Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Stock Has Consensus Price Target of $68.04 According to Analysts

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) has received an average recommendation of “Hold” from the twenty-four ratings firms that are covering the company, MarketBeat.com reports. Fourteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $68.17.

CTSH has been the subject of a number of research analyst reports. Weiss Ratings raised Cognizant Technology Solutions from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, October 19th. Needham & Company LLC set a $78.00 price objective on Cognizant Technology Solutions in a research report on Monday, October 26th. Wedbush restated an “outperform” rating and issued a $70.00 price objective on shares of Cognizant Technology Solutions in a report on Friday, October 9th. Guggenheim reaffirmed a “buy” rating and set a $80.00 price objective (up from $65.00) on shares of Cognizant Technology Solutions in a research note on Tuesday, October 27th. Finally, JPMorgan Chase & Co. increased their target price on Cognizant Technology Solutions from $67.00 to $78.00 and gave the stock an “overweight” rating in a research report on Monday, October 26th.

Institutional Investors Weigh In On Cognizant Technology Solutions

Hedge funds have recently modified their holdings of the business. Heritage Family Offices LLP bought a new stake in shares of Cognizant Technology Solutions in the 3rd quarter worth about $29,000. Calamos Advisors LLC lifted its stake in shares of Cognizant Technology Solutions by 2.1% during the 3rd quarter. Calamos Advisors LLC now owns 124,864 shares of the information technology service provider’s stock worth $7,172,000 after acquiring an additional 2,526 shares during the last quarter. Alta Advisers Ltd bought a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $209,000. Kestra Advisory Services LLC boosted its holdings in Cognizant Technology Solutions by 71.6% during the 3rd quarter. Kestra Advisory Services LLC now owns 11,513 shares of the information technology service provider’s stock valued at $661,000 after acquiring an additional 4,803 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in Cognizant Technology Solutions by 8.6% in the third quarter. Commonwealth Equity Services LLC now owns 35,489 shares of the information technology service provider’s stock worth $2,038,000 after purchasing an additional 2,807 shares during the period. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $65.09 on Thursday. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average of $62.27 and a 200-day moving average of $59.19. The firm has a market capitalization of $29.32 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.24 and a beta of 0.86. Cognizant Technology Solutions has a twelve month low of $37.08 and a twelve month high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Thursday, October 29th. The information technology service provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.03. Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.64 billion. During the same quarter in the prior year, the company earned $1.39 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Cognizant Technology Solutions will post 5.76 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Friday, November 13th will be paid a $0.33 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.32 annualized dividend and a dividend yield of 2.0%. Cognizant Technology Solutions’s payout ratio is currently 24.09%.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation is a global information technology services and consulting company that helps organizations modernize their technology infrastructure, operations and customer experiences. The company serves businesses across industries including financial services, healthcare, life sciences, manufacturing, retail and communications.

Cognizant’s services include consulting, application development and modernization, cloud computing, data and artificial intelligence, digital engineering, cybersecurity and business process services.