Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama grew its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,187,850 shares of the information technology service provider’s stock after buying an additional 40,226 shares during the period. Retirement Systems of Alabama owned 0.24% of Cognizant Technology Solutions worth $91,678,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CTSH. Addison Advisors LLC boosted its position in Cognizant Technology Solutions by 127.7% during 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. 1620 Investment Advisors Inc. acquired a new stake in Cognizant Technology Solutions in the second quarter worth about $25,000. Ashton Thomas Securities LLC bought a new position in Cognizant Technology Solutions in the 3rd quarter valued at about $30,000. Pinnacle Bancorp Inc. increased its stake in shares of Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after acquiring an additional 146 shares during the period. Finally, Eastern Bank bought a new position in Cognizant Technology Solutions during the 3rd quarter valued at $37,000. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Trading Down 0.3 %

Cognizant Technology Solutions stock opened at $80.16 on Friday. The business’s 50-day simple moving average is $78.19 and its 200-day simple moving average is $74.43. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $82.41. The firm has a market capitalization of $39.74 billion, a PE ratio of 17.78, a PEG ratio of 2.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. Cognizant Technology Solutions’s revenue was up 3.0% compared to the same quarter last year. Equities research analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.50%. Cognizant Technology Solutions’s dividend payout ratio is currently 26.55%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CTSH. Jefferies Financial Group began coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 target price on the stock. TD Cowen increased their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Robert W. Baird increased their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Finally, Royal Bank of Canada upped their price target 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. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $79.47.

Insider Transactions at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the transaction, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

About Cognizant Technology Solutions

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.