Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) have received a consensus rating of “Hold” from the twenty-six ratings firms that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $66.67.
Several equities research analysts recently commented on CTSH shares. BMO Capital Markets upgraded shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $64.00 to $70.00 in a research report on Wednesday, July 15th. Wedbush upgraded shares of Cognizant Technology Solutions from an “underweight” rating to an “underperform” rating and set a $68.00 target price for the company in a research report on Thursday. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and increased their price target for the company from $49.00 to $60.00 in a research report on Wednesday, June 10th. HSBC upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $56.00 to $68.00 in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. raised Cognizant Technology Solutions from an “underweight” rating to a “neutral” rating and upped their target price for the company from $62.00 to $69.00 in a research note on Thursday.
In other Cognizant Technology Solutions news, insider Malcolm Frank sold 1,492 shares of Cognizant Technology Solutions stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $54.83, for a total value of $81,806.36. Following the transaction, the insider now owns 32,924 shares in the company, valued at approximately $1,805,222.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Matthew W. Friedrich sold 459 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $54.62, for a total transaction of $25,070.58. Following the sale, the general counsel now directly owns 1,072 shares of the company’s stock, valued at $58,552.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,794 shares of company stock valued at $318,107. Corporate insiders own 0.31% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Guggenheim Capital LLC increased its position in Cognizant Technology Solutions by 8.5% during the 4th quarter. Guggenheim Capital LLC now owns 254,051 shares of the information technology service provider’s stock worth $15,756,000 after purchasing an additional 19,863 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Cognizant Technology Solutions by 1.4% in the 4th quarter. Advisors Asset Management Inc. now owns 14,278 shares of the information technology service provider’s stock valued at $886,000 after acquiring an additional 195 shares during the period. Procyon Private Wealth Partners LLC acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at $52,000. Sunbelt Securities Inc. purchased a new stake in Cognizant Technology Solutions during the 4th quarter worth $49,543,000. Finally, Brooktree Capital Management purchased a new stake in Cognizant Technology Solutions during the 4th quarter worth $50,000. Institutional investors own 90.22% of the company’s stock.
CTSH stock opened at $68.32 on Tuesday. The firm has a 50 day moving average of $57.51 and a 200-day moving average of $56.95. The company has a market cap of $36.93 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.76 and a beta of 1.15. The company has a current ratio of 2.66, a quick ratio of 2.90 and a debt-to-equity ratio of 0.29. Cognizant Technology Solutions has a 12-month low of $40.01 and a 12-month high of $71.48.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, July 29th. The information technology service provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.14. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.84 billion. Cognizant Technology Solutions had a return on equity of 19.87% and a net margin of 9.67%. Cognizant Technology Solutions’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period last year, the business posted $0.94 EPS. Sell-side analysts forecast that Cognizant Technology Solutions will post 3.53 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 21st will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 22.06%.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.
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