Cognizant Technology Solutions Corporation (CTSH) Shares Bought by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its stake in shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 286,543 shares of the information technology service provider’s stock after purchasing an additional 964 shares during the period. Retirement Systems of Alabama’s holdings in Cognizant Technology Solutions Corporation were worth $20,786,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in Cognizant Technology Solutions Corporation during the third quarter worth about $2,988,000. Cedar Capital LLC raised its stake in Cognizant Technology Solutions Corporation by 35.2% during the third quarter. Cedar Capital LLC now owns 7,090 shares of the information technology service provider’s stock worth $514,000 after acquiring an additional 1,846 shares during the period. AKO Capital LLP raised its stake in Cognizant Technology Solutions Corporation by 14.8% during the third quarter. AKO Capital LLP now owns 819,187 shares of the information technology service provider’s stock worth $59,424,000 after acquiring an additional 105,850 shares during the period. HM Payson & Co. raised its stake in Cognizant Technology Solutions Corporation by 19.3% during the third quarter. HM Payson & Co. now owns 16,510 shares of the information technology service provider’s stock worth $1,198,000 after acquiring an additional 2,668 shares during the period. Finally, Smith Salley & Associates raised its stake in Cognizant Technology Solutions Corporation by 2.7% during the third quarter. Smith Salley & Associates now owns 100,904 shares of the information technology service provider’s stock worth $7,319,000 after acquiring an additional 2,689 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of Cognizant Technology Solutions Corporation (CTSH) traded up $0.41 during trading hours on Wednesday, reaching $74.97. 2,261,400 shares of the company were exchanged, compared to its average volume of 3,989,663. The company has a market capitalization of $43,963.93, a PE ratio of 22.26, a price-to-earnings-growth ratio of 1.68 and a beta of 1.10. Cognizant Technology Solutions Corporation has a 1 year low of $51.35 and a 1 year high of $76.51. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07.

Cognizant Technology Solutions Corporation (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 Zacks’ consensus estimate of $0.85 by $0.13. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Cognizant Technology Solutions Corporation had a net margin of 13.42% and a return on equity of 18.94%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. research analysts predict that Cognizant Technology Solutions Corporation will post 3.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, November 20th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Friday, November 17th. Cognizant Technology Solutions Corporation’s payout ratio is 18.52%.

Several equities research analysts recently weighed in on CTSH shares. Zacks Investment Research upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a research note on Tuesday, October 10th. Robert W. Baird increased their price objective on shares of Cognizant Technology Solutions Corporation from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, October 19th. Bank of America Corporation reiterated a “buy” rating and set a $86.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Tuesday, September 12th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $85.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Friday, November 3rd. Finally, KeyCorp reiterated a “buy” rating and set a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Friday, September 8th. Five research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $81.19.

In related news, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $70.00, for a total value of $1,750,000.00. Following the completion of the transaction, the insider now owns 360,856 shares of the company’s stock, valued at approximately $25,259,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Rajeev Mehta sold 32,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $71.02, for a total transaction of $2,272,640.00. Following the completion of the transaction, the president now directly owns 187,965 shares of the company’s stock, valued at approximately $13,349,274.30. The disclosure for this sale can be found here. Insiders have sold 242,207 shares of company stock valued at $17,441,832 over the last 90 days. 1.08% of the stock is currently owned by insiders.

COPYRIGHT VIOLATION NOTICE: “Cognizant Technology Solutions Corporation (CTSH) Shares Bought by Retirement Systems of Alabama” was first posted by Markets Daily and is the property of of Markets Daily. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this piece of content can be accessed at https://www.themarketsdaily.com/2017/11/15/cognizant-technology-solutions-corporation-ctsh-shares-bought-by-retirement-systems-of-alabama.html.

Cognizant Technology Solutions Corporation 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.

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 Corporation (NASDAQ:CTSH).

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

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

Latest News

Leave a Reply