Cognizant Technology Solutions Corp (CTSH) Plans Quarterly Dividend of $0.20

Cognizant Technology Solutions Corp (NASDAQ:CTSH) declared a quarterly dividend on Wednesday, February 7th, RTT News reports. Shareholders of record on Thursday, February 22nd will be given a dividend of 0.20 per share by the information technology service provider on Wednesday, February 28th. This represents a $0.80 dividend on an annualized basis and a yield of 1.04%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.15.

Cognizant Technology Solutions (CTSH) opened at $77.00 on Wednesday. The firm has a market capitalization of $43,215.09, a P/E ratio of 22.81, a price-to-earnings-growth ratio of 1.48 and a beta of 1.11. Cognizant Technology Solutions has a fifty-two week low of $54.76 and a fifty-two week high of $78.95. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 3.29.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.13. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. Cognizant Technology Solutions’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 EPS. equities analysts forecast that Cognizant Technology Solutions will post 3.35 earnings per share for the current year.

A number of equities analysts have weighed in on CTSH shares. Zacks Investment Research upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a report on Tuesday, October 10th. Robert W. Baird upped their target price on Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, October 19th. BidaskClub lowered Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. SunTrust Banks reaffirmed a “buy” rating and issued a $85.00 target price on shares of Cognizant Technology Solutions in a research report on Friday, November 3rd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $89.00 target price (up from $80.00) on shares of Cognizant Technology Solutions in a research report on Thursday, November 2nd. Five research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. Cognizant Technology Solutions presently has a consensus rating of “Buy” and an average target price of $82.25.

In other Cognizant Technology Solutions news, Vice Chairman Chandrasekaran Ramakrishnan sold 25,000 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $75.44, for a total value of $1,886,000.00. Following the sale, the insider now directly owns 271,300 shares of the company’s stock, valued at $20,466,872. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sumithra Gomatam sold 2,625 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $76.00, for a total value of $199,500.00. Following the completion of the sale, the insider now directly owns 40,979 shares in the company, valued at $3,114,404. The disclosure for this sale can be found here. Over the last three months, insiders have sold 961,064 shares of company stock worth $70,504,403. Corporate insiders own 1.08% of the company’s stock.

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Cognizant Technology Solutions 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.

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