Strs Ohio Has $792,000 Position in Cognizant Technology Solutions Corporation $CTSH

Strs Ohio trimmed its stake in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 71.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,806 shares of the information technology service provider’s stock after selling 28,966 shares during the quarter. Strs Ohio’s holdings in Cognizant Technology Solutions were worth $792,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CTSH. Covestor Ltd increased its position in Cognizant Technology Solutions by 25.8% in the 3rd quarter. Covestor Ltd now owns 4,612 shares of the information technology service provider’s stock valued at $309,000 after buying an additional 947 shares in the last quarter. Simplicity Wealth LLC raised its position in shares of Cognizant Technology Solutions by 8.5% during the third quarter. Simplicity Wealth LLC now owns 4,882 shares of the information technology service provider’s stock worth $327,000 after purchasing an additional 381 shares during the period. Rakuten Investment Management Inc. bought a new position in shares of Cognizant Technology Solutions in the 3rd quarter worth $2,571,000. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Cognizant Technology Solutions by 8.8% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 507,804 shares of the information technology service provider’s stock valued at $34,058,000 after purchasing an additional 41,035 shares during the period. Finally, Vest Financial LLC grew its position in Cognizant Technology Solutions by 14.9% in the 3rd quarter. Vest Financial LLC now owns 594,128 shares of the information technology service provider’s stock valued at $39,848,000 after purchasing an additional 76,829 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CTSH. Royal Bank Of Canada dropped their price objective on shares of Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 30th. Wells Fargo & Company reissued an “overweight” rating and set a $98.00 target price (up from $87.00) on shares of Cognizant Technology Solutions in a research report on Wednesday, January 14th. Berenberg Bank set a $107.00 price objective on Cognizant Technology Solutions and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Citigroup reissued a “neutral” rating and issued a $86.00 price target (up from $75.00) on shares of Cognizant Technology Solutions in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $84.00 price objective on shares of Cognizant Technology Solutions in a research note on Wednesday, October 29th. Nine research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $90.17.

Cognizant Technology Solutions Trading Down 1.6%

Shares of CTSH stock opened at $83.30 on Thursday. The firm has a market cap of $40.20 billion, a P/E ratio of 19.33, a PEG ratio of 1.62 and a beta of 0.96. The company has a 50 day moving average of $82.47 and a 200-day moving average of $74.83. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions Corporation has a 12-month low of $65.15 and a 12-month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.09. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. Sell-side analysts anticipate that Cognizant Technology Solutions Corporation will post 4.98 earnings per share for the current year.

Insider Transactions at Cognizant Technology Solutions

In other news, Director Michael Patsalos-Fox sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $84.23, for a total value of $168,460.00. Following the completion of the transaction, the director directly owned 29,729 shares in the company, valued at approximately $2,504,073.67. This trade represents a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ravi Kumar Singisetti sold 2,950 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $85.06, for a total transaction of $250,927.00. Following the sale, the chief executive officer directly owned 75,209 shares in the company, valued at $6,397,277.54. This trade represents a 3.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 27,706 shares of company stock valued at $2,317,281. 0.32% of the stock is currently owned by corporate insiders.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.