State of Michigan Retirement System grew its stake in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) by 12.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 157,125 shares of the information technology service provider’s stock after purchasing an additional 16,956 shares during the quarter. State of Michigan Retirement System’s holdings in Cognizant Technology Solutions were worth $13,940,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. GeoWealth Management LLC bought a new position in shares of Cognizant Technology Solutions during the third quarter valued at approximately $26,000. Arkadios Wealth Advisors grew its holdings in shares of Cognizant Technology Solutions by 52.0% during the third quarter. Arkadios Wealth Advisors now owns 409 shares of the information technology service provider’s stock valued at $30,000 after purchasing an additional 140 shares during the last quarter. Fieldpoint Private Securities LLC grew its holdings in shares of Cognizant Technology Solutions by 475.4% during the fourth quarter. Fieldpoint Private Securities LLC now owns 397 shares of the information technology service provider’s stock valued at $35,000 after purchasing an additional 328 shares during the last quarter. Lloyd Advisory Services LLC. bought a new position in shares of Cognizant Technology Solutions during the third quarter valued at approximately $46,000. Finally, CVA Family Office LLC grew its holdings in shares of Cognizant Technology Solutions by 1,410.3% during the fourth quarter. CVA Family Office LLC now owns 589 shares of the information technology service provider’s stock valued at $52,000 after purchasing an additional 550 shares during the last quarter. 90.15% of the stock is owned by institutional investors.

Shares of NASDAQ:CTSH opened at $89.67 on Friday. Cognizant Technology Solutions Co. has a one year low of $66.19 and a one year high of $93.47. The stock has a fifty day moving average of $87.99 and a 200-day moving average of $83.44. The company has a market capitalization of $47.04 billion, a PE ratio of 22.14, a price-to-earnings-growth ratio of 1.67 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.08 and a current ratio of 2.08.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last released its earnings results on Wednesday, February 2nd. The information technology service provider reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.06. The company had revenue of $4.78 billion during the quarter, compared to analyst estimates of $4.78 billion. Cognizant Technology Solutions had a return on equity of 19.00% and a net margin of 11.55%. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 earnings per share. As a group, research analysts forecast that Cognizant Technology Solutions Co. will post 4.57 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 1st. Stockholders of record on Friday, February 18th were issued a $0.27 dividend. The ex-dividend date of this dividend was Thursday, February 17th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.20%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.24. Cognizant Technology Solutions’s dividend payout ratio is presently 26.67%.

A number of equities analysts recently issued reports on CTSH shares. UBS Group raised Cognizant Technology Solutions from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $58.50 to $89.00 in a report on Thursday, January 20th. Barclays increased their price objective on Cognizant Technology Solutions from $78.00 to $85.00 and gave the stock an “underweight” rating in a report on Monday, February 7th. Cowen increased their price objective on Cognizant Technology Solutions from $93.00 to $98.00 in a report on Thursday, February 3rd. BMO Capital Markets increased their price objective on Cognizant Technology Solutions from $92.00 to $100.00 in a report on Thursday, February 3rd. Finally, The Goldman Sachs Group started coverage on Cognizant Technology Solutions in a report on Sunday, January 9th. They issued a “buy” rating and a $104.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Buy” and an average target price of $92.13.

In other news, insider Rajesh Nambiar sold 5,000 shares of the company’s stock in a transaction on Friday, February 11th. The shares were sold at an average price of $90.50, for a total value of $452,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Leo S. Jr. Mackay sold 4,778 shares of the company’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $88.52, for a total transaction of $422,948.56. The disclosure for this sale can be found here. Insiders sold 16,149 shares of company stock valued at $1,434,568 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

About Cognizant Technology Solutions (Get Rating)

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; Healthcare; Products and Resources; and Communications, Media and Technology.

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

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