Cognizant Technology Solutions Co. (NASDAQ:CTSH) Given Average Recommendation of “Hold” by Brokerages

Cognizant Technology Solutions Co. (NASDAQ:CTSH) has earned an average recommendation of “Hold” from the twenty-one brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seventeen have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $77.44.

Several research firms recently issued reports on CTSH. Royal Bank of Canada upped their target price on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 28th. Robert W. Baird upped their target price on Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Jefferies Financial Group began coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price on the stock. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their price target for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a report on Friday, September 6th.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $75.94 on Wednesday. The business’s fifty day simple moving average is $75.95 and its 200-day simple moving average is $71.49. The company has a market cap of $37.64 billion, a PE ratio of 17.30, a PEG ratio of 2.16 and a beta of 1.05. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions has a 12-month low of $62.14 and a 12-month high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period in the prior year, the firm earned $1.10 EPS. The firm’s revenue was down .7% on a year-over-year basis. Analysts expect that Cognizant Technology Solutions will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.20 dividend on an annualized basis and a yield of 1.58%. Cognizant Technology Solutions’s payout ratio is 27.33%.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the sale, the chief executive officer now owns 46,427 shares in the company, valued at approximately $3,419,812.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by insiders.

Institutional Trading of Cognizant Technology Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning increased its holdings in shares of Cognizant Technology Solutions by 8.6% during the 3rd quarter. Creative Planning now owns 44,423 shares of the information technology service provider’s stock worth $3,429,000 after buying an additional 3,518 shares during the last quarter. CX Institutional increased its holdings in shares of Cognizant Technology Solutions by 5.3% during the 3rd quarter. CX Institutional now owns 4,066 shares of the information technology service provider’s stock worth $314,000 after buying an additional 205 shares during the last quarter. Compagnie Lombard Odier SCmA acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $193,000. Exchange Traded Concepts LLC acquired a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $161,000. Finally, Gateway Investment Advisers LLC increased its holdings in shares of Cognizant Technology Solutions by 38.1% during the 3rd quarter. Gateway Investment Advisers LLC now owns 6,494 shares of the information technology service provider’s stock worth $501,000 after buying an additional 1,792 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.