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

Cognizant Technology Solutions Co. (NASDAQ:CTSH) has been given a consensus recommendation of “Hold” by the twenty brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, sixteen have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $79.47.

CTSH has been the subject of several recent research reports. TD Cowen lifted their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Mizuho boosted their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group reissued a “neutral” rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. Finally, Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $80.82 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The firm has a market cap of $40.07 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 2.22 and a beta of 1.05. Cognizant Technology Solutions has a 52 week low of $63.79 and a 52 week high of $82.41. The firm’s 50-day simple moving average is $77.45 and its two-hundred day simple moving average is $73.78.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the business earned $1.16 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts forecast that Cognizant Technology Solutions will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 26.55%.

Hedge Funds Weigh In On Cognizant Technology Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 1620 Investment Advisors Inc. bought a new stake in shares of Cognizant Technology Solutions during the 2nd quarter worth $25,000. Addison Advisors LLC lifted its stake in Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Cognizant Technology Solutions in the 1st quarter worth about $28,000. Ashton Thomas Securities LLC bought a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at about $30,000. Finally, Pinnacle Bancorp Inc. raised its holdings in shares of Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after buying an additional 146 shares in the last quarter. Hedge funds and other 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.