Kentucky Retirement Systems Insurance Trust Fund Has $1.13 Million Stock Holdings in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 8.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,675 shares of the information technology service provider’s stock after selling 1,362 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Cognizant Technology Solutions were worth $1,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in Cognizant Technology Solutions in the 3rd quarter valued at approximately $1,972,000. Trinity Legacy Partners LLC grew its stake in shares of Cognizant Technology Solutions by 14.3% in the third quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock worth $4,629,000 after purchasing an additional 7,547 shares during the last quarter. Blair William & Co. IL raised its position in Cognizant Technology Solutions by 2.5% during the 1st quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock worth $1,231,000 after purchasing an additional 412 shares during the last quarter. Cetera Investment Advisers raised its position in Cognizant Technology Solutions by 135.4% during the 1st quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider’s stock worth $2,441,000 after purchasing an additional 19,157 shares during the last quarter. Finally, National Pension Service lifted its holdings in Cognizant Technology Solutions by 15.9% during the 3rd quarter. National Pension Service now owns 907,902 shares of the information technology service provider’s stock worth $70,072,000 after buying an additional 124,740 shares during the period. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $77.11 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The business has a 50-day simple moving average of $76.85 and a two-hundred day simple moving average of $72.93. The company has a market capitalization of $38.23 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05. Cognizant Technology Solutions Co. has a 52-week low of $63.79 and a 52-week high of $82.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. Cognizant Technology Solutions’s quarterly revenue was up 3.0% on a year-over-year basis. Research analysts expect that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Analyst Ratings Changes

CTSH has been the subject of a number of analyst reports. Robert W. Baird raised their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group started coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target on the stock. Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Finally, Royal Bank of Canada increased their price target on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company 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.