Public Employees Retirement System of Ohio Sells 20,508 Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Public Employees Retirement System of Ohio decreased its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 7.6% in the 1st quarter, HoldingsChannel.com reports. The fund 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’s holdings in Cognizant Technology Solutions were worth $18,244,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CTSH. Price T Rowe Associates Inc. MD grew its position in Cognizant Technology Solutions by 129.3% during the first 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 buying an additional 1,073,666 shares during the period. Magnetar Financial LLC purchased a new stake in Cognizant Technology Solutions during the first quarter valued at about $4,392,000. 1832 Asset Management L.P. lifted its holdings in Cognizant Technology Solutions by 10.7% during the first quarter. 1832 Asset Management L.P. now owns 34,549 shares of the information technology service provider’s stock valued at $2,532,000 after purchasing an additional 3,341 shares during the last quarter. Linscomb Wealth Inc. lifted its holdings in Cognizant Technology Solutions by 0.8% during the first quarter. Linscomb Wealth Inc. now owns 26,898 shares of the information technology service provider’s stock valued at $1,971,000 after purchasing an additional 201 shares during the last quarter. Finally, Vident Advisory LLC lifted its holdings in Cognizant Technology Solutions by 57.6% during the first quarter. Vident Advisory LLC now owns 270,512 shares of the information technology service provider’s stock valued at $19,826,000 after purchasing an additional 98,835 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Up 0.3 %

Shares of NASDAQ CTSH opened at $74.77 on Tuesday. Cognizant Technology Solutions Co. has a one year low of $62.14 and a one year high of $80.09. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35. The firm’s 50 day simple moving average is $68.81 and its two-hundred day simple moving average is $71.86. The stock has a market capitalization of $37.18 billion, a P/E ratio of 17.92, a PEG ratio of 2.23 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same period last year, the business earned $1.11 earnings per share. The business’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, analysts expect that Cognizant Technology Solutions Co. will post 4.61 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

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

Analyst Ratings Changes

Several research firms have commented on CTSH. The Goldman Sachs Group assumed coverage on shares of Cognizant Technology Solutions in a report on Monday, June 24th. They set a “neutral” rating and a $72.00 price objective on the stock. Susquehanna lowered their price target on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Citigroup lowered their price target on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, Barclays increased their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $75.75.

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.