Cognizant Technology Solutions (NASDAQ:CTSH) Rating Reiterated by Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a research report report published on Thursday, Benzinga reports.

Other analysts have also issued research reports about the company. BMO Capital Markets dropped their price objective on Cognizant Technology Solutions from $85.00 to $77.00 and set a market perform rating for the company in a research note on Tuesday, April 30th. Royal Bank of Canada raised their target price on Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a sector perform rating in a research note on Wednesday, February 7th. Mizuho assumed coverage on Cognizant Technology Solutions in a research report on Tuesday, January 30th. They set a neutral rating and a $82.00 price target for the company. Susquehanna reiterated a neutral rating and issued a $80.00 price objective (down from $87.00) on shares of Cognizant Technology Solutions in a research report on Monday, April 1st. Finally, Citigroup decreased their target price on Cognizant Technology Solutions from $90.00 to $82.00 and set a buy rating for the company in a report on Monday, April 22nd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $75.67.

Cognizant Technology Solutions Trading Down 0.0 %

CTSH stock opened at $66.25 on Thursday. The company has a market capitalization of $32.98 billion, a PE ratio of 15.93, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.25 and a current ratio of 2.35. Cognizant Technology Solutions has a one year low of $60.26 and a one year high of $80.09. The company’s 50 day moving average price is $72.31 and its two-hundred day moving average price is $72.55.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The company had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter last year, the company earned $1.11 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. As a group, analysts predict that Cognizant Technology Solutions will post 4.6 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Monday, May 20th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Insiders Place Their Bets

In other news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the transaction, the executive vice president now owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Hedge funds have recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth $26,000. NBC Securities Inc. bought a new stake in Cognizant Technology Solutions in the 3rd quarter worth about $27,000. Spire Wealth Management increased its holdings in Cognizant Technology Solutions by 79.1% in the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after buying an additional 193 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Cognizant Technology Solutions in the 4th quarter worth about $40,000. Finally, Quarry LP purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at about $43,000. 92.44% of the stock is currently owned by hedge funds and other 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.