per share, for a total transaction of $1,160,710.00. Following the completion of the acquisition, the chief executive officer now directly owns 19,000 shares in the company, valued at $1,160,710. The disclosure for this purchase can be found here. Insiders sold a total of 47,120 shares of company stock worth $2,960,866 over the last ninety days. Insiders own 0.56% of the company’s stock.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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

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