Cognizant Technology Solutions Corp (CTSH) Shares Bought by Retirement Systems of Alabama

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Retirement Systems of Alabama grew its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 0.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 267,791 shares of the information technology service provider’s stock after purchasing an additional 211 shares during the period. Retirement Systems of Alabama’s holdings in Cognizant Technology Solutions were worth $19,401,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CTSH. Bank of New York Mellon Corp grew its position in Cognizant Technology Solutions by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 18,415,017 shares of the information technology service provider’s stock worth $1,420,720,000 after acquiring an additional 141,930 shares in the last quarter. Martingale Asset Management L P grew its position in Cognizant Technology Solutions by 4.1% in the third quarter. Martingale Asset Management L P now owns 677,098 shares of the information technology service provider’s stock worth $52,239,000 after acquiring an additional 26,575 shares in the last quarter. Renaissance Technologies LLC grew its position in Cognizant Technology Solutions by 13.4% in the third quarter. Renaissance Technologies LLC now owns 451,452 shares of the information technology service provider’s stock worth $34,830,000 after acquiring an additional 53,500 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Cognizant Technology Solutions by 86.2% during the third quarter. Thrivent Financial for Lutherans now owns 45,799 shares of the information technology service provider’s stock valued at $3,534,000 after buying an additional 21,197 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Cognizant Technology Solutions by 241.1% during the third quarter. Brown Brothers Harriman & Co. now owns 2,657 shares of the information technology service provider’s stock valued at $205,000 after buying an additional 1,878 shares during the period. Hedge funds and other institutional investors own 88.68% of the company’s stock.

CTSH has been the subject of several recent analyst reports. Daiwa Capital Markets initiated coverage on Cognizant Technology Solutions in a research report on Wednesday, February 13th. They set a “buy” rating and a $90.00 target price for the company. BidaskClub upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, January 22nd. Zacks Investment Research upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Monday, April 8th. BMO Capital Markets boosted their target price on Cognizant Technology Solutions to $80.00 and gave the company a “market perform” rating in a research report on Monday, February 4th. Finally, Wells Fargo & Co lowered Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $82.00 to $75.00 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $80.29.

In other news, insider Venkat Krishnaswamy sold 3,014 shares of Cognizant Technology Solutions stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $71.75, for a total transaction of $216,254.50. Following the completion of the sale, the insider now owns 8,770 shares of the company’s stock, valued at $629,247.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allen Shaheen sold 396 shares of Cognizant Technology Solutions stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $73.80, for a total transaction of $29,224.80. The disclosure for this sale can be found here. Insiders have sold 49,830 shares of company stock valued at $3,588,232 in the last ninety days. Insiders own 0.60% of the company’s stock.

Cognizant Technology Solutions stock opened at $71.90 on Wednesday. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions Corp has a fifty-two week low of $59.47 and a fifty-two week high of $83.35. The company has a market cap of $42.74 billion, a PE ratio of 17.89, a P/E/G ratio of 1.66 and a beta of 0.97.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 6th. The information technology service provider reported $1.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.07. Cognizant Technology Solutions had a net margin of 13.03% and a return on equity of 22.15%. The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. On average, sell-side analysts predict that Cognizant Technology Solutions Corp will post 4.44 EPS for the current year.

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About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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

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