Cognizant Technology Solutions Corp (NASDAQ:CTSH) has earned an average rating of “Buy” from the twenty-nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $84.87.
Several equities research analysts have recently commented on CTSH shares. Robert W. Baird upped their price target on Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, October 19th. BidaskClub cut Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. SunTrust Banks restated a “buy” rating and set a $85.00 price target on shares of Cognizant Technology Solutions in a research note on Friday, November 3rd. Zacks Investment Research upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research note on Tuesday, January 2nd. Finally, Morgan Stanley upped their price objective on Cognizant Technology Solutions from $77.00 to $84.00 and gave the stock an “equal weight” rating in a report on Monday, February 5th.
Cognizant Technology Solutions (CTSH) traded down $0.42 during trading on Friday, hitting $80.95. The stock had a trading volume of 4,616,471 shares, compared to its average volume of 4,080,000. Cognizant Technology Solutions has a twelve month low of $57.00 and a twelve month high of $81.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.21 and a quick ratio of 3.29. The stock has a market capitalization of $47,730.00, a PE ratio of 32.12, a PEG ratio of 1.50 and a beta of 1.11.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.15. Cognizant Technology Solutions had a return on equity of 19.94% and a net margin of 10.15%. The business had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the prior year, the business earned $0.87 earnings per share. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. sell-side analysts expect that Cognizant Technology Solutions will post 4.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 22nd will be issued a $0.20 dividend. This is a positive change 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 yield of 0.99%. Cognizant Technology Solutions’s dividend payout ratio is 23.81%.
In other Cognizant Technology Solutions news, 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 $44,783,161.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Srinivasan Veeraraghavachary sold 5,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $76.76, for a total value of $383,800.00. Following the completion of the sale, the chief operating officer now directly owns 24,072 shares in the company, valued at approximately $1,847,766.72. The disclosure for this sale can be found here. Insiders sold 1,111,296 shares of company stock worth $82,190,888 in the last three months. 1.08% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of CTSH. Shine Investment Advisory Services Inc. boosted its stake in shares of 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 valued at $107,000 after acquiring an additional 788 shares during the last quarter. Vestpro Financial Partners Inc. dba CPF Texas acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at $107,000. Clearbridge Investments LLC boosted its stake in shares of Cognizant Technology Solutions by 101.2% during the fourth quarter. Clearbridge Investments LLC now owns 1,616 shares of the information technology service provider’s stock valued at $115,000 after acquiring an additional 813 shares during the last quarter. Bank of Nova Scotia Trust Co. acquired a new stake in shares of Cognizant Technology Solutions during the third quarter valued at $121,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter valued at $128,000. 86.87% of the stock is currently owned by institutional investors.
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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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