New York State Teachers Retirement System Has $37.79 Million Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

New York State Teachers Retirement System trimmed its position in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 489,575 shares of the information technology service provider's stock after selling 11,852 shares during the quarter. New York State Teachers Retirement System owned approximately 0.10% of Cognizant Technology Solutions worth $37,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Cognizant Technology Solutions by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider's stock valued at $4,254,178,000 after acquiring an additional 6,933,908 shares in the last quarter. Cibc World Market Inc. grew its stake in Cognizant Technology Solutions by 19,850.5% in the 2nd quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider's stock valued at $205,096,000 after buying an additional 3,000,996 shares during the last quarter. Pzena Investment Management LLC raised its holdings in Cognizant Technology Solutions by 11.7% in the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider's stock worth $1,265,473,000 after acquiring an additional 1,943,127 shares during the period. Bank of Montreal Can lifted its position in Cognizant Technology Solutions by 152.8% during the 2nd quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider's stock worth $146,132,000 after acquiring an additional 1,281,236 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in Cognizant Technology Solutions by 276.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider's stock valued at $122,603,000 after acquiring an additional 1,167,033 shares during the period. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Price Performance

CTSH stock remained flat at $74.59 during midday trading on Friday. The company had a trading volume of 3,895,460 shares, compared to its average volume of 3,826,112. The business has a fifty day moving average of $76.40 and a 200-day moving average of $71.94. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Co. has a 12-month low of $62.14 and a 12-month high of $80.27. The stock has a market cap of $36.97 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 2.09 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.11. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.37% and a net margin of 11.60%. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the company posted $1.16 earnings per share. Equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.62 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions's dividend payout ratio (DPR) is presently 26.55%.

Insider Activity at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the transaction, the chief executive officer now owns 46,427 shares of the company's stock, valued at approximately $3,419,812.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CTSH. Daiwa America upgraded shares of Cognizant Technology Solutions to a "hold" rating in a research note on Tuesday, August 27th. Royal Bank of Canada upped their price objective on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 28th. Robert W. Baird lifted their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday. Bank of America raised Cognizant Technology Solutions from an "underperform" rating to a "neutral" rating and upped their price target for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a "neutral" rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, twenty have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of "Hold" and an average target price of $77.70.

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.