Cognizant Technology Solutions (NASDAQ:CTSH) Hits New 1-Year High Following Analyst Upgrade

Cognizant Technology Solutions Co. (NASDAQ:CTSH) shares reached a new 52-week high on Tuesday after Barclays raised their price target on the stock from $95.00 to $103.00. Barclays currently has an overweight rating on the stock. Cognizant Technology Solutions traded as high as $87.86 and last traded at $87.88, with a volume of 525638 shares. The stock had previously closed at $86.96.

Several other equities research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft upped their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Morgan Stanley raised their target price on Cognizant Technology Solutions from $80.00 to $85.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Mizuho increased their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, UBS Group boosted their price objective on Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Sixteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus price target of $83.67.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the transaction, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at $3,126,052.42. This represents a 11.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

Institutional investors have recently added to or reduced their stakes in the business. Addison Advisors LLC lifted its holdings in Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares in the last quarter. Duncker Streett & Co. Inc. bought a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $28,000. Ashton Thomas Securities LLC purchased a new position in Cognizant Technology Solutions during the third quarter valued at approximately $30,000. Trust Co. of Vermont increased its holdings in Cognizant Technology Solutions by 188.4% during the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 292 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in Cognizant Technology Solutions in the 4th quarter worth approximately $36,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Price Performance

The stock has a market capitalization of $43.62 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 2.32 and a beta of 1.07. The business’s 50-day moving average price is $79.67 and its 200 day moving average price is $77.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.23 and a current ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. Research analysts forecast that Cognizant Technology Solutions Co. will post 4.99 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.41%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, February 18th. Cognizant Technology Solutions’s payout ratio is presently 26.61%.

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.