Cognizant Technology Solutions Co. (NASDAQ:CTSH) Stake Lessened by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board lessened its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,678 shares of the information technology service provider’s stock after selling 600 shares during the period. New Mexico Educational Retirement Board’s holdings in Cognizant Technology Solutions were worth $1,821,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in Cognizant Technology Solutions by 276.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock worth $122,603,000 after purchasing an additional 1,167,033 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Cognizant Technology Solutions by 146.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider’s stock worth $126,940,000 after purchasing an additional 978,579 shares during the period. ING Groep NV boosted its holdings in Cognizant Technology Solutions by 61.5% in the third quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider’s stock worth $191,280,000 after purchasing an additional 943,372 shares during the period. State Street Corp boosted its holdings in Cognizant Technology Solutions by 3.6% in the third quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock worth $1,928,405,000 after purchasing an additional 867,176 shares during the period. Finally, Mizuho Markets Americas LLC acquired a new position in Cognizant Technology Solutions in the third quarter worth $61,744,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $90.70 on Monday. The company has a current ratio of 2.09, a quick ratio of 2.23 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $80.35 and its two-hundred day moving average price is $78.12. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82. The stock has a market cap of $44.97 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 2.32 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. As a group, sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.99 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.37%. The ex-dividend date is Tuesday, February 18th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s payout ratio is presently 27.49%.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the transaction, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at $3,126,052.42. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. UBS Group boosted their price target on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Royal Bank of Canada boosted their price target on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Morgan Stanley boosted their price target on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Robert W. Baird boosted their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Sixteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $83.67.

About Cognizant Technology Solutions

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.