Public Employees Retirement System of Ohio Has $18.24 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Public Employees Retirement System of Ohio cut its holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 248,928 shares of the information technology service provider’s stock after selling 20,508 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.05% of Cognizant Technology Solutions worth $18,244,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in Cognizant Technology Solutions by 129.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,904,263 shares of the information technology service provider’s stock valued at $139,565,000 after acquiring an additional 1,073,666 shares in the last quarter. Magnetar Financial LLC bought a new position in Cognizant Technology Solutions in the 1st quarter worth approximately $4,392,000. 1832 Asset Management L.P. raised its position in Cognizant Technology Solutions by 10.7% in the 1st quarter. 1832 Asset Management L.P. now owns 34,549 shares of the information technology service provider’s stock worth $2,532,000 after purchasing an additional 3,341 shares during the last quarter. Linscomb Wealth Inc. boosted its position in Cognizant Technology Solutions by 0.8% in the 1st quarter. Linscomb Wealth Inc. now owns 26,898 shares of the information technology service provider’s stock valued at $1,971,000 after buying an additional 201 shares during the last quarter. Finally, Vident Advisory LLC increased its stake in shares of Cognizant Technology Solutions by 57.6% in the 1st quarter. Vident Advisory LLC now owns 270,512 shares of the information technology service provider’s stock valued at $19,826,000 after buying an additional 98,835 shares during the period. 92.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CTSH shares. Mizuho reiterated a “neutral” rating and issued a $82.00 price target on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. reduced their price objective 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. Susquehanna dropped their target price on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Finally, Citigroup cut their price target on 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. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $75.75.

Cognizant Technology Solutions Stock Up 0.3 %

Shares of CTSH stock opened at $74.77 on Tuesday. The firm has a fifty day moving average of $68.81 and a 200-day moving average of $71.86. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Co. has a 12-month low of $62.14 and a 12-month high of $80.09. The company has a market capitalization of $37.18 billion, a price-to-earnings ratio of 17.92, a P/E/G ratio of 2.23 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the prior year, the firm earned $1.11 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts predict that Cognizant Technology Solutions Co. will post 4.61 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio is 28.85%.

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.