Morgan Stanley Issues Positive Forecast for Cognizant Technology Solutions (NASDAQ:CTSH) Stock Price

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price raised by Morgan Stanley from $80.00 to $85.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the information technology service provider’s stock.

CTSH has been the topic of a number of other research reports. Mizuho increased their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Robert W. Baird raised their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. UBS Group raised their price objective on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, BMO Capital Markets raised their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research note on Thursday. Sixteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and an average target price of $83.22.

Cognizant Technology Solutions Trading Up 4.2 %

Shares of NASDAQ:CTSH opened at $87.09 on Thursday. The company has a market cap of $43.18 billion, a P/E ratio of 19.27, a PEG ratio of 2.21 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. Cognizant Technology Solutions has a 1 year low of $63.79 and a 1 year high of $87.61. The stock’s fifty day moving average price is $79.31 and its 200-day moving average price is $77.45.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. Sell-side analysts expect that Cognizant Technology Solutions will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.42%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, February 18th. Cognizant Technology Solutions’s payout ratio is 26.55%.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $3,126,052.42. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Institutional investors and hedge funds have recently modified their holdings of the stock. Addison Advisors LLC raised its holdings in Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares during the period. Duncker Streett & Co. Inc. acquired a new position in Cognizant Technology Solutions in the 4th quarter worth about $28,000. Ashton Thomas Securities LLC acquired a new position in Cognizant Technology Solutions in the 3rd quarter worth about $30,000. Trust Co. of Vermont raised its holdings in Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 292 shares during the period. Finally, Pinnacle Bancorp Inc. raised its holdings in Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares during the period. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.