New York State Teachers Retirement System Sells 14,936 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

New York State Teachers Retirement System lessened its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Free Report) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 474,639 shares of the information technology service provider's stock after selling 14,936 shares during the quarter. New York State Teachers Retirement System owned about 0.10% of Cognizant Technology Solutions worth $36,500,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Addison Advisors LLC lifted its stake in shares of Cognizant Technology Solutions by 127.7% in the 3rd 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 during the period. Ashton Thomas Securities LLC acquired a new position in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $30,000. Trust Co. of Vermont increased its position in Cognizant Technology Solutions by 188.4% during the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock worth $34,000 after purchasing an additional 292 shares in the last quarter. Eastern Bank purchased a new position in shares of Cognizant Technology Solutions during the third quarter valued at approximately $37,000. Finally, Spire Wealth Management boosted its stake in Cognizant Technology Solutions by 74.7% in the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider's stock worth $37,000 after buying an additional 204 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company's stock.

Cognizant Technology Solutions Stock Down 0.4 %

CTSH traded down $0.34 on Wednesday, reaching $88.43. 2,759,357 shares of the company traded hands, compared to its average volume of 3,257,283. The company has a market cap of $43.85 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 2.19 and a beta of 1.07. The stock's 50 day moving average price is $80.72 and its 200-day moving average price is $78.35. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $90.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. On average, sell-side analysts expect that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th will be issued a $0.31 dividend. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, February 18th. This represents a $1.24 annualized dividend and a yield of 1.40%. Cognizant Technology Solutions's dividend payout ratio is 26.61%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. TD Cowen lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a "hold" rating in a research report on Thursday, October 31st. Royal Bank of Canada boosted their price objective on Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a "sector perform" rating in a research report on Thursday, February 6th. Barclays boosted their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Robert W. Baird raised their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, Mizuho upped their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Sixteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Cognizant Technology Solutions presently has an average rating of "Hold" and a consensus price target of $83.67.

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.