Municipal Employees Retirement System of Michigan bought a new stake in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) during the fourth quarter, HoldingsChannel.com reports. The fund bought 15,530 shares of the information technology service provider’s stock, valued at approximately $986,000.

Other large investors have also bought and sold shares of the company. Plimoth Trust Co. LLC lifted its stake in Cognizant Technology Solutions by 0.6% in the 4th quarter. Plimoth Trust Co. LLC now owns 24,088 shares of the information technology service provider’s stock valued at $1,529,000 after buying an additional 145 shares in the last quarter. Van ECK Associates Corp lifted its stake in Cognizant Technology Solutions by 2.0% in the 4th quarter. Van ECK Associates Corp now owns 8,038 shares of the information technology service provider’s stock valued at $510,000 after buying an additional 155 shares in the last quarter. Cozad Asset Management Inc. lifted its stake in Cognizant Technology Solutions by 2.0% in the 4th quarter. Cozad Asset Management Inc. now owns 8,828 shares of the information technology service provider’s stock valued at $560,000 after buying an additional 172 shares in the last quarter. MAI Capital Management lifted its stake in Cognizant Technology Solutions by 0.6% in the 4th quarter. MAI Capital Management now owns 28,965 shares of the information technology service provider’s stock valued at $1,839,000 after buying an additional 175 shares in the last quarter. Finally, First Interstate Bank lifted its stake in Cognizant Technology Solutions by 9.3% in the 4th quarter. First Interstate Bank now owns 2,133 shares of the information technology service provider’s stock valued at $135,000 after buying an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 88.54% of the company’s stock.

A number of research analysts recently weighed in on the stock. BidaskClub raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, January 22nd. Zacks Investment Research lowered shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research note on Monday, February 11th. Daiwa Capital Markets began coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, February 13th. They issued a “buy” rating and a $90.00 price target on the stock. BMO Capital Markets raised their target price on shares of Cognizant Technology Solutions to $80.00 and gave the stock a “market perform” rating in a research note on Monday, February 4th. Finally, Cowen lowered shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and set a $67.98 target price on the stock. in a research note on Sunday, December 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Cognizant Technology Solutions has a consensus rating of “Hold” and an average target price of $81.19.

CTSH opened at $70.75 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.12 and a current ratio of 3.12. Cognizant Technology Solutions Corp has a 1-year low of $59.47 and a 1-year high of $83.35. The company has a market capitalization of $40.77 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.58 and a beta of 0.97.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 6th. The information technology service provider reported $1.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.07. Cognizant Technology Solutions had a net margin of 13.03% and a return on equity of 22.15%. The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same period last year, the company posted $1.03 EPS. The business’s revenue was up 7.9% on a year-over-year basis. Sell-side analysts forecast that Cognizant Technology Solutions Corp will post 4.44 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Thursday, February 21st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Wednesday, February 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 19.90%.

In other news, SVP Robert Telesmanic sold 3,477 shares of Cognizant Technology Solutions stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $73.41, for a total transaction of $255,246.57. Following the sale, the senior vice president now owns 10,284 shares of the company’s stock, valued at approximately $754,948.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Malcolm Frank sold 7,251 shares of Cognizant Technology Solutions stock in a transaction that occurred on Thursday, January 3rd. The shares were sold at an average price of $61.88, for a total transaction of $448,691.88. Following the sale, the vice president now directly owns 26,289 shares in the company, valued at approximately $1,626,763.32. The disclosure for this sale can be found here. Insiders sold a total of 57,533 shares of company stock worth $4,032,493 over the last three months. Corporate insiders own 0.60% of the company’s stock.

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About Cognizant Technology Solutions

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 analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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

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