Wednesday, August 10

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

Ad ProTrading Research

Buying the Bear Market…

Investors have been seeing their assets lose value… So what should you do when this happens?
We say “BUY”… But don’t guess your way through it…
Click Here to See My Top 3 Opportunities.

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

(Get Rating)

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.

Read More

Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should you invest $1,000 in Cognizant Technology Solutions right now?

Before you consider Cognizant Technology Solutions, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Cognizant Technology Solutions wasn’t on the list.

While Cognizant Technology Solutions currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here



Source link