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

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) have received an average recommendation of “Hold” from the seventeen ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $76.44.

A number of equities analysts recently weighed in on CTSH shares. Societe Generale restated a “sell” rating and set a $67.00 target price on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Royal Bank of Canada lifted their price objective on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 7th. Evercore ISI lifted their price objective on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a research report on Tuesday, March 26th. Mizuho began coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, January 30th. They set a “neutral” rating and a $82.00 price objective for the company. Finally, Guggenheim began coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, March 19th. They set a “neutral” rating and a $80.00 price objective for the company.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $67.77 on Wednesday. The company has a market cap of $33.74 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.54 and a beta of 1.06. Cognizant Technology Solutions has a 1-year low of $58.09 and a 1-year high of $80.09. The company’s fifty day simple moving average is $74.13 and its 200 day simple moving average is $72.58. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.14. The business had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.76 billion. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 earnings per share. On average, research analysts forecast that Cognizant Technology Solutions will post 4.59 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Tuesday, February 20th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Friday, February 16th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. Cognizant Technology Solutions’s payout ratio is presently 28.57%.

Insider Buying and Selling

In related news, EVP Kathryn Diaz sold 900 shares of the company’s stock in a transaction dated 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 owns 8,312 shares of the company’s stock, valued at $640,522.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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

Several institutional investors and hedge funds have recently bought and sold shares of the company. BSW Wealth Partners lifted its position in Cognizant Technology Solutions by 47.1% during the first quarter. BSW Wealth Partners now owns 3,965 shares of the information technology service provider’s stock worth $291,000 after purchasing an additional 1,270 shares during the period. Summit Trail Advisors LLC raised its stake in Cognizant Technology Solutions by 39.3% during the first quarter. Summit Trail Advisors LLC now owns 9,730 shares of the information technology service provider’s stock worth $713,000 after acquiring an additional 2,744 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Cognizant Technology Solutions by 3.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 40,040 shares of the information technology service provider’s stock worth $2,935,000 after acquiring an additional 1,220 shares in the last quarter. Parsons Capital Management Inc. RI raised its stake in Cognizant Technology Solutions by 34.5% during the first quarter. Parsons Capital Management Inc. RI now owns 9,980 shares of the information technology service provider’s stock worth $731,000 after acquiring an additional 2,561 shares in the last quarter. Finally, Hendershot Investments Inc. raised its stake in Cognizant Technology Solutions by 1.7% during the first quarter. Hendershot Investments Inc. now owns 219,582 shares of the information technology service provider’s stock worth $16,093,000 after acquiring an additional 3,766 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

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.