Cognizant Technology Solutions Corporation (CTSH) Now Covered by Pivotal Research

Pivotal Research started coverage on shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in a research note issued to investors on Wednesday, November 8th, Marketbeat Ratings reports. The brokerage issued a buy rating and a $93.00 price objective on the information technology service provider’s stock.

CTSH has been the topic of several other reports. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a hold rating to a buy rating and set a $82.00 target price on the stock in a research report on Tuesday, October 10th. Robert W. Baird upped their target price on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an outperform rating in a research report on Thursday, October 19th. Bank of America Corporation restated a buy rating and set a $86.00 target price on shares of Cognizant Technology Solutions in a research report on Tuesday, September 12th. SunTrust Banks, Inc. restated a buy rating and set a $85.00 target price on shares of Cognizant Technology Solutions in a research report on Friday, November 3rd. Finally, KeyCorp reiterated a buy rating and issued a $79.00 price target on shares of Cognizant Technology Solutions in a research report on Friday, September 8th. Five equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $81.19.

Cognizant Technology Solutions (NASDAQ:CTSH) opened at $72.40 on Wednesday. The stock has a market cap of $42,613.64, a PE ratio of 21.57, a P/E/G ratio of 1.63 and a beta of 1.10. Cognizant Technology Solutions has a 1-year low of $51.52 and a 1-year high of $76.51. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.13. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. analysts predict that Cognizant Technology Solutions will post 3.35 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Friday, November 17th. Cognizant Technology Solutions’s dividend payout ratio is currently 18.52%.

In related news, EVP Allen Shaheen sold 2,358 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $70.20, for a total transaction of $165,531.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Francisco Dsouza sold 482,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $72.04, for a total transaction of $34,723,280.00. Following the sale, the chief executive officer now directly owns 621,643 shares of the company’s stock, valued at $44,783,161.72. The disclosure for this sale can be found here. In the last three months, insiders sold 701,918 shares of company stock worth $50,616,539. Insiders own 1.08% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Jana Partners LLC boosted its holdings in shares of Cognizant Technology Solutions by 82.4% in the 1st quarter. Jana Partners LLC now owns 2,634,603 shares of the information technology service provider’s stock valued at $156,812,000 after buying an additional 1,190,320 shares during the period. Highbridge Capital Management LLC lifted its position in Cognizant Technology Solutions by 7,319.8% in the 1st quarter. Highbridge Capital Management LLC now owns 370,991 shares of the information technology service provider’s stock valued at $22,082,000 after purchasing an additional 365,991 shares during the last quarter. Gotham Asset Management LLC lifted its position in Cognizant Technology Solutions by 31.6% in the 1st quarter. Gotham Asset Management LLC now owns 6,296 shares of the information technology service provider’s stock valued at $375,000 after purchasing an additional 1,513 shares during the last quarter. Hunt Lane Capital LP bought a new stake in Cognizant Technology Solutions in the 1st quarter valued at about $29,760,000. Finally, Shelton Capital Management lifted its position in Cognizant Technology Solutions by 96.5% in the 1st quarter. Shelton Capital Management now owns 83,644 shares of the information technology service provider’s stock valued at $4,978,000 after purchasing an additional 41,078 shares during the last quarter. 87.31% of the stock is owned by institutional investors.

WARNING: This report was first posted by BBNS and is the property of of BBNS. If you are reading this report on another website, it was stolen and reposted in violation of United States and international copyright & trademark law. The original version of this report can be viewed at https://baseballnewssource.com/markets/cognizant-technology-solutions-corporation-ctsh-coverage-initiated-by-analysts-at-pivotal-research/1768012.html.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

Receive News & Ratings for Cognizant Technology Solutions Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Jack Morris, Alan Trammel Voted by Modern Era Committee into Hall of Fame
Yankees and Marlins Continue Stanton Trade Talks
Yankees and Marlins Continue Stanton Trade Talks
Marlins Making Moves, Trade Dee Gordon to Seattle
Marlins Making Moves, Trade Dee Gordon to Seattle
Report: Astros Dallas Keuchel Pitched With Injured Foot
Report: Astros Dallas Keuchel Pitched With Injured Foot
Angels Sign Former Prospect with Braves Kevin Maitan
Angels Sign Former Prospect with Braves Kevin Maitan
Shohei Ohtani Has Turned Down Red Sox and Yankees
Shohei Ohtani Has Turned Down Red Sox and Yankees


Leave a Reply

 
© 2006-2017 BBNS.