Illinois Municipal Retirement Fund Trims Position in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Illinois Municipal Retirement Fund trimmed its position in Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 0.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 262,020 shares of the information technology service provider’s stock after selling 472 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of Cognizant Technology Solutions worth $20,149,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CTSH. International Assets Investment Management LLC purchased a new stake in Cognizant Technology Solutions in the third quarter worth $1,972,000. Ballentine Partners LLC boosted its holdings in Cognizant Technology Solutions by 18.9% in the third quarter. Ballentine Partners LLC now owns 6,874 shares of the information technology service provider’s stock worth $531,000 after acquiring an additional 1,091 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cognizant Technology Solutions by 21.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 120,832 shares of the information technology service provider’s stock worth $9,291,000 after acquiring an additional 21,592 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Cognizant Technology Solutions by 8.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 46,134 shares of the information technology service provider’s stock worth $3,561,000 after acquiring an additional 3,647 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Cognizant Technology Solutions by 1.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,275,786 shares of the information technology service provider’s stock worth $97,601,000 after acquiring an additional 18,861 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $84.55 on Tuesday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The business has a 50-day simple moving average of $81.18 and a two-hundred day simple moving average of $78.73. The stock has a market cap of $41.82 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 2.11 and a beta of 1.07. Cognizant Technology Solutions Co. has a 52 week low of $63.79 and a 52 week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. On average, analysts expect that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th will be given a dividend of $0.31 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.47%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 27.49%.

Insider Buying and Selling

In related news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the sale, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CTSH has been the topic of several analyst reports. Barclays boosted their target price on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Robert W. Baird boosted their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Morgan Stanley upped their price target on Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Mizuho upped their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Sixteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and an average price target of $83.67.

About Cognizant Technology Solutions

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, Health Sciences, Products and Resources, and Communications, Media and Technology.