Cognizant Technology Solutions Co. (NASDAQ:CTSH) Given Consensus Recommendation of “Hold” by Analysts

Cognizant Technology Solutions Co. (NASDAQ:CTSH) has been assigned a consensus rating of “Hold” from the eighteen ratings firms that are covering the stock, MarketBeat reports. Fourteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $84.56.

Several research firms have recently weighed in on CTSH. Barclays lifted their target price on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $93.00 price objective on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. BMO Capital Markets boosted their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, February 6th. Finally, UBS Group cut their target price on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a research note on Monday, March 17th.

Cognizant Technology Solutions Trading Down 0.1 %

Shares of CTSH stock opened at $76.45 on Wednesday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The firm has a market cap of $37.81 billion, a P/E ratio of 16.95, a PEG ratio of 2.11 and a beta of 1.12. The company has a 50 day moving average of $82.62 and a 200-day moving average of $79.51. Cognizant Technology Solutions has a 12-month low of $63.79 and a 12-month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. Sell-side analysts anticipate that Cognizant Technology Solutions will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were given a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.62%. Cognizant Technology Solutions’s payout ratio is 27.49%.

Cognizant Technology Solutions announced that its Board of Directors has initiated a stock buyback program on Tuesday, March 25th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the information technology service provider to buy up to 5.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Cognizant Technology Solutions

Hedge funds have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB raised its position in Cognizant Technology Solutions by 25.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,333 shares of the information technology service provider’s stock worth $178,000 after purchasing an additional 472 shares during the period. California State Teachers Retirement System increased its holdings in shares of Cognizant Technology Solutions by 0.8% in the fourth quarter. California State Teachers Retirement System now owns 840,827 shares of the information technology service provider’s stock worth $64,660,000 after buying an additional 6,554 shares during the period. 111 Capital bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $1,011,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Cognizant Technology Solutions by 257.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 164,857 shares of the information technology service provider’s stock valued at $12,678,000 after acquiring an additional 118,723 shares during the period. Finally, NorthCrest Asset Manangement LLC grew its position in Cognizant Technology Solutions by 3.5% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 103,765 shares of the information technology service provider’s stock worth $7,980,000 after acquiring an additional 3,484 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

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.