Cognizant Technology Solutions Co. (NASDAQ:CTSH) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 4.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 352,718 shares of the information technology service provider’s stock after selling 18,264 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.07% of Cognizant Technology Solutions worth $24,486,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Cornerstone Advisors Inc. grew its stake in shares of Cognizant Technology Solutions by 16.6% in the third quarter. Cornerstone Advisors Inc. now owns 1,104 shares of the information technology service provider’s stock valued at $77,000 after buying an additional 157 shares in the last quarter. Ancora Advisors LLC grew its position in shares of Cognizant Technology Solutions by 0.5% in the 2nd quarter. Ancora Advisors LLC now owns 34,738 shares of the information technology service provider’s stock worth $1,974,000 after acquiring an additional 169 shares in the last quarter. West Bancorporation Inc. grew its position in shares of Cognizant Technology Solutions by 12.3% in the 2nd quarter. West Bancorporation Inc. now owns 1,809 shares of the information technology service provider’s stock worth $103,000 after acquiring an additional 198 shares in the last quarter. Aries Wealth Management grew its position in shares of Cognizant Technology Solutions by 6.0% in the 3rd quarter. Aries Wealth Management now owns 3,738 shares of the information technology service provider’s stock worth $259,000 after acquiring an additional 210 shares in the last quarter. Finally, Independence Bank of Kentucky grew its position in shares of Cognizant Technology Solutions by 55.6% in the 3rd quarter. Independence Bank of Kentucky now owns 630 shares of the information technology service provider’s stock worth $44,000 after acquiring an additional 225 shares in the last quarter. Institutional investors and hedge funds own 89.68% of the company’s stock.

In other Cognizant Technology Solutions news, insider Dharmendra Kumar Sinha sold 25,000 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $68.33, for a total value of $1,708,250.00. Following the completion of the sale, the insider now owns 42,440 shares of the company’s stock, valued at $2,899,925.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Nelson Fox, Jr. sold 6,140 shares of the business’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $67.67, for a total value of $415,493.80. Following the completion of the sale, the director now directly owns 46,827 shares of the company’s stock, valued at approximately $3,168,783.09. The disclosure for this sale can be found here. Insiders sold 67,037 shares of company stock valued at $4,644,959 in the last ninety days. Insiders own 0.31% of the company’s stock.

Shares of NASDAQ CTSH opened at $71.10 on Thursday. The stock has a market capitalization of $38.55 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 1.89 and a beta of 1.17. Cognizant Technology Solutions Co. has a 52-week low of $40.01 and a 52-week high of $75.32. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $70.55 and its 200 day simple moving average is $61.66.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 28th. The information technology service provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.07. Cognizant Technology Solutions had a return on equity of 19.87% and a net margin of 9.67%. As a group, analysts anticipate that Cognizant Technology Solutions Co. will post 3.56 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Thursday, November 19th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.24%. Cognizant Technology Solutions’s dividend payout ratio is currently 22.06%.

Several research analysts have recently commented on CTSH shares. Wedbush upgraded Cognizant Technology Solutions from an “underweight” rating to an “underperform” rating and set a $68.00 target price for the company in a research report on Thursday, July 30th. TheStreet raised Cognizant Technology Solutions from a “c+” rating to a “b-” rating in a report on Thursday, August 13th. BidaskClub raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Wednesday, September 30th. Needham & Company LLC raised Cognizant Technology Solutions from an “underperform” rating to a “hold” rating in a report on Thursday, July 30th. Finally, Wells Fargo & Company raised their price target on Cognizant Technology Solutions from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $69.62.

Cognizant Technology Solutions Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.

Featured Story: Put Option Volume

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

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.