Cognizant Technology Solutions (NASDAQ:CTSH) Reaches New 52-Week High – Time to Buy?

Cognizant Technology Solutions Co. (NASDAQ:CTSH) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $82.22 and last traded at $82.11, with a volume of 438493 shares trading hands. The stock had previously closed at $81.74.

Wall Street Analyst Weigh In

CTSH has been the subject of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Robert W. Baird increased their price objective on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. StockNews.com lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $76.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $78.83.

Cognizant Technology Solutions Trading Up 0.6 %

The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The stock has a market cap of $40.78 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 2.25 and a beta of 1.05. The company has a fifty day simple moving average of $76.64 and a 200-day simple moving average of $72.63.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same period last year, the company posted $1.16 earnings per share. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, research analysts forecast that Cognizant Technology Solutions Co. will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.46%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is currently 26.55%.

Institutional Investors Weigh In On Cognizant Technology Solutions

Institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC bought a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth $1,972,000. Blair William & Co. IL increased its holdings in shares of Cognizant Technology Solutions by 2.5% during the 1st quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock worth $1,231,000 after purchasing an additional 412 shares during the period. Trinity Legacy Partners LLC raised its position in shares of Cognizant Technology Solutions by 14.3% during the third quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock valued at $4,629,000 after buying an additional 7,547 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Cognizant Technology Solutions by 8.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 650,385 shares of the information technology service provider’s stock worth $47,667,000 after buying an additional 53,061 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in Cognizant Technology Solutions by 135.4% in the 1st quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider’s stock valued at $2,441,000 after acquiring an additional 19,157 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Company 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.