Shares of Cognizant Technology Solutions Co. (NASDAQ: CTSH – Get Rating) received a consensus recommendation of “Buy” from the seventeen rating firms covering the company, MarketBeat Ratings reports. One analyst rated the stock with a sell rating, three assigned a hold rating, and nine assigned a buy rating to the company. The 12-month average target price among analysts who have hedged the stock over the past year is $ 92.53.
Several research firms have recently weighed in on CTSH. Cowen reduced its price target on Cognizant Technology Solutions from $ 98.00 to $ 95.00 in a research note on Monday, May 9. On Thursday, May 5, Citigroup reduced its price target on Cognizant Technology Solutions from $ 95.00 to $ 88.00 in a research note. Cowen lowered Cognizant Technology Solutions’ target price from $ 98.00 to $ 95.00 in a research report on Monday, May 9. Finally, StockNews.com downgraded Cognizant Technology Solutions from a “strong buy” rating to a “buy” rating in a research report on Wednesday, May 11.
CTSH opened at $ 69.91 on Friday. The company’s fifty-day moving average is $ 78.62 and its 200-day moving average is $ 83.77. The company has a market capitalization of $ 36.43 billion, a P / E ratio of 16.76, a price / earnings-growth ratio of 1.31, and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.22, and a current ratio of 2.22. Cognizant Technology Solutions has a 52-week low of $ 66.19 and a 52-week high of $ 93.47.
Cognizant Technology Solutions (NASDAQ: CTSH – Get Rating) last released quarterly earnings data on Wednesday, May 4. The information technology service provider posted earnings per share of $ 1.08 for the quarter, beating the $ 1.04 consensus estimate by $ 0.04. The company reported revenue of $ 4.83 billion for the quarter, compared with analysts’ estimates of $ 4.83 billion. Cognizant Technology Solutions had a return on equity of 19.07% and a net margin of 11.59%. Cognizant Technology Solutions’ revenues increased 9.7% compared to the same quarter last year. In the same period last year, the company posted earnings per share of $ 0.97. On average, research analysts expect Cognizant Technology Solutions to post 4.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 31. Record shareholders were awarded a dividend of $ 0.27 per share on Friday, May 20. The ex-dividend date was Thursday 19th May. This represents a dividend of $ 1.08 on an annual basis and a dividend yield of 1.54%. Cognizant Technology Solutions’ dividend payout ratio (DPR) is 25.90%.
In other Cognizant Technology Solutions news, EVP Andrew J. Stafford sold 5,867 shares of Cognizant Technology Solutions in a transaction that occurred on Tuesday, May 10. The stock sold at an average price of $ 77.24, for a total value of $ 453,167.08. Following the completion of the sale, the executive vice president now directly owns 5,872 shares in the company, valued at $ 453,553.28. The sale was disclosed in a filing with the SEC, available on the SEC’s website. Additionally, director Michael Patsalos-Fox sold 5,687 shares of Cognizant Technology Solutions in a transaction that occurred on Tuesday, May 17. The stock was sold at an average price of $ 74.40, for a total value of $ 423,112.80. Following the completion of the sale, the director now owns 57,534 shares in the company, valued at $ 4,280,529.60. The information for this sale can be found here. 0.34% of the shares are owned by insiders.
Hedge funds recently changed their holdings in the company. Norges Bank purchased a new stock position in Cognizant Technology Solutions during the fourth quarter for approximately $ 465,540,000. Wellington Management Group LLP strengthened its position in Cognizant Technology Solutions shares by 40.6% during the first quarter. Wellington Management Group LLP now owns 12,251,722 shares of the information technology service provider worth $ 1,098,612,000 after purchasing an additional 3,537,761 shares in the last quarter. First Trust Advisors LP increased its position in Cognizant Technology Solutions shares by 50.0% during the fourth quarter. First Trust Advisors LP now owns 5,934,516 shares in the IT service provider worth $ 526,510,000 after buying another 1,979,276 shares in the last quarter. Boston Partners increased its position in Cognizant Technology Solutions shares by 26.6% during the fourth quarter. Boston Partners now owns 6,685,153 shares in the information technology service provider worth $ 593,070,000 after purchasing an additional 1,405,697 shares in the last quarter. Finally, Invesco Ltd. strengthened its position in Cognizant Technology Solutions shares by 7.2% during the fourth quarter. Invesco Ltd. now owns 17,072,441 shares in the IT service provider worth $ 1,514,667,000 after purchasing an additional 1,139,513 shares in the last quarter. Institutional investors and hedge funds own 90.73% of the company’s shares.
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Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology and outsourcing services to North America, Europe and internationally. It operates across four segments: financial services; Health care; Products and resources; and communications, media and technology.
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