Cognizant Technology Solutions Corporation (CTSH) Research Coverage Started at Pivotal Research

Pivotal Research initiated coverage on shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in a research report report published on Wednesday, November 8th, MarketBeat reports. The firm issued a buy rating and a $93.00 target price on the information technology service provider’s stock.

A number of other analysts have also issued reports on the stock. Royal Bank Of Canada reissued a buy rating and issued a $77.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Sunday, October 8th. Barclays PLC raised their price objective on shares of Cognizant Technology Solutions Corporation from $80.00 to $90.00 and gave the company an overweight rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Robert W. Baird raised their price objective on shares of Cognizant Technology Solutions Corporation from $80.00 to $90.00 and gave the company an outperform rating in a research report on Thursday, October 19th. Zacks Investment Research raised shares of Cognizant Technology Solutions Corporation from a hold rating to a buy rating and set a $82.00 price objective on the stock in a research report on Tuesday, October 10th. Finally, Vetr raised shares of Cognizant Technology Solutions Corporation from a sell rating to a buy rating and set a $76.85 price objective on the stock in a research report on Tuesday, September 19th. Five analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned 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 Corporation (NASDAQ CTSH) traded down $1.01 during trading hours on Wednesday, hitting $71.90. 5,894,900 shares of the stock traded hands, compared to its average volume of 3,995,492. Cognizant Technology Solutions Corporation has a one year low of $51.35 and a one year high of $76.51. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. The company has a market cap of $42,990.00, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 1.64 and a beta of 1.10.

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

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The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be given 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 is Friday, November 17th. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is currently 18.58%.

In related news, General Counsel Matthew W. Friedrich sold 2,711 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $74.30, for a total value of $201,427.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Rajeev Mehta sold 32,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $71.02, for a total value of $2,272,640.00. Following the completion of the transaction, the president now directly owns 187,965 shares in the company, valued at $13,349,274.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 244,918 shares of company stock valued at $17,643,259. Insiders own 1.08% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Cognizant Technology Solutions Corporation by 81.6% during the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock worth $1,664,366,000 after purchasing an additional 11,262,360 shares in the last quarter. Edgewood Management LLC grew its holdings in shares of Cognizant Technology Solutions Corporation by 9.3% during the 3rd quarter. Edgewood Management LLC now owns 16,915,676 shares of the information technology service provider’s stock worth $1,227,063,000 after purchasing an additional 1,443,368 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Cognizant Technology Solutions Corporation by 3.2% during the 3rd quarter. Nordea Investment Management AB now owns 10,076,020 shares of the information technology service provider’s stock worth $730,914,000 after purchasing an additional 313,364 shares in the last quarter. Comgest Global Investors S.A.S. grew its holdings in shares of Cognizant Technology Solutions Corporation by 24.5% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 7,416,617 shares of the information technology service provider’s stock worth $538,001,000 after purchasing an additional 1,461,800 shares in the last quarter. Finally, Pzena Investment Management LLC grew its holdings in shares of Cognizant Technology Solutions Corporation by 4.4% during the 2nd quarter. Pzena Investment Management LLC now owns 7,010,880 shares of the information technology service provider’s stock worth $465,522,000 after purchasing an additional 296,899 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Corporation 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 Corporation (NASDAQ:CTSH)

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