Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Lowered to $78.00 at Susquehanna

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price lowered by Susquehanna from $80.00 to $78.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the information technology service provider’s stock.

Several other equities research analysts have also recently commented on the stock. Jefferies Financial Group upgraded shares of Cognizant Technology Solutions from a hold rating to a buy rating and boosted their price target for the stock from $70.00 to $85.00 in a research report on Thursday, January 11th. Mizuho initiated coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, January 30th. They set a neutral rating and a $82.00 target price for the company. Needham & Company LLC restated a hold rating on shares of Cognizant Technology Solutions in a research report on Thursday. Barclays dropped their price target on Cognizant Technology Solutions from $80.00 to $75.00 and set an equal weight rating on the stock in a report on Friday, April 26th. Finally, Guggenheim started coverage on Cognizant Technology Solutions in a report on Tuesday, March 19th. They issued a neutral rating and a $80.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $75.63.

Cognizant Technology Solutions Price Performance

Shares of CTSH stock traded down $0.02 during midday trading on Thursday, reaching $66.25. 7,399,746 shares of the company were exchanged, compared to its average volume of 3,943,487. The company’s 50 day moving average price is $72.31 and its two-hundred day moving average price is $72.46. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.25 and a current ratio of 2.35. The company has a market cap of $32.98 billion, a P/E ratio of 15.93, a PEG ratio of 1.51 and a beta of 1.08. Cognizant Technology Solutions has a 12 month low of $60.26 and a 12 month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter in the previous year, the company earned $1.11 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, sell-side analysts expect that Cognizant Technology Solutions will post 4.59 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend is Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Insider Activity at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now owns 8,312 shares in the company, valued at $640,522.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Hedge funds have recently bought and sold shares of the business. IFG Advisory LLC increased its holdings in shares of Cognizant Technology Solutions by 45.1% during the 4th quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock valued at $5,070,000 after acquiring an additional 20,874 shares during the last quarter. Qube Research & Technologies Ltd raised its position in shares of Cognizant Technology Solutions by 36.0% in the third quarter. Qube Research & Technologies Ltd now owns 1,227,411 shares of the information technology service provider’s stock valued at $83,145,000 after purchasing an additional 324,638 shares during the period. PGGM Investments boosted its holdings in shares of Cognizant Technology Solutions by 53.8% during the 3rd quarter. PGGM Investments now owns 74,411 shares of the information technology service provider’s stock worth $5,041,000 after buying an additional 26,035 shares during the period. Assenagon Asset Management S.A. grew its stake in Cognizant Technology Solutions by 110.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,344,587 shares of the information technology service provider’s stock valued at $91,082,000 after buying an additional 704,932 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its holdings in Cognizant Technology Solutions by 4.4% in the 4th quarter. Perigon Wealth Management LLC now owns 4,743 shares of the information technology service provider’s stock worth $358,000 after acquiring an additional 199 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

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.