Alaska Permanent Fund Corp Has $5.02 Million Stake in Cognizant Technology Solutions Co. (NASDAQ:CTSH)

Alaska Permanent Fund Corp lessened its holdings in shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) by 3.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 68,541 shares of the information technology service provider’s stock after selling 2,459 shares during the period. Alaska Permanent Fund Corp’s holdings in Cognizant Technology Solutions were worth $5,023,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC bought a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $26,000. Spire Wealth Management increased its stake in shares of Cognizant Technology Solutions by 79.1% in the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after buying an additional 193 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $40,000. Quarry LP acquired a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at $43,000. Finally, Valley National Advisers Inc. boosted its holdings in Cognizant Technology Solutions by 43.2% in the fourth quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after acquiring an additional 178 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $68.14 on Friday. The stock has a 50 day simple moving average of $67.08 and a 200 day simple moving average of $72.44. Cognizant Technology Solutions Co. has a 52-week low of $61.23 and a 52-week high of $80.09. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. The firm has a market capitalization of $33.88 billion, a PE ratio of 16.38, a P/E/G ratio of 1.97 and a beta of 1.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.11 earnings per share. Sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.61 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio is 28.85%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CTSH. Wedbush reissued an “outperform” rating and set a $85.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, May 2nd. BMO Capital Markets dropped their price target on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. Guggenheim started coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price objective on the stock. Mizuho reiterated a “neutral” rating and set a $82.00 target price on shares of Cognizant Technology Solutions in a research report on Tuesday, June 11th. Finally, JPMorgan Chase & Co. cut their price target on Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $75.67.

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. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.