Cognizant Technology Solutions (NASDAQ:CTSH) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a research report sent to investors on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $90.00 target price on the information technology service provider’s stock.

Several other research firms have also recently issued reports on CTSH. Royal Bank of Canada lifted their price objective on shares of Cognizant Technology Solutions from $77.00 to $81.00 and gave the stock a sector perform rating in a research report on Thursday, August 1st. Mizuho reaffirmed a neutral rating and set a $82.00 price objective on shares of Cognizant Technology Solutions in a research report on Tuesday, June 11th. Susquehanna cut their target price on Cognizant Technology Solutions from $80.00 to $78.00 and set a neutral rating on the stock in a research report on Thursday, May 2nd. Wedbush reaffirmed an outperform rating and issued a $85.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, May 2nd. Finally, StockNews.com raised shares of Cognizant Technology Solutions from a hold rating to a buy rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Cognizant Technology Solutions presently has an average rating of Hold and an average target price of $76.61.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $77.77 on Wednesday. The business’s 50-day moving average is $72.98 and its two-hundred day moving average is $71.60. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.35. The firm has a market capitalization of $38.67 billion, a P/E ratio of 18.69, a P/E/G ratio of 2.26 and a beta of 1.05. Cognizant Technology Solutions has a 1 year low of $62.14 and a 1 year high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The firm had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the firm earned $1.10 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. Analysts anticipate that Cognizant Technology Solutions will post 4.65 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Insider Buying and Selling

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the sale, the chief executive officer now owns 46,427 shares of the company’s stock, valued at $3,419,812.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Cognizant Technology Solutions

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new position in Cognizant Technology Solutions in the fourth quarter worth $1,786,000. Atria Wealth Solutions Inc. purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter valued at about $211,000. Mather Group LLC. acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at about $233,000. Intrust Bank NA boosted its holdings in Cognizant Technology Solutions by 6.6% during the fourth quarter. Intrust Bank NA now owns 7,436 shares of the information technology service provider’s stock worth $562,000 after buying an additional 460 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Cognizant Technology Solutions by 7.4% during the fourth quarter. Van ECK Associates Corp now owns 127,655 shares of the information technology service provider’s stock worth $9,642,000 after buying an additional 8,819 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

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.