Barclays Upgrades Cognizant Technology Solutions (NASDAQ:CTSH) to Overweight

Barclays upgraded shares of Cognizant Technology Solutions (NASDAQ:CTSH) from an equal weight rating to an overweight rating in a report published on Tuesday morning, Marketbeat Ratings reports. Barclays currently has $95.00 price target on the information technology service provider’s stock, up from their prior price target of $80.00.

Several other equities research analysts have also recently commented on CTSH. Jefferies Financial Group initiated coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price objective on the stock. Mizuho upped their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Robert W. Baird lifted their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their price target on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus price target of $80.35.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $81.03 on Tuesday. Cognizant Technology Solutions has a 12 month low of $63.79 and a 12 month high of $82.46. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $40.18 billion, a PE ratio of 17.93, a PEG ratio of 2.24 and a beta of 1.06. The stock’s fifty day simple moving average is $78.44 and its 200 day simple moving average is $74.85.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.10. The business had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. Cognizant Technology Solutions’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 EPS. On average, research analysts predict that Cognizant Technology Solutions will post 4.66 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is currently 26.55%.

Insiders Place Their Bets

In other news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction on 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 directly owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several institutional investors and hedge funds have recently bought and sold shares of CTSH. Pinnacle Bancorp Inc. increased 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 valued at $35,000 after buying an additional 146 shares during the period. Benjamin Edwards Inc. increased its stake in 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 acquiring an additional 158 shares during the last quarter. Addison Advisors LLC raised its position in Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after purchasing an additional 189 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Cognizant Technology Solutions by 32.5% during the third quarter. Meeder Asset Management Inc. now owns 786 shares of the information technology service provider’s stock worth $61,000 after purchasing an additional 193 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its stake in shares of Cognizant Technology Solutions by 1.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock valued at $862,000 after purchasing an additional 194 shares during the last quarter. Institutional investors 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.