Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Increased to $89.00 by Analysts at JPMorgan Chase & Co.

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price upped by JPMorgan Chase & Co. from $82.00 to $89.00 in a research report report published on Friday, Benzinga reports. They currently have a neutral rating on the information technology service provider’s stock.

Several other analysts have also recently issued reports on CTSH. The Goldman Sachs Group boosted their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a neutral rating in a research note on Wednesday, August 28th. Royal Bank of Canada upped their price target on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a sector perform rating in a research note on Wednesday, August 28th. Jefferies Financial Group started coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They issued a buy rating and a $90.00 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 report on Tuesday, June 11th. Finally, Bank of America upgraded shares of Cognizant Technology Solutions from an underperform rating to a neutral rating and raised their price target for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $77.44.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock opened at $75.84 on Friday. The stock has a fifty day moving average price of $73.84 and a 200 day moving average price of $71.60. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions has a 52 week low of $62.14 and a 52 week high of $80.27. The firm has a market capitalization of $37.71 billion, a P/E ratio of 18.23, a PEG ratio of 2.21 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the firm posted $1.10 EPS. The company’s revenue was down .7% on a year-over-year basis. Equities research analysts anticipate that Cognizant Technology Solutions will post 4.62 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.58%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the transaction, the chief executive officer now owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. 1620 Investment Advisors Inc. acquired a new stake in Cognizant Technology Solutions during the second quarter worth about $25,000. LRI Investments LLC acquired a new stake in shares of Cognizant Technology Solutions during the 1st quarter worth approximately $28,000. Spire Wealth Management lifted its holdings 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 worth $34,000 after purchasing an additional 193 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Cognizant Technology Solutions during the 4th quarter valued at approximately $40,000. Finally, Benjamin Edwards Inc. lifted its position in Cognizant Technology Solutions by 42.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 158 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

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.