Cognizant Technology Solutions (NASDAQ:CTSH) Stock Price Up 4.5% – Time to Buy?

Cognizant Technology Solutions Co. (NASDAQ:CTSH)’s stock price traded up 4.5% during trading on Monday . The company traded as high as $86.99 and last traded at $86.94. 4,080,575 shares were traded during trading, an increase of 13% from the average session volume of 3,619,624 shares. The stock had previously closed at $83.23.

Wall Street Analyst Weigh In

CTSH has been the topic of several recent research reports. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. BMO Capital Markets upped their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, February 6th. Morgan Stanley raised their target price on Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 6th. Finally, Barclays upped their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Sixteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $83.67.

Cognizant Technology Solutions Trading Up 0.9 %

The stock has a market cap of $41.55 billion, a P/E ratio of 18.63, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The business’s fifty day simple moving average is $81.98 and its 200 day simple moving average is $79.28.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. As a group, analysts expect that Cognizant Technology Solutions Co. will post 4.98 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were paid a $0.31 dividend. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 27.49%.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several large investors have recently made changes to their positions in the company. Addison Advisors LLC raised its holdings in Cognizant Technology Solutions by 127.7% during 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 last quarter. Duncker Streett & Co. Inc. acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Cognizant Technology Solutions during the third quarter worth approximately $30,000. Trust Co. of Vermont boosted its stake in Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after acquiring an additional 292 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth $36,000. 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.