Cognizant Technology Solutions Co. (NASDAQ:CTSH) Given Average Rating of “Hold” by Analysts

Cognizant Technology Solutions Co. (NASDAQ:CTSH) has earned an average recommendation of “Hold” from the twenty brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $80.35.

A number of analysts recently weighed in on the stock. StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 8th. Barclays raised Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $80.00 to $95.00 in a research report on Tuesday, December 17th. Mizuho increased their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $79.20 on Monday. The stock’s 50 day moving average price is $78.83 and its 200 day moving average price is $75.58. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The stock has a market cap of $39.27 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 2.24 and a beta of 1.06. Cognizant Technology Solutions has a 12 month low of $63.79 and a 12 month high of $82.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. Equities research analysts anticipate that Cognizant Technology Solutions will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is presently 26.55%.

Insider Buying and Selling at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the transaction, the chief accounting officer now directly owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in shares of Cognizant Technology Solutions by 5.0% in the third quarter. Principal Financial Group Inc. now owns 665,305 shares of the information technology service provider’s stock worth $51,348,000 after purchasing an additional 31,758 shares during the period. Retirement Systems of Alabama increased its position in Cognizant Technology Solutions by 3.5% in the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock worth $91,678,000 after buying an additional 40,226 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Cognizant Technology Solutions in the 3rd quarter worth approximately $155,000. World Investment Advisors LLC boosted its position in shares of Cognizant Technology Solutions by 21.8% in the third quarter. World Investment Advisors LLC now owns 5,634 shares of the information technology service provider’s stock valued at $435,000 after acquiring an additional 1,010 shares during the period. Finally, Tudor Financial Inc. acquired a new stake in shares of Cognizant Technology Solutions in the third quarter worth $225,000. 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.