Cognizant Technology Solutions Corp (NASDAQ:CTSH) announced a quarterly dividend on Wednesday, July 29th, RTT News reports. Shareholders of record on Friday, August 21st will be given a dividend of 0.22 per share by the information technology service provider on Monday, August 31st. This represents a $0.88 dividend on an annualized basis and a yield of 1.27%.
Cognizant Technology Solutions has a dividend payout ratio of 25.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cognizant Technology Solutions to earn $3.92 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 22.4%.
Cognizant Technology Solutions stock opened at $69.18 on Friday. The business has a fifty day moving average of $57.27 and a two-hundred day moving average of $56.91. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The firm has a market cap of $35.02 billion, a P/E ratio of 16.49, a P/E/G ratio of 1.77 and a beta of 1.15. Cognizant Technology Solutions has a twelve month low of $40.01 and a twelve month high of $71.48.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, July 29th. The information technology service provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.13. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.84 billion. Cognizant Technology Solutions had a return on equity of 19.96% and a net margin of 9.67%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 earnings per share. Equities analysts expect that Cognizant Technology Solutions will post 3.33 earnings per share for the current year.
In related news, General Counsel Matthew W. Friedrich sold 459 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $54.62, for a total value of $25,070.58. Following the transaction, the general counsel now directly owns 1,072 shares of the company’s stock, valued at approximately $58,552.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Malcolm Frank sold 1,492 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $54.83, for a total transaction of $81,806.36. Following the completion of the transaction, the insider now directly owns 32,924 shares in the company, valued at $1,805,222.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,794 shares of company stock worth $318,107. Corporate insiders own 0.31% of the company’s stock.
A number of equities analysts have recently issued reports on CTSH shares. Citigroup upped their price target on Cognizant Technology Solutions from $66.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday. BMO Capital Markets raised Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $64.00 to $70.00 in a research report on Wednesday, July 15th. UBS Group reduced their price target on Cognizant Technology Solutions from $57.00 to $37.00 and set a “sell” rating on the stock in a research report on Tuesday, April 7th. Wells Fargo & Co upped their target price on Cognizant Technology Solutions from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Robert W. Baird upped their target price on Cognizant Technology Solutions from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Tuesday. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $66.67.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.
Recommended Story: Why is Cost of Capital Important?
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.