New York State Common Retirement Fund raised its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,782,294 shares of the information technology service provider’s stock after acquiring an additional 18,130 shares during the period. New York State Common Retirement Fund owned approximately 0.30% of Cognizant Technology Solutions worth $129,288,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC increased its holdings in shares of Cognizant Technology Solutions by 81.6% in the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock worth $1,664,366,000 after buying an additional 11,262,360 shares during the last quarter. Comgest Global Investors S.A.S. increased its holdings in shares of Cognizant Technology Solutions by 57.7% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock worth $395,400,000 after buying an additional 2,178,800 shares during the last quarter. Yacktman Asset Management LP bought a new stake in shares of Cognizant Technology Solutions in the 2nd quarter worth about $89,259,000. BT Investment Management Ltd bought a new stake in shares of Cognizant Technology Solutions in the 2nd quarter worth about $83,134,000. Finally, FIL Ltd increased its holdings in shares of Cognizant Technology Solutions by 37.7% in the 2nd quarter. FIL Ltd now owns 3,718,791 shares of the information technology service provider’s stock worth $246,928,000 after buying an additional 1,017,981 shares during the last quarter. Institutional investors own 87.31% of the company’s stock.

A number of analysts have recently weighed in on CTSH shares. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Tuesday, October 10th. Robert W. Baird boosted their target price on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, October 19th. Bank of America restated a “buy” rating and issued a $86.00 target price on shares of Cognizant Technology Solutions in a report on Tuesday, September 12th. SunTrust Banks reaffirmed a “buy” rating and set a $85.00 price target on shares of Cognizant Technology Solutions in a research note on Friday, November 3rd. Finally, KeyCorp reaffirmed a “buy” rating and set a $79.00 price target on shares of Cognizant Technology Solutions in a research note on Friday, September 8th. Five research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $81.91.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at $71.36 on Friday. The stock has a market cap of $42,619.54, a PE ratio of 21.58, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 3.29. Cognizant Technology Solutions Corporation has a 52-week low of $51.52 and a 52-week high of $76.51.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.13. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 EPS. equities research analysts anticipate that Cognizant Technology Solutions Corporation will post 3.35 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Monday, November 20th were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 17th. This represents a $0.60 annualized dividend and a yield of 0.84%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 18.52%.

In other Cognizant Technology Solutions news, EVP Allen Shaheen sold 2,358 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $70.20, for a total value of $165,531.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Francisco Dsouza sold 482,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $72.04, for a total transaction of $34,723,280.00. Following the completion of the sale, the chief executive officer now directly owns 621,643 shares of the company’s stock, valued at $44,783,161.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 644,918 shares of company stock valued at $46,568,899. 1.08% of the stock is owned by corporate insiders.

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Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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

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