California State Teachers Retirement System Has $71.79 Million Holdings in Cognizant Technology Solutions Corp (CTSH)

California State Teachers Retirement System lessened its holdings in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 8.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 989,670 shares of the information technology service provider’s stock after selling 92,788 shares during the quarter. California State Teachers Retirement System owned about 0.17% of Cognizant Technology Solutions worth $71,791,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. FMR LLC raised its stake in shares of Cognizant Technology Solutions by 81.6% in the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock worth $1,664,366,000 after buying an additional 11,262,360 shares in the last quarter. Edgewood Management LLC raised its stake in shares of Cognizant Technology Solutions by 9.3% in the 3rd quarter. Edgewood Management LLC now owns 16,915,676 shares of the information technology service provider’s stock worth $1,227,063,000 after buying an additional 1,443,368 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Cognizant Technology Solutions by 3.2% in the 3rd quarter. Nordea Investment Management AB now owns 10,076,020 shares of the information technology service provider’s stock worth $730,914,000 after buying an additional 313,364 shares in the last quarter. Comgest Global Investors S.A.S. raised its stake in shares of Cognizant Technology Solutions by 24.5% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 7,416,617 shares of the information technology service provider’s stock worth $538,001,000 after buying an additional 1,461,800 shares in the last quarter. Finally, Pzena Investment Management LLC raised its stake in shares of Cognizant Technology Solutions by 4.4% in the 2nd quarter. Pzena Investment Management LLC now owns 7,010,880 shares of the information technology service provider’s stock worth $465,522,000 after buying an additional 296,899 shares in the last quarter. Institutional investors own 87.06% of the company’s stock.

Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $71.19 on Thursday. The stock has a market capitalization of $41,980.00, a price-to-earnings ratio of 21.36, a PEG ratio of 1.61 and a beta of 1.07. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions Corp has a 52-week low of $51.52 and a 52-week high of $76.51.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.13. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. Cognizant Technology Solutions’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 earnings per share. research analysts anticipate that Cognizant Technology Solutions Corp will post 3.35 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Monday, November 20th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.84%. The ex-dividend date was Friday, November 17th. Cognizant Technology Solutions’s payout ratio is 18.58%.

In related news, insider Sean Middleton sold 1,278 shares of the company’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $71.36, for a total transaction of $91,198.08. Following the transaction, the insider now directly owns 3,366 shares of the company’s stock, valued at $240,197.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Francisco Dsouza sold 482,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $72.04, for a total value of $34,723,280.00. Following the transaction, the chief executive officer now directly owns 621,643 shares in the company, valued at $44,783,161.72. The disclosure for this sale can be found here. Insiders have sold 558,577 shares of company stock worth $40,286,414 over the last three months. 1.08% of the stock is owned by insiders.

A number of analysts have recently commented on the company. BMO Capital Markets reissued a “buy” rating and issued a $78.00 price objective on shares of Cognizant Technology Solutions in a research note on Tuesday, December 5th. BidaskClub downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Vetr raised Cognizant Technology Solutions from a “hold” rating to a “strong-buy” rating and set a $95.56 price objective on the stock in a research note on Wednesday, November 29th. Pivotal Research assumed coverage on Cognizant Technology Solutions in a research note on Wednesday, November 8th. They issued a “buy” rating and a $93.00 price objective on the stock. Finally, Zacks Investment Research downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Six investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $81.91.

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Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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

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