Cognizant Technology Solutions Corporation (NASDAQ:CTSH) has earned a consensus rating of “Buy” from the twenty-eight research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, seventeen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $69.59.

A number of equities analysts have commented on CTSH shares. Needham & Company LLC lifted their price objective on shares of Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, May 15th. Zacks Investment Research downgraded shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Vetr downgraded shares of Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating and set a $67.50 price objective for the company. in a report on Monday, May 1st. Deutsche Bank AG reaffirmed a “buy” rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, May 31st. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $67.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Monday, May 15th.

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Cognizant Technology Solutions Corporation (CTSH) traded down 0.24% during mid-day trading on Friday, reaching $70.07. 2,636,472 shares of the company traded hands. The firm’s 50-day moving average is $69.18 and its 200 day moving average is $63.09. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $72.07. The stock has a market capitalization of $41.38 billion, a PE ratio of 22.48 and a beta of 1.17.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter last year, the company earned $0.87 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts expect that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio is currently 19.17%.

In related news, EVP Allen Shaheen sold 442 shares of Cognizant Technology Solutions Corporation stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $70.58, for a total transaction of $31,196.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Maureen Breakiron-Evans sold 12,368 shares of Cognizant Technology Solutions Corporation stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $69.70, for a total value of $862,049.60. Following the transaction, the director now directly owns 1,075 shares in the company, valued at $74,927.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 91,222 shares of company stock worth $6,326,183. Company insiders own 1.08% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTSH. Moon Capital Management LLC raised its position in Cognizant Technology Solutions Corporation by 109.2% in the first quarter. Moon Capital Management LLC now owns 72,322 shares of the information technology service provider’s stock worth $4,305,000 after buying an additional 37,752 shares during the last quarter. DnB Asset Management AS raised its position in Cognizant Technology Solutions Corporation by 90.0% in the first quarter. DnB Asset Management AS now owns 2,191,587 shares of the information technology service provider’s stock worth $130,443,000 after buying an additional 1,038,062 shares during the last quarter. Bank of The West raised its position in Cognizant Technology Solutions Corporation by 1.5% in the first quarter. Bank of The West now owns 82,071 shares of the information technology service provider’s stock worth $4,885,000 after buying an additional 1,225 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Cognizant Technology Solutions Corporation by 7.3% in the first quarter. Nisa Investment Advisors LLC now owns 261,251 shares of the information technology service provider’s stock worth $15,550,000 after buying an additional 17,835 shares during the last quarter. Finally, Whitnell & Co. raised its position in Cognizant Technology Solutions Corporation by 118.4% in the first quarter. Whitnell & Co. now owns 13,975 shares of the information technology service provider’s stock worth $832,000 after buying an additional 7,575 shares during the last quarter. 88.68% of the stock is currently owned by hedge funds and other institutional investors.

About Cognizant Technology Solutions Corporation

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

Analyst Recommendations for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

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