Cognizant Technology Solutions Co. (NASDAQ:CTSH) Given Average Rating of “Hold” by Brokerages

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) have earned a consensus rating of “Hold” from the fifteen analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $81.91.

CTSH has been the topic of a number of research reports. StockNews.com lowered shares of Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 11th. Barclays reduced their price target on shares of Cognizant Technology Solutions from $80.00 to $55.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 19th. JPMorgan Chase & Co. downgraded shares of Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and cut their target price for the company from $82.00 to $77.00 in a research report on Thursday. Susquehanna Bancshares cut their price target on shares of Cognizant Technology Solutions from $100.00 to $98.00 in a research report on Thursday. Finally, BMO Capital Markets reiterated a “maintains” rating on shares of Cognizant Technology Solutions in a research report on Tuesday, July 26th.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $67.96 on Monday. The company’s 50 day moving average price is $69.18 and its 200 day moving average price is $79.57. Cognizant Technology Solutions has a 52 week low of $63.26 and a 52 week high of $93.47. The company has a market capitalization of $35.42 billion, a PE ratio of 16.30, a PEG ratio of 1.37 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.22 and a current ratio of 2.22.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The information technology service provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. Cognizant Technology Solutions had a net margin of 11.59% and a return on equity of 19.07%. The business had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same period in the previous year, the company earned $0.99 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 7.0% on a year-over-year basis. Research analysts expect that Cognizant Technology Solutions will post 4.5 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 30th. Investors of record on Friday, August 19th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, August 18th. Cognizant Technology Solutions’s dividend payout ratio is currently 25.90%.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, EVP Andrew J. Stafford sold 5,867 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $77.24, for a total transaction of $453,167.08. Following the completion of the sale, the executive vice president now owns 5,872 shares in the company, valued at $453,553.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Andrew J. Stafford sold 5,867 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $77.24, for a total transaction of $453,167.08. Following the completion of the sale, the executive vice president now owns 5,872 shares in the company, valued at $453,553.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Patsalos-Fox sold 5,687 shares of the company’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $74.40, for a total value of $423,112.80. Following the sale, the director now owns 57,534 shares of the company’s stock, valued at approximately $4,280,529.60. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. raised its stake in Cognizant Technology Solutions by 4.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 3,007 shares of the information technology service provider’s stock valued at $266,000 after buying an additional 124 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Cognizant Technology Solutions by 29.4% in the first quarter. Park Avenue Securities LLC now owns 6,911 shares of the information technology service provider’s stock worth $620,000 after buying an additional 1,572 shares in the last quarter. JJJ Advisors Inc. raised its position in Cognizant Technology Solutions by 7.2% during the first quarter. JJJ Advisors Inc. now owns 3,783 shares of the information technology service provider’s stock valued at $340,000 after purchasing an additional 254 shares during the period. Ascent Group LLC purchased a new stake in Cognizant Technology Solutions during the fourth quarter valued at approximately $600,000. Finally, Nissay Asset Management Corp Japan ADV grew its stake in shares of Cognizant Technology Solutions by 80.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 106,535 shares of the information technology service provider’s stock valued at $9,452,000 after buying an additional 47,359 shares during the last quarter. 90.73% of the stock is currently owned by institutional investors.

About Cognizant Technology Solutions

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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; Healthcare; Products and Resources; and Communications, Media and Technology.

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