Cognizant Technology Solutions Co. (NASDAQ:CTSH) has earned an average rating of “Buy” from the twenty research firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $83.13.
A number of equities research analysts recently commented on the stock. Susquehanna lowered their price objective on shares of Cognizant Technology Solutions from $99.00 to $91.00 and set a “positive” rating on the stock in a research note on Wednesday, June 30th. Wedbush reissued an “outperform” rating on shares of Cognizant Technology Solutions in a research note on Thursday, July 29th. Susquehanna Bancshares reduced their target price on Cognizant Technology Solutions from $99.00 to $91.00 and set a “positive” rating on the stock in a research note on Wednesday, June 30th. JPMorgan Chase & Co. raised their price target on Cognizant Technology Solutions from $83.00 to $90.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 17th. Finally, Societe Generale raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Thursday, July 29th.
Shares of CTSH stock traded up $0.66 during midday trading on Friday, reaching $76.34. 37,469 shares of the company traded hands, compared to its average volume of 3,324,588. The firm’s 50 day simple moving average is $73.55 and its two-hundred day simple moving average is $74.32. The firm has a market cap of $40.12 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.71 and a beta of 1.15. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.03 and a quick ratio of 2.03. Cognizant Technology Solutions has a 1-year low of $65.58 and a 1-year high of $82.73.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 31st. Investors of record on Friday, August 20th were given a $0.24 dividend. The ex-dividend date was Thursday, August 19th. This represents a $0.96 annualized dividend and a dividend yield of 1.26%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.07%.
In other news, EVP Becky Schmitt sold 2,888 shares of the business’s stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $69.43, for a total transaction of $200,513.84. Following the completion of the sale, the executive vice president now directly owns 18,222 shares of the company’s stock, valued at approximately $1,265,153.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.
Several large investors have recently bought and sold shares of CTSH. Wagner Wealth Management LLC acquired a new stake in shares of Cognizant Technology Solutions in the first quarter valued at about $25,000. Strategic Blueprint LLC acquired a new stake in Cognizant Technology Solutions in the second quarter valued at approximately $29,000. Wealthcare Advisory Partners LLC acquired a new stake in Cognizant Technology Solutions in the first quarter valued at approximately $34,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Cognizant Technology Solutions during the second quarter valued at approximately $31,000. Finally, Berman Capital Advisors LLC lifted its position in shares of Cognizant Technology Solutions by 322.3% during the first quarter. Berman Capital Advisors LLC now owns 473 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 361 shares in the last quarter. Institutional investors and hedge funds own 89.04% of the company’s stock.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services; Healthcare; Products and Resources; and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.
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