Louisiana State Employees Retirement System Reduces Holdings in Cognizant Technology Solutions Corp (CTSH)

Louisiana State Employees Retirement System lowered its stake in Cognizant Technology Solutions Corp (NASDAQ:CTSH) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,700 shares of the information technology service provider’s stock after selling 1,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Cognizant Technology Solutions were worth $2,535,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Linscomb & Williams Inc. acquired a new stake in Cognizant Technology Solutions during the 3rd quarter valued at $278,000. Robeco Institutional Asset Management B.V. raised its stake in Cognizant Technology Solutions by 45.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 143,385 shares of the information technology service provider’s stock valued at $10,401,000 after purchasing an additional 44,982 shares during the period. Rothschild Asset Management Inc. acquired a new stake in Cognizant Technology Solutions during the 3rd quarter valued at $12,538,000. Palladium Partners LLC raised its stake in Cognizant Technology Solutions by 2.5% during the 3rd quarter. Palladium Partners LLC now owns 98,625 shares of the information technology service provider’s stock valued at $7,154,000 after purchasing an additional 2,425 shares during the period. Finally, Aurora Investment Counsel acquired a new stake in Cognizant Technology Solutions during the 4th quarter valued at $1,252,000. 86.04% of the stock is currently owned by institutional investors.

CTSH has been the topic of several recent analyst reports. KeyCorp reissued a “buy” rating and set a $79.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, October 12th. Cowen reissued a “buy” rating and set a $80.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, October 12th. Jefferies Group reissued a “buy” rating and set a $81.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, October 12th. Zacks Investment Research raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Tuesday, October 10th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $77.00 target price on shares of Cognizant Technology Solutions in a research note on Sunday, October 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $81.83.

In related news, Director John Nelson Fox, Jr. sold 19,500 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $72.00, for a total value of $1,404,000.00. Following the completion of the sale, the director now directly owns 55,090 shares in the company, valued at $3,966,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Francisco Dsouza sold 240,000 shares of the company’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $74.04, for a total transaction of $17,769,600.00. Following the completion of the sale, the chief executive officer now owns 541,667 shares of the company’s stock, valued at $40,105,024.68. The disclosure for this sale can be found here. Insiders sold 807,286 shares of company stock worth $58,679,209 over the last ninety days. 1.08% of the stock is currently owned by company insiders.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at $75.84 on Thursday. Cognizant Technology Solutions Corp has a one year low of $51.52 and a one year high of $76.51. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. The firm has a market cap of $44,064.18, a price-to-earnings ratio of 23.41, a PEG ratio of 1.43 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the prior year, the business posted $0.86 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 9.1% compared to the same quarter last year. research analysts predict that Cognizant Technology Solutions Corp will post 3.35 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Louisiana State Employees Retirement System Reduces Holdings in Cognizant Technology Solutions Corp (CTSH)” was first reported by Ticker Report and is the property of of Ticker Report. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://www.tickerreport.com/banking-finance/3143982/louisiana-state-employees-retirement-system-reduces-holdings-in-cognizant-technology-solutions-corp-ctsh.html.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2018 Ticker Report. Google+.