Brokerages Set Cognizant Technology Solutions Co. (NASDAQ:CTSH) Target Price at $79.47

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) have earned a consensus recommendation of “Hold” from the twenty research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $79.47.

Several equities research analysts have recently weighed in on the company. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Friday, November 8th. Royal Bank of Canada increased their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th. Robert W. Baird lifted their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Finally, TD Cowen lifted their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st.

Cognizant Technology Solutions Stock Down 0.3 %

Cognizant Technology Solutions stock opened at $80.49 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. Cognizant Technology Solutions has a fifty-two week low of $63.79 and a fifty-two week high of $82.41. The firm has a fifty day moving average price of $77.45 and a two-hundred day moving average price of $73.74. The firm has a market cap of $39.91 billion, a price-to-earnings ratio of 17.81, a P/E/G ratio of 2.23 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.10. The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 EPS. As a group, analysts forecast that Cognizant Technology Solutions will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.49%. Cognizant Technology Solutions’s dividend payout ratio is 26.55%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in Cognizant Technology Solutions during the 3rd quarter valued at $1,972,000. Daiwa Securities Group Inc. increased its stake in shares of Cognizant Technology Solutions by 12.6% in the third quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider’s stock valued at $7,828,000 after buying an additional 11,349 shares in the last quarter. Trinity Legacy Partners LLC raised its holdings in shares of Cognizant Technology Solutions by 14.3% in the third quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock valued at $4,629,000 after buying an additional 7,547 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Cognizant Technology Solutions by 5.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 119,570 shares of the information technology service provider’s stock worth $9,228,000 after buying an additional 6,626 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in Cognizant Technology Solutions by 135.4% during the 1st quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider’s stock worth $2,441,000 after acquiring an additional 19,157 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

About Cognizant Technology Solutions

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.