Cognizant Technology Solutions Co. (CTSH) to Issue Quarterly Dividend of $0.30 on November 27th

Cognizant Technology Solutions Co. (NASDAQ:CTSH) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Tuesday, November 19th will be given a dividend of 0.30 per share by the information technology service provider on Wednesday, November 27th. This represents a $1.20 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, November 19th.

Cognizant Technology Solutions has increased its dividend payment by an average of 9.7% annually over the last three years. Cognizant Technology Solutions has a payout ratio of 24.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cognizant Technology Solutions to earn $4.95 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 24.2%.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock traded down $1.17 on Friday, reaching $73.42. The company’s stock had a trading volume of 460,146 shares, compared to its average volume of 3,809,907. The business’s fifty day moving average price is $76.40 and its 200 day moving average price is $71.94. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. The company has a market cap of $36.39 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 2.09 and a beta of 1.05. Cognizant Technology Solutions has a twelve month low of $62.14 and a twelve month high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.37%. The firm had revenue of $5.04 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The company’s revenue was up 3.0% on a year-over-year basis. Equities analysts expect that Cognizant Technology Solutions will post 4.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price objective on the stock. Robert W. Baird raised their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday. Finally, Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $73.00 to $75.00 in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $77.60.

Insider Activity

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the sale, the chief executive officer now directly owns 46,427 shares in the company, valued at $3,419,812.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.26% 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.