Nomura upgraded shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a neutral rating to a buy rating in a research note released on Wednesday morning, The Fly reports. They currently have $79.00 target price on the information technology service provider’s stock.
A number of other equities analysts also recently weighed in on CTSH. BMO Capital Markets downgraded Cognizant Technology Solutions from an outperform rating to a market perform rating and set a $74.00 price target on the stock. in a research report on Wednesday. KeyCorp lowered their price target on Cognizant Technology Solutions from $89.00 to $79.00 and set an overweight rating on the stock in a research report on Wednesday. BidaskClub raised Cognizant Technology Solutions from a hold rating to a buy rating in a research report on Friday, July 13th. Wolfe Research began coverage on Cognizant Technology Solutions in a research report on Tuesday, July 17th. They set a market perform rating on the stock. Finally, Cowen reissued a buy rating and set a $87.00 price target on shares of Cognizant Technology Solutions in a research report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $84.42.
Shares of NASDAQ CTSH opened at $69.50 on Wednesday. The company has a market cap of $40.33 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 1.28 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.27 and a current ratio of 3.24. Cognizant Technology Solutions has a twelve month low of $65.14 and a twelve month high of $85.10.
Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.06. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.08 billion. Cognizant Technology Solutions had a return on equity of 22.54% and a net margin of 9.07%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 earnings per share. On average, analysts anticipate that Cognizant Technology Solutions will post 4.17 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Tuesday, November 20th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Monday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is presently 22.66%.
In related news, EVP Allen Shaheen sold 352 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $74.89, for a total value of $26,361.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sean Middleton sold 439 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $76.28, for a total value of $33,486.92. Following the completion of the sale, the insider now owns 5,135 shares of the company’s stock, valued at $391,697.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,288 shares of company stock valued at $3,694,551. Corporate insiders own 0.60% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Kaizen Advisory LLC boosted its stake in shares of Cognizant Technology Solutions by 149.4% in the second quarter. Kaizen Advisory LLC now owns 1,429 shares of the information technology service provider’s stock valued at $113,000 after buying an additional 856 shares during the period. Willingdon Wealth Management bought a new stake in shares of Cognizant Technology Solutions in the third quarter valued at approximately $120,000. Fort L.P. bought a new stake in shares of Cognizant Technology Solutions in the second quarter valued at approximately $123,000. Stratos Wealth Partners LTD. bought a new stake in shares of Cognizant Technology Solutions in the third quarter valued at approximately $146,000. Finally, San Francisco Sentry Investment Group CA boosted its stake in shares of Cognizant Technology Solutions by 170.0% in the second quarter. San Francisco Sentry Investment Group CA now owns 1,909 shares of the information technology service provider’s stock valued at $151,000 after buying an additional 1,202 shares during the period. Institutional investors and hedge funds own 88.04% of the company’s stock.
About Cognizant Technology Solutions
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.
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