Retirement Systems of Alabama Has $91.68 Million Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Retirement Systems of Alabama raised its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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’s holdings in Cognizant Technology Solutions were worth $91,678,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CTSH. Wilmington Savings Fund Society FSB bought a new stake in Cognizant Technology Solutions during the 3rd quarter worth approximately $155,000. World Investment Advisors LLC increased its stake in shares of Cognizant Technology Solutions by 21.8% in the third quarter. World Investment Advisors LLC now owns 5,634 shares of the information technology service provider’s stock valued at $435,000 after buying an additional 1,010 shares in the last quarter. Tudor Financial Inc. bought a new position in shares of Cognizant Technology Solutions in the third quarter valued at about $225,000. Unigestion Holding SA grew its holdings in Cognizant Technology Solutions by 148.6% during the 3rd quarter. Unigestion Holding SA now owns 10,256 shares of the information technology service provider’s stock worth $792,000 after acquiring an additional 6,131 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in Cognizant Technology Solutions by 118.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 271,533 shares of the information technology service provider’s stock valued at $20,957,000 after acquiring an additional 147,511 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Down 0.3 %

CTSH stock opened at $80.16 on Friday. Cognizant Technology Solutions Co. has a 1-year low of $63.79 and a 1-year high of $82.41. The business’s 50 day simple moving average is $78.19 and its 200 day simple moving average is $74.43. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. 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.

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

Cognizant Technology Solutions Announces Dividend

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

Insider Activity at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on CTSH. JPMorgan Chase & Co. increased their price target on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average target price of $79.47.

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.