Teacher Retirement System of Texas lessened its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 49.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 459,791 shares of the information technology service provider’s stock after selling 449,239 shares during the quarter. Teacher Retirement System of Texas owned about 0.08% of Cognizant Technology Solutions Corporation worth $33,353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of CTSH. FMR LLC increased its position in Cognizant Technology Solutions Corporation by 81.6% in the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock valued at $1,664,366,000 after acquiring an additional 11,262,360 shares in the last quarter. Comgest Global Investors S.A.S. increased its position in Cognizant Technology Solutions Corporation by 57.7% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock valued at $395,400,000 after acquiring an additional 2,178,800 shares in the last quarter. Yacktman Asset Management LP acquired a new stake in Cognizant Technology Solutions Corporation in the 2nd quarter valued at about $89,259,000. BT Investment Management Ltd acquired a new stake in Cognizant Technology Solutions Corporation in the 2nd quarter valued at about $83,134,000. Finally, FIL Ltd increased its position in Cognizant Technology Solutions Corporation by 37.7% in the 2nd quarter. FIL Ltd now owns 3,718,791 shares of the information technology service provider’s stock valued at $246,928,000 after acquiring an additional 1,017,981 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Shares of Cognizant Technology Solutions Corporation (CTSH) traded up $0.23 on Tuesday, reaching $74.79. 566,858 shares of the company’s stock were exchanged, compared to its average volume of 3,997,555. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. Cognizant Technology Solutions Corporation has a 1 year low of $51.35 and a 1 year high of $76.51. The company has a market capitalization of $43,787.04, a price-to-earnings ratio of 22.17, a P/E/G ratio of 1.67 and a beta of 1.10.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions Corporation had a net margin of 13.42% and a return on equity of 18.94%. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. research analysts forecast that Cognizant Technology Solutions Corporation will post 3.35 EPS for the current year.

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

In other news, EVP James Patrick Lennox sold 1,725 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $71.57, for a total value of $123,458.25. Following the sale, the executive vice president now owns 8,407 shares of the company’s stock, valued at $601,688.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Venkat Krishnaswamy sold 4,000 shares of the business’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $75.00, for a total transaction of $300,000.00. Following the completion of the sale, the insider now directly owns 3,919 shares in the company, valued at approximately $293,925. The disclosure for this sale can be found here. In the last three months, insiders sold 250,169 shares of company stock worth $18,015,096. 1.08% of the stock is currently owned by insiders.

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Several equities research analysts have weighed in on CTSH shares. Royal Bank Of Canada restated a “buy” rating and issued a $77.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Sunday, October 8th. Robert W. Baird lifted their price target on shares of Cognizant Technology Solutions Corporation from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, October 19th. Zacks Investment Research upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Tuesday, October 10th. Vetr upgraded shares of Cognizant Technology Solutions Corporation from a “sell” rating to a “buy” rating and set a $76.85 price target for the company in a research report on Tuesday, September 19th. Finally, Wedbush reiterated an “outperform” rating on shares of Cognizant Technology Solutions Corporation in a research report on Monday, September 18th. Five analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $81.19.

Cognizant Technology Solutions Corporation Company 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.

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

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