California Public Employees Retirement System increased its position in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 10.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,408,318 shares of the information technology service provider’s stock after acquiring an additional 131,918 shares during the period. California Public Employees Retirement System owned approximately 0.24% of Cognizant Technology Solutions worth $102,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Comerica Securities Inc. increased its stake in shares of Cognizant Technology Solutions by 0.4% in the 2nd quarter. Comerica Securities Inc. now owns 7,810 shares of the information technology service provider’s stock valued at $519,000 after purchasing an additional 32 shares in the last quarter. CWA Asset Management Group LLC increased its stake in shares of Cognizant Technology Solutions by 1.0% in the 2nd quarter. CWA Asset Management Group LLC now owns 5,717 shares of the information technology service provider’s stock valued at $380,000 after purchasing an additional 57 shares in the last quarter. Westover Capital Advisors LLC increased its stake in shares of Cognizant Technology Solutions by 2.2% in the 2nd quarter. Westover Capital Advisors LLC now owns 3,885 shares of the information technology service provider’s stock valued at $258,000 after purchasing an additional 83 shares in the last quarter. Frontier Wealth Management LLC increased its stake in shares of Cognizant Technology Solutions by 1.0% in the 2nd quarter. Frontier Wealth Management LLC now owns 10,099 shares of the information technology service provider’s stock valued at $671,000 after purchasing an additional 99 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in shares of Cognizant Technology Solutions by 0.3% in the 2nd quarter. Blair William & Co. IL now owns 32,694 shares of the information technology service provider’s stock valued at $2,171,000 after purchasing an additional 106 shares in the last quarter. Institutional investors own 87.06% of the company’s stock.

Several equities analysts recently weighed in on the company. BMO Capital Markets restated a “buy” rating and issued a $78.00 price target on shares of Cognizant Technology Solutions in a research note on Tuesday, December 5th. Oppenheimer restated a “buy” rating and issued a $80.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, November 1st. Morgan Stanley lifted their price target on Cognizant Technology Solutions from $74.00 to $77.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Vetr upgraded Cognizant Technology Solutions from a “hold” rating to a “strong-buy” rating and set a $95.56 price target for the company in a research note on Wednesday, November 29th. Finally, Sanford C. Bernstein lifted their price objective on Cognizant Technology Solutions from $84.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, November 2nd. Six investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $81.91.

Cognizant Technology Solutions Corp (NASDAQ CTSH) opened at $71.56 on Tuesday. The firm has a market capitalization of $42,348.30, a P/E ratio of 21.44, a PEG ratio of 1.62 and a beta of 1.07. Cognizant Technology Solutions Corp has a twelve month low of $51.52 and a twelve month high of $76.51. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.13. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 EPS. research analysts predict that Cognizant Technology Solutions Corp will post 3.35 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Monday, November 20th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.84%. The ex-dividend date was Friday, November 17th. Cognizant Technology Solutions’s dividend payout ratio is currently 18.52%.

In other news, VP Malcolm Frank sold 9,462 shares of Cognizant Technology Solutions stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $70.61, for a total transaction of $668,111.82. Following the sale, the vice president now owns 15,533 shares of the company’s stock, valued at approximately $1,096,785.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sean Middleton sold 1,278 shares of Cognizant Technology Solutions stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $71.36, for a total transaction of $91,198.08. Following the sale, the insider now directly owns 3,366 shares in the company, valued at approximately $240,197.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 593,014 shares of company stock worth $42,784,474. Insiders own 1.08% of the company’s stock.

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About Cognizant Technology Solutions

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.

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

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