Cognizant Technology Solutions (NASDAQ:CTSH) Upgraded at StockNews.com

StockNews.com upgraded shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a hold rating to a buy rating in a research note released on Tuesday morning.

CTSH has been the subject of a number of other reports. Jefferies Financial Group began coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They set a “buy” rating and a $90.00 price objective for the company. Royal Bank of Canada lifted their price objective on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 28th. Barclays increased their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $76.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. One 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $77.44.

Cognizant Technology Solutions Stock Up 0.2 %

NASDAQ:CTSH opened at $77.74 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. The firm has a market cap of $38.65 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The company has a 50-day moving average of $76.32 and a 200 day moving average of $71.63. 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 quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The firm had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $1.10 earnings per share. As a group, research analysts anticipate that Cognizant Technology Solutions will post 4.62 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

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

Insider Activity

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the sale, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of large investors have recently bought and sold shares of CTSH. 1620 Investment Advisors Inc. purchased a new stake in shares of Cognizant Technology Solutions in the second quarter valued at approximately $25,000. LRI Investments LLC purchased a new stake in Cognizant Technology Solutions in the 1st quarter worth $28,000. Pinnacle Bancorp Inc. lifted its holdings in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after purchasing an additional 146 shares in the last quarter. Benjamin Edwards Inc. grew its position in shares of Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 158 shares during the period. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Cognizant Technology Solutions during the second quarter worth about $40,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Company Profile

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.