Arizona State Retirement System increased its position in Cognizant Technology Solutions Corporation (NASDAQ:CTSH) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,658 shares of the information technology service provider’s stock after buying an additional 700 shares during the period. Arizona State Retirement System’s holdings in Cognizant Technology Solutions Corporation were worth $8,967,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in CTSH. Edgewood Management LLC raised its stake in shares of Cognizant Technology Solutions Corporation by 25.3% in the fourth quarter. Edgewood Management LLC now owns 14,149,600 shares of the information technology service provider’s stock worth $792,802,000 after buying an additional 2,860,888 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Cognizant Technology Solutions Corporation by 190.9% in the fourth quarter. Franklin Resources Inc. now owns 12,383,985 shares of the information technology service provider’s stock worth $693,948,000 after buying an additional 8,126,603 shares in the last quarter. Swedbank raised its stake in shares of Cognizant Technology Solutions Corporation by 2.6% in the first quarter. Swedbank now owns 7,731,077 shares of the information technology service provider’s stock worth $460,154,000 after buying an additional 194,890 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of Cognizant Technology Solutions Corporation by 41.9% in the first quarter. Pzena Investment Management LLC now owns 6,713,981 shares of the information technology service provider’s stock worth $399,616,000 after buying an additional 1,981,287 shares in the last quarter. Finally, Brown Advisory Inc. raised its stake in shares of Cognizant Technology Solutions Corporation by 0.4% in the fourth quarter. Brown Advisory Inc. now owns 6,572,999 shares of the information technology service provider’s stock worth $368,286,000 after buying an additional 27,299 shares in the last quarter. Hedge funds and other institutional investors own 91.09% of the company’s stock.

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

Shares of Cognizant Technology Solutions Corporation (CTSH) opened at 66.59 on Friday. The stock’s 50 day moving average is $65.11 and its 200 day moving average is $59.30. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $67.88. The company has a market cap of $39.22 billion, a PE ratio of 24.22 and a beta of 1.14.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its earnings results on Friday, May 5th. The information technology service provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. Cognizant Technology Solutions Corporation had a return on equity of 18.77% and a net margin of 12.07%. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same quarter last year, the firm posted $0.80 EPS. The business’s revenue was up 10.7% on a year-over-year basis. Equities analysts forecast that Cognizant Technology Solutions Corporation will post $3.66 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Stockholders of record on Tuesday, May 23rd were given a dividend of $0.15 per share. The ex-dividend date was Thursday, May 18th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.90%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is 21.90%.

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CTSH has been the subject of a number of research analyst reports. Needham & Company LLC lifted their price target on shares of Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. Vetr lowered shares of Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating and set a $67.50 price target for the company. in a research note on Monday, May 1st. Deutsche Bank AG reiterated a “buy” rating and issued a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, May 31st. Berenberg Bank initiated coverage on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, March 29th. They issued a “hold” rating and a $65.00 price target for the company. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $67.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the stock. Cognizant Technology Solutions Corporation currently has an average rating of “Buy” and an average price target of $65.53.

In other news, insider Sean Middleton sold 1,890 shares of the stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $60.00, for a total transaction of $113,400.00. Following the transaction, the insider now owns 5,888 shares in the company, valued at approximately $353,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Venkat Krishnaswamy sold 6,438 shares of the stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $64.15, for a total value of $412,997.70. Following the transaction, the insider now owns 22,363 shares in the company, valued at approximately $1,434,586.45. The disclosure for this sale can be found here. Insiders have sold a total of 50,712 shares of company stock worth $3,306,626 in the last quarter. Insiders own 1.08% of the company’s stock.

About Cognizant Technology Solutions Corporation

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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