Cognizant Technology Solutions Corp (CTSH) Receives Average Rating of “Buy” from Analysts

Cognizant Technology Solutions Corp (NASDAQ:CTSH) has been given a consensus rating of “Buy” by the twenty-nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $84.78.

A number of research firms have weighed in on CTSH. Vetr upgraded Cognizant Technology Solutions from a “hold” rating to a “strong-buy” rating and set a $95.56 price target on the stock in a research note on Wednesday, November 29th. Loop Capital increased their target price on shares of Cognizant Technology Solutions to $90.00 and gave the company a “buy” rating in a research note on Thursday. Zacks Investment Research lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, January 12th. BidaskClub lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Finally, BMO Capital Markets increased their target price on shares of Cognizant Technology Solutions from $76.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, November 2nd.

In other Cognizant Technology Solutions news, General Counsel Matthew W. Friedrich sold 2,711 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $74.30, for a total value of $201,427.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Chandrasekaran Ramakrishnan sold 25,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $75.44, for a total transaction of $1,886,000.00. Following the completion of the sale, the insider now owns 271,300 shares of the company’s stock, valued at approximately $20,466,872. The disclosure for this sale can be found here. In the last 90 days, insiders sold 961,064 shares of company stock valued at $70,504,403. 1.08% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in CTSH. Linscomb & Williams Inc. acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at approximately $278,000. Robeco Institutional Asset Management B.V. boosted its position in Cognizant Technology Solutions by 45.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 143,385 shares of the information technology service provider’s stock worth $10,401,000 after purchasing an additional 44,982 shares during the period. Rothschild Asset Management Inc. purchased a new stake in Cognizant Technology Solutions during the 3rd quarter worth $12,538,000. Tandem Investment Advisors Inc. boosted its position in Cognizant Technology Solutions by 164.0% during the 4th quarter. Tandem Investment Advisors Inc. now owns 42,030 shares of the information technology service provider’s stock worth $2,985,000 after purchasing an additional 26,111 shares during the period. Finally, Aurora Investment Counsel purchased a new stake in Cognizant Technology Solutions during the 4th quarter worth $1,252,000. Institutional investors own 86.95% of the company’s stock.

Shares of Cognizant Technology Solutions (CTSH) traded down $0.73 during trading hours on Friday, reaching $74.43. The company’s stock had a trading volume of 3,090,993 shares, compared to its average volume of 3,863,670. The company has a current ratio of 3.21, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions has a fifty-two week low of $57.00 and a fifty-two week high of $79.28. The company has a market cap of $43,960.00, a PE ratio of 29.50, a PEG ratio of 1.54 and a beta of 1.11.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.15. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Cognizant Technology Solutions had a return on equity of 19.94% and a net margin of 10.15%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 EPS. equities research analysts forecast that Cognizant Technology Solutions will post 3.94 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Thursday, February 22nd will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Wednesday, February 21st. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. Cognizant Technology Solutions’s dividend payout ratio is 23.81%.

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About Cognizant Technology Solutions

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 (NASDAQ:CTSH)

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