California State Teachers Retirement System Purchases 1,507 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

California State Teachers Retirement System lifted its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 813,062 shares of the information technology service provider’s stock after buying an additional 1,507 shares during the period. California State Teachers Retirement System owned about 0.16% of Cognizant Technology Solutions worth $61,411,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CTSH. Turtle Creek Wealth Advisors LLC acquired a new stake in Cognizant Technology Solutions during the fourth quarter worth approximately $26,000. NBC Securities Inc. bought a new position in Cognizant Technology Solutions in the third quarter valued at approximately $27,000. Spire Wealth Management grew its stake in shares of Cognizant Technology Solutions by 79.1% during the fourth quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after buying an additional 193 shares during the last quarter. Valley National Advisers Inc. grew its stake in shares of Cognizant Technology Solutions by 43.2% during the fourth quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock worth $44,000 after buying an additional 178 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter worth $52,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the sale, the executive vice president now directly owns 8,312 shares of the company’s stock, valued at $640,522.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CTSH. Wedbush reaffirmed an “outperform” rating and issued a $85.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, May 2nd. Citigroup dropped their target price on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Royal Bank of Canada boosted their target price on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 7th. Evercore ISI upped their price target on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus price target of $75.67.

Get Our Latest Stock Analysis on Cognizant Technology Solutions

Cognizant Technology Solutions Trading Down 1.0 %

CTSH stock traded down $0.67 during mid-day trading on Monday, reaching $65.48. 153,719 shares of the stock traded hands, compared to its average volume of 4,154,154. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. Cognizant Technology Solutions Co. has a one year low of $61.12 and a one year high of $80.09. The stock has a market capitalization of $32.56 billion, a PE ratio of 15.90, a PEG ratio of 1.98 and a beta of 1.04. The business has a 50-day moving average price of $68.73 and a two-hundred day moving average price of $72.90.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.11 earnings per share. Equities research analysts expect that Cognizant Technology Solutions Co. will post 4.6 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Friday, May 17th. Cognizant Technology Solutions’s payout ratio is presently 28.85%.

Cognizant Technology Solutions Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding CTSH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cognizant Technology Solutions Co. (NASDAQ:CTSHFree Report).

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

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.