Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) have been assigned an average recommendation of “Buy” from the twenty-seven brokerages that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, twenty-one have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $78.47.

A number of research analysts have issued reports on CTSH shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $77.00 target price on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, September 6th. Zacks Investment Research cut shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Citigroup Inc. increased their target price on shares of Cognizant Technology Solutions Corporation from $73.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday. Robert W. Baird reaffirmed a “buy” rating and issued a $80.00 target price on shares of Cognizant Technology Solutions Corporation in a report on Sunday, September 10th. Finally, Vetr raised shares of Cognizant Technology Solutions Corporation from a “sell” rating to a “buy” rating and set a $76.85 target price for the company in a report on Tuesday, September 19th.

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Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded down 3.3677% during midday trading on Wednesday, reaching $73.1217. The company’s stock had a trading volume of 8,177,529 shares. Cognizant Technology Solutions Corporation has a 52 week low of $51.22 and a 52 week high of $76.51. The company’s 50-day moving average is $73.32 and its 200 day moving average is $68.57. The firm has a market capitalization of $43.19 billion, a P/E ratio of 23.4590 and a beta of 1.12.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 earnings per share. Analysts expect that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.79%. Cognizant Technology Solutions Corporation’s payout ratio is currently 19.17%.

In other Cognizant Technology Solutions Corporation news, EVP James Patrick Lennox sold 7,315 shares of Cognizant Technology Solutions Corporation stock in a transaction on Monday, August 7th. The shares were sold at an average price of $69.69, for a total value of $509,782.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Debashis Chatterjee sold 2,190 shares of Cognizant Technology Solutions Corporation stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $74.00, for a total transaction of $162,060.00. The disclosure for this sale can be found here. Insiders sold a total of 281,095 shares of company stock valued at $20,095,913 over the last ninety days. 1.08% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Linscomb & Williams Inc. acquired a new position in shares of Cognizant Technology Solutions Corporation in the 3rd quarter valued at $278,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Cognizant Technology Solutions Corporation by 45.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 143,385 shares of the information technology service provider’s stock valued at $10,401,000 after purchasing an additional 44,982 shares during the last quarter. Comgest Global Investors S.A.S. boosted its holdings in shares of Cognizant Technology Solutions Corporation by 57.7% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock valued at $395,400,000 after purchasing an additional 2,178,800 shares during the last quarter. Oak Ridge Investments LLC boosted its holdings in shares of Cognizant Technology Solutions Corporation by 7.1% in the 2nd quarter. Oak Ridge Investments LLC now owns 169,645 shares of the information technology service provider’s stock valued at $11,264,000 after purchasing an additional 11,316 shares during the last quarter. Finally, Atlantic Trust Group LLC boosted its holdings in shares of Cognizant Technology Solutions Corporation by 1.3% in the 2nd quarter. Atlantic Trust Group LLC now owns 637,050 shares of the information technology service provider’s stock valued at $42,300,000 after purchasing an additional 8,245 shares during the last quarter. Institutional investors own 87.35% of the company’s stock.

Cognizant Technology Solutions Corporation Company Profile

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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