Public Sector Pension Investment Board Purchases 4,806 Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Public Sector Pension Investment Board grew its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,543 shares of the information technology service provider’s stock after purchasing an additional 4,806 shares during the quarter. Public Sector Pension Investment Board’s holdings in Cognizant Technology Solutions were worth $5,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Park Square Financial Group LLC bought a new position in shares of Cognizant Technology Solutions during the fourth quarter worth $36,000. CoreCap Advisors LLC boosted its position in shares of Cognizant Technology Solutions by 21.5% during the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider’s stock worth $55,000 after acquiring an additional 126 shares during the last quarter. Pinney & Scofield Inc. bought a new position in shares of Cognizant Technology Solutions during the fourth quarter worth $55,000. Optiver Holding B.V. bought a new position in shares of Cognizant Technology Solutions during the fourth quarter worth $66,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Cognizant Technology Solutions during the first quarter worth $66,000. 92.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CTSH shares. Evercore ISI started coverage on shares of Cognizant Technology Solutions in a research report on Thursday, July 17th. They set an “outperform” rating and a $100.00 target price for the company. TD Securities upped their target price on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a “hold” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. dropped their target price on shares of Cognizant Technology Solutions from $98.00 to $93.00 and set an “overweight” rating for the company in a research report on Monday, July 28th. Wall Street Zen downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Cognizant Technology Solutions in a research note on Thursday, July 17th. They set a “hold” rating and a $80.00 price target on the stock. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $86.56.

Cognizant Technology Solutions Trading Up 0.9%

Shares of CTSH opened at $70.00 on Friday. Cognizant Technology Solutions Corporation has a twelve month low of $65.52 and a twelve month high of $90.82. The company has a market cap of $34.19 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.44 and a beta of 0.90. The company has a current ratio of 2.41, a quick ratio of 2.41 and a debt-to-equity ratio of 0.04. The company’s fifty day simple moving average is $75.88 and its 200-day simple moving average is $77.97.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 EPS for the quarter, topping the consensus estimate of $1.26 by $0.05. The company had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.17 billion. Cognizant Technology Solutions had a net margin of 11.89% and a return on equity of 16.77%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.17 EPS. As a group, analysts expect that Cognizant Technology Solutions Corporation will post 4.98 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, August 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 25.20%.

Cognizant Technology Solutions Profile

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.