Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 11.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 216,678 shares of the information technology service provider's stock after selling 28,560 shares during the period. Public Employees Retirement System of Ohio's holdings in Cognizant Technology Solutions were worth $16,723,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Addison Advisors LLC raised its position in Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider's stock worth $26,000 after acquiring an additional 189 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Cognizant Technology Solutions in the 2nd quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new stake in Cognizant Technology Solutions during the third quarter worth about $30,000. Pinnacle Bancorp Inc. boosted its holdings in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider's stock worth $35,000 after buying an additional 146 shares in the last quarter. Finally, Eastern Bank acquired a new position in Cognizant Technology Solutions during the third quarter worth about $37,000. Hedge funds and other institutional investors own 92.44% of the company's stock.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the sale, the chief accounting officer now owns 39,022 shares of the company's stock, valued at $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CTSH shares. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Mizuho lifted their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. TD Cowen raised their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a "hold" rating in a research report on Thursday, October 31st. Robert W. Baird lifted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada raised their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a "sector perform" rating in a report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $79.47.

Cognizant Technology Solutions Trading Up 1.5 %

CTSH traded up $1.19 during midday trading on Wednesday, hitting $81.25. The company's stock had a trading volume of 2,150,615 shares, compared to its average volume of 3,764,601. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.41. The firm has a 50-day moving average price of $78.02 and a two-hundred day moving average price of $74.34. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm has a market cap of $40.29 billion, a P/E ratio of 18.05, a PEG ratio of 2.24 and a beta of 1.06.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.15 by $0.10. The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. Cognizant Technology Solutions's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.16 earnings per share. On average, research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions's payout ratio is currently 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.