Cognizant Technology Solutions Co. (NASDAQ:CTSH) Receives Average Recommendation of “Hold” from Brokerages

Cognizant Technology Solutions Co. (NASDAQ:CTSH) has been assigned an average recommendation of “Hold” from the twenty-one ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $77.44.

A number of brokerages recently issued reports on CTSH. JPMorgan Chase & Co. lifted their price objective on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Robert W. Baird raised their target price on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Mizuho reiterated a “neutral” rating and set a $82.00 price target on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $73.00 to $75.00 in a report on Wednesday, August 7th. Finally, Royal Bank of Canada lifted their price target on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 28th.

Cognizant Technology Solutions Trading Up 1.2 %

Cognizant Technology Solutions stock opened at $77.21 on Friday. The firm has a 50-day moving average of $74.67 and a 200-day moving average of $71.53. Cognizant Technology Solutions has a one year low of $62.14 and a one year high of $80.27. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. The company has a market cap of $38.27 billion, a price-to-earnings ratio of 18.56, a P/E/G ratio of 2.14 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the business posted $1.10 EPS. Cognizant Technology Solutions’s revenue was down .7% on a year-over-year basis. On average, equities analysts expect that Cognizant Technology Solutions will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the transaction, the chief executive officer now directly owns 46,427 shares in the company, valued at $3,419,812.82. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Cognizant Technology Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions in the 2nd quarter valued at $4,714,000. Brandes Investment Partners LP boosted its position in Cognizant Technology Solutions by 56.1% during the 2nd quarter. Brandes Investment Partners LP now owns 2,191,388 shares of the information technology service provider’s stock valued at $148,975,000 after buying an additional 787,808 shares during the period. Kimelman & Baird LLC purchased a new stake in Cognizant Technology Solutions during the 2nd quarter valued at $48,000. Sunbelt Securities Inc. boosted its position in Cognizant Technology Solutions by 2.1% during the 2nd quarter. Sunbelt Securities Inc. now owns 11,462 shares of the information technology service provider’s stock valued at $779,000 after buying an additional 240 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Cognizant Technology Solutions by 43.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 22,555 shares of the information technology service provider’s stock valued at $1,534,000 after buying an additional 6,838 shares during the period. Institutional investors own 92.44% of the company’s stock.

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.