Public Employees Retirement System of Ohio Sells 1,135 Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH)

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Public Employees Retirement System of Ohio trimmed its position in shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 0.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 410,013 shares of the information technology service provider’s stock after selling 1,135 shares during the period. Public Employees Retirement System of Ohio owned about 0.07% of Cognizant Technology Solutions worth $32,387,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CTSH. Rainier Group Investment Advisory LLC bought a new position in shares of Cognizant Technology Solutions during the first quarter valued at approximately $100,000. Kaizen Advisory LLC increased its stake in shares of Cognizant Technology Solutions by 149.4% during the second quarter. Kaizen Advisory LLC now owns 1,429 shares of the information technology service provider’s stock valued at $113,000 after purchasing an additional 856 shares in the last quarter. Fort L.P. bought a new position in shares of Cognizant Technology Solutions during the second quarter valued at approximately $123,000. San Francisco Sentry Investment Group CA increased its stake in shares of Cognizant Technology Solutions by 170.0% during the second quarter. San Francisco Sentry Investment Group CA now owns 1,909 shares of the information technology service provider’s stock valued at $151,000 after purchasing an additional 1,202 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Cognizant Technology Solutions by 65.5% during the second quarter. Parallel Advisors LLC now owns 2,226 shares of the information technology service provider’s stock valued at $175,000 after purchasing an additional 881 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP Robert Telesmanic sold 834 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $77.15, for a total transaction of $64,343.10. Following the completion of the transaction, the senior vice president now directly owns 18,823 shares of the company’s stock, valued at approximately $1,452,194.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gajakarnan Vibushanan Kandiah sold 665 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $77.60, for a total transaction of $51,604.00. Following the transaction, the insider now directly owns 14,683 shares of the company’s stock, valued at $1,139,400.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,288 shares of company stock valued at $3,694,551. 0.60% of the stock is owned by corporate insiders.

Shares of NASDAQ:CTSH opened at $72.17 on Friday. Cognizant Technology Solutions Corp has a 52 week low of $69.69 and a 52 week high of $85.10. The firm has a market capitalization of $44.76 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 1.42 and a beta of 0.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.27 and a quick ratio of 3.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Thursday, August 2nd. The information technology service provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.09. Cognizant Technology Solutions had a net margin of 9.37% and a return on equity of 21.66%. The business had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.03 billion. During the same period last year, the company posted $0.93 EPS. The business’s revenue was up 9.2% on a year-over-year basis. As a group, research analysts expect that Cognizant Technology Solutions Corp will post 4.18 EPS for the current fiscal year.

A number of equities analysts have weighed in on CTSH shares. Moffett Nathanson started coverage on shares of Cognizant Technology Solutions in a research note on Thursday, October 4th. They set a “neutral” rating and a $85.00 target price for the company. Cowen reaffirmed a “buy” rating and set a $87.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, August 3rd. Bank of America cut shares of Cognizant Technology Solutions from a “buy” rating to an “underperform” rating and cut their price target for the company from $91.00 to $81.00 in a report on Tuesday, September 4th. BMO Capital Markets reiterated a “buy” rating and set a $85.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, August 2nd. Finally, JPMorgan Chase & Co. cut shares of Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and set a $66.00 price target on the stock. in a report on Tuesday, August 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Cognizant Technology Solutions has an average rating of “Buy” and an average price target of $85.73.

Cognizant Technology Solutions Company Profile

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 business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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

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