Cognizant Technology Solutions Co. (NASDAQ:CTSH) Receives Average Rating of “Hold” from Brokerages

Cognizant Technology Solutions Co. (NASDAQ:CTSH) has been assigned an average rating of “Hold” from the seventeen analysts that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $75.38.

Several equities analysts have recently weighed in on CTSH shares. BMO Capital Markets reduced their target price on shares of Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, February 7th. Barclays lifted their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 23rd. Mizuho started coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 target price for the company. Evercore ISI lifted their target price on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday. Finally, Societe Generale reiterated a “sell” rating and issued a $67.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, January 5th.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of the sale, the executive vice president now directly owns 8,312 shares in the company, valued at $640,522.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of hedge funds have recently made changes to their positions in CTSH. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $26,000. NBC Securities Inc. bought a new stake in shares of Cognizant Technology Solutions in the 3rd quarter worth approximately $27,000. Spire Wealth Management lifted its holdings in shares of 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 acquiring an additional 193 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter worth $40,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of Cognizant Technology Solutions by 33.5% in the second quarter. Parkside Financial Bank & Trust now owns 630 shares of the information technology service provider’s stock worth $41,000 after buying an additional 158 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $73.62 on Friday. Cognizant Technology Solutions has a 52-week low of $58.09 and a 52-week high of $80.09. The company has a 50-day simple moving average of $76.93 and a 200 day simple moving average of $72.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.25 and a current ratio of 2.25. The company has a market capitalization of $36.65 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 1.64 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The business had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter last year, the company posted $1.01 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, research analysts predict that Cognizant Technology Solutions will post 4.6 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.30 per share. The ex-dividend date was Friday, February 16th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. This represents a $1.20 annualized dividend and a yield of 1.63%. Cognizant Technology Solutions’s payout ratio is presently 28.57%.

About Cognizant Technology Solutions

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.