Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Raised to $81.00 at Royal Bank of Canada

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price boosted by Royal Bank of Canada from $77.00 to $81.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a sector perform rating on the information technology service provider’s stock.

A number of other equities analysts have also recently issued reports on CTSH. Citigroup cut their target price on Cognizant Technology Solutions from $90.00 to $82.00 and set a buy rating on the stock in a report on Monday, April 22nd. 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 on the stock in a research report on Tuesday, April 30th. Wedbush restated an outperform rating and issued a $85.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, May 2nd. Susquehanna dropped their price objective on Cognizant Technology Solutions from $80.00 to $78.00 and set a neutral rating on the stock in a research note on Thursday, May 2nd. Finally, Robert W. Baird upped their price objective on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a neutral rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $76.12.

Cognizant Technology Solutions Trading Down 2.7 %

Shares of CTSH stock traded down $2.04 during mid-day trading on Thursday, reaching $74.27. 1,490,368 shares of the stock traded hands, compared to its average volume of 4,134,802. Cognizant Technology Solutions has a 1-year low of $62.14 and a 1-year high of $80.27. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.04. The company has a market cap of $36.93 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 2.26 and a beta of 1.05. The stock’s fifty day simple moving average is $69.24 and its two-hundred day simple moving average is $71.90.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.54%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.10 earnings per share. On average, research analysts anticipate that Cognizant Technology Solutions will post 4.61 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.85%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CTSH. Vanguard Group Inc. grew its stake in shares of Cognizant Technology Solutions by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after acquiring an additional 7,445,089 shares during the period. Norges Bank purchased a new stake in Cognizant Technology Solutions during the fourth quarter valued at $406,360,000. Cibc World Markets Corp lifted its holdings in Cognizant Technology Solutions by 1,861.7% in the fourth quarter. Cibc World Markets Corp now owns 1,686,597 shares of the information technology service provider’s stock valued at $127,389,000 after acquiring an additional 1,600,621 shares during the period. KBC Group NV increased its position in shares of Cognizant Technology Solutions by 2,083.8% during the 4th quarter. KBC Group NV now owns 1,422,912 shares of the information technology service provider’s stock valued at $107,473,000 after purchasing an additional 1,357,755 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Cognizant Technology Solutions by 129.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,904,263 shares of the information technology service provider’s stock worth $139,565,000 after buying an additional 1,073,666 shares during the last quarter. Hedge funds and other institutional investors 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.