Cognizant Technology Solutions Co. (NASDAQ:CTSH) Receives $77.44 Average Price Target from Analysts

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) have been given an average rating of “Hold” by the twenty-one brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seventeen have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $77.44.

Several equities analysts recently issued reports on CTSH shares. Barclays upped their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Robert W. Baird upped their target price on Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Mizuho reissued a “neutral” rating and issued a $82.00 target price on shares of Cognizant Technology Solutions in a research report on Tuesday, June 11th. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th.

Insider Activity at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the transaction, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CTSH. 1620 Investment Advisors Inc. acquired a new stake in Cognizant Technology Solutions in the 2nd quarter valued at about $25,000. LRI Investments LLC acquired a new stake in shares of Cognizant Technology Solutions during the 1st quarter worth approximately $28,000. Benjamin Edwards Inc. increased its holdings in shares of Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after buying an additional 158 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at approximately $40,000. Finally, Unique Wealth Strategies LLC acquired a new stake in Cognizant Technology Solutions in the 2nd quarter valued at approximately $40,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $75.35 on Friday. The business’s fifty day simple moving average is $75.21 and its 200-day simple moving average is $71.43. The company has a market cap of $37.46 billion, a PE ratio of 18.11, a PEG ratio of 2.14 and a beta of 1.05. 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 12-month low of $62.14 and a 12-month high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the firm earned $1.10 EPS. The firm’s revenue was down .7% on a year-over-year basis. Analysts expect that Cognizant Technology Solutions will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

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.