Kentucky Retirement Systems Insurance Trust Fund Sells 1,362 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Kentucky Retirement Systems Insurance Trust Fund lessened its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 8.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,675 shares of the information technology service provider’s stock after selling 1,362 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Cognizant Technology Solutions were worth $1,133,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in Cognizant Technology Solutions in the third quarter valued at approximately $1,972,000. Trinity Legacy Partners LLC raised its stake in Cognizant Technology Solutions by 14.3% in the 3rd quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock valued at $4,629,000 after acquiring an additional 7,547 shares during the period. Blair William & Co. IL lifted its holdings in Cognizant Technology Solutions by 2.5% during the 1st quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock valued at $1,231,000 after purchasing an additional 412 shares during the last quarter. Cetera Investment Advisers boosted its position in Cognizant Technology Solutions by 135.4% during the first quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider’s stock worth $2,441,000 after purchasing an additional 19,157 shares during the period. Finally, National Pension Service increased its holdings in shares of Cognizant Technology Solutions by 15.9% in the third quarter. National Pension Service now owns 907,902 shares of the information technology service provider’s stock valued at $70,072,000 after purchasing an additional 124,740 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTSH has been the subject of a number of research reports. Mizuho raised their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Royal Bank of Canada boosted their price objective on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 28th. The Goldman Sachs Group reiterated a “neutral” rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. TD Cowen boosted their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $79.47.

Cognizant Technology Solutions Stock Down 4.5 %

NASDAQ CTSH opened at $77.11 on Monday. Cognizant Technology Solutions Co. has a fifty-two week low of $63.79 and a fifty-two week high of $82.41. The business has a fifty day moving average price of $76.85 and a two-hundred day moving average price of $72.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The stock has a market capitalization of $38.23 billion, a PE ratio of 17.06, a PEG ratio of 2.13 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.10. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. Cognizant Technology Solutions’s revenue was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $1.16 earnings per share. Equities analysts expect that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is 26.55%.

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.