Cognizant Technology Solutions Co. (NASDAQ:CTSH) Receives Average Rating of “Hold” from Analysts

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) have been given a consensus rating of “Hold” by the twenty analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, sixteen have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $76.06.

CTSH has been the topic of a number of recent research reports. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday. Robert W. Baird lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Monday, June 10th. Barclays lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd.

Insider Buying and Selling at Cognizant Technology Solutions

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

Institutional Investors Weigh In On Cognizant Technology Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Benjamin Edwards Inc. increased its position in shares of Cognizant Technology Solutions by 42.1% during the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after acquiring an additional 158 shares in the last quarter. Unison Advisors LLC increased its position in shares of Cognizant Technology Solutions by 0.6% during the first quarter. Unison Advisors LLC now owns 29,226 shares of the information technology service provider’s stock worth $2,142,000 after acquiring an additional 172 shares in the last quarter. Choate Investment Advisors increased its position in shares of Cognizant Technology Solutions by 0.4% during the first quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider’s stock worth $3,558,000 after acquiring an additional 180 shares in the last quarter. Signaturefd LLC increased its position in shares of Cognizant Technology Solutions by 2.5% during the fourth quarter. Signaturefd LLC now owns 7,376 shares of the information technology service provider’s stock worth $557,000 after acquiring an additional 181 shares in the last quarter. Finally, SP Asset Management LLC increased its position in shares of Cognizant Technology Solutions by 0.4% during the fourth quarter. SP Asset Management LLC now owns 46,878 shares of the information technology service provider’s stock worth $3,541,000 after acquiring an additional 186 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock opened at $76.68 on Tuesday. The business has a 50 day moving average of $71.94 and a 200-day moving average of $71.57. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.35. Cognizant Technology Solutions has a 1 year low of $62.14 and a 1 year high of $80.27. The company has a market capitalization of $38.13 billion, a P/E ratio of 18.43, a P/E/G ratio of 2.26 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.05. The firm had revenue of $4.85 billion during 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 revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the firm earned $1.10 earnings per share. On average, equities research analysts predict that Cognizant Technology Solutions will post 4.65 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.85%.

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.