BidaskClub upgraded shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a sell rating to a hold rating in a research note published on Friday, January 19th.
Other equities research analysts also recently issued reports about the company. KeyCorp reiterated a buy rating and issued a $79.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, October 12th. Cowen reiterated a buy rating and issued a $80.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, October 12th. Jefferies Group reiterated a buy rating and issued a $81.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, October 12th. Zacks Investment Research upgraded Cognizant Technology Solutions from a hold rating to a buy rating and set a $82.00 target price for the company in a report on Tuesday, October 10th. Finally, Royal Bank of Canada reiterated a buy rating and issued a $77.00 target price on shares of Cognizant Technology Solutions in a report on Sunday, October 8th. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $84.21.
Cognizant Technology Solutions (CTSH) traded up $1.14 during trading on Friday, hitting $77.43. The company had a trading volume of 5,633,809 shares, compared to its average volume of 3,860,000. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.21. The firm has a market capitalization of $45,660.00, a price-to-earnings ratio of 30.73, a P/E/G ratio of 1.53 and a beta of 1.11. Cognizant Technology Solutions has a one year low of $57.00 and a one year high of $79.28.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, February 7th. The information technology service provider reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.15. The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.82 billion. Cognizant Technology Solutions had a return on equity of 19.94% and a net margin of 10.15%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 earnings per share. analysts predict that Cognizant Technology Solutions will post 3.97 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Thursday, February 22nd will be issued a dividend of $0.20 per share. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.03%. Cognizant Technology Solutions’s payout ratio is currently 23.81%.
In related news, CFO Karen Mcloughlin sold 9,482 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $72.24, for a total transaction of $684,979.68. Following the completion of the sale, the chief financial officer now owns 52,200 shares in the company, valued at $3,770,928. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Francisco Dsouza sold 482,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $72.04, for a total value of $34,723,280.00. Following the sale, the chief executive officer now owns 621,643 shares of the company’s stock, valued at approximately $44,783,161.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 994,079 shares of company stock valued at $73,129,749. Corporate insiders own 1.08% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Shine Investment Advisory Services Inc. grew its holdings in Cognizant Technology Solutions by 108.8% during the fourth quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock worth $107,000 after buying an additional 788 shares in the last quarter. Vestpro Financial Partners Inc. dba CPF Texas bought a new stake in Cognizant Technology Solutions during the fourth quarter worth $107,000. Bank of Nova Scotia Trust Co. bought a new stake in Cognizant Technology Solutions during the third quarter worth $121,000. Cerebellum GP LLC bought a new stake in Cognizant Technology Solutions during the fourth quarter worth $128,000. Finally, WFG Advisors LP grew its holdings in Cognizant Technology Solutions by 46.4% during the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after buying an additional 621 shares in the last quarter. Institutional investors and hedge funds own 86.87% of the company’s stock.
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Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.
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