Cognizant Technology Solutions (NASDAQ:CTSH) Upgraded at Mizuho

Mizuho upgraded shares of Cognizant Technology Solutions (NASDAQ:CTSH) to a hold rating in a report published on Wednesday morning,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Barclays upped their price objective on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Morgan Stanley decreased their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. BMO Capital Markets upped their price objective on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a report on Thursday, February 6th. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Fifteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average target price of $83.71.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $76.42 on Wednesday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average price is $82.66 and its two-hundred day moving average price is $79.43. Cognizant Technology Solutions has a 1 year low of $63.79 and a 1 year high of $90.82. The firm has a market capitalization of $37.80 billion, a P/E ratio of 16.94, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts anticipate that Cognizant Technology Solutions will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Tuesday, February 18th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is currently 27.49%.

Institutional Trading of Cognizant Technology Solutions

Large investors have recently modified their holdings of the stock. Retirement Systems of Alabama grew its position in shares of Cognizant Technology Solutions by 3.5% during the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock worth $91,678,000 after buying an additional 40,226 shares during the period. CGN Advisors LLC acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $1,294,000. ICICI Prudential Asset Management Co Ltd grew its position in shares of Cognizant Technology Solutions by 50.7% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock worth $33,041,000 after buying an additional 144,535 shares during the period. Todd Asset Management LLC grew its position in shares of Cognizant Technology Solutions by 24.4% during the 4th quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider’s stock worth $33,568,000 after buying an additional 85,539 shares during the period. Finally, Matthews International Capital Management LLC grew its position in shares of Cognizant Technology Solutions by 52.0% during the 4th quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock worth $3,853,000 after buying an additional 17,134 shares during the period. Institutional investors and hedge funds 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.