Employees Retirement System of Texas Acquires 169,000 Shares of Cognizant (CTSH)

Employees Retirement System of Texas grew its holdings in Cognizant (NASDAQ:CTSH) by 545.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,000 shares of the information technology service provider’s stock after acquiring an additional 169,000 shares during the period. Employees Retirement System of Texas’ holdings in Cognizant were worth $16,100,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Linscomb & Williams Inc. boosted its holdings in shares of Cognizant by 16.6% in the 1st quarter. Linscomb & Williams Inc. now owns 4,668 shares of the information technology service provider’s stock valued at $376,000 after acquiring an additional 664 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in shares of Cognizant by 2.4% in the 1st quarter. Federated Investors Inc. PA now owns 29,089 shares of the information technology service provider’s stock valued at $2,341,000 after acquiring an additional 673 shares during the last quarter. Robecosam AG boosted its holdings in shares of Cognizant by 0.5% in the 4th quarter. Robecosam AG now owns 130,917 shares of the information technology service provider’s stock valued at $9,346,000 after acquiring an additional 686 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Cognizant by 1.3% in the 1st quarter. D.A. Davidson & CO. now owns 55,162 shares of the information technology service provider’s stock valued at $4,441,000 after acquiring an additional 702 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Cognizant by 0.8% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 89,043 shares of the information technology service provider’s stock valued at $6,371,000 after acquiring an additional 743 shares during the last quarter. 88.07% of the stock is currently owned by institutional investors and hedge funds.

CTSH has been the topic of several recent research reports. Zacks Investment Research raised shares of Cognizant from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Tuesday, February 13th. BidaskClub raised shares of Cognizant from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. Credit Suisse Group set a $100.00 price objective on shares of Cognizant and gave the company a “buy” rating in a report on Friday, February 9th. Loop Capital increased their price target on shares of Cognizant to $90.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. Finally, Bank of America increased their price target on shares of Cognizant from $86.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $84.30.

Cognizant opened at $75.78 on Friday, MarketBeat Ratings reports. The company has a quick ratio of 3.64, a current ratio of 3.64 and a debt-to-equity ratio of 0.06. The firm has a market cap of $44.49 billion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 1.45 and a beta of 1.07. Cognizant has a fifty-two week low of $65.59 and a fifty-two week high of $85.10.

Cognizant (NASDAQ:CTSH) last posted its quarterly earnings data on Monday, May 7th. The information technology service provider reported $1.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.06. The company had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.90 billion. Cognizant had a net margin of 9.67% and a return on equity of 20.48%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share. equities research analysts predict that Cognizant will post 4.17 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 31st. Shareholders of record on Tuesday, May 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Monday, May 21st. Cognizant’s dividend payout ratio is presently 22.66%.

In other Cognizant news, VP Malcolm Frank sold 1,091 shares of the company’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $82.11, for a total transaction of $89,582.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sumithra Gomatam sold 1,060 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $80.50, for a total transaction of $85,330.00. Following the transaction, the insider now owns 8,189 shares of the company’s stock, valued at $659,214.50. The disclosure for this sale can be found here. Insiders have sold 43,034 shares of company stock valued at $3,563,118 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

About Cognizant

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 business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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Institutional Ownership by Quarter for Cognizant (NASDAQ:CTSH)

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