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

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) have received a consensus recommendation of “Hold” from the twenty research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $79.47.

Several research analysts recently commented on the company. JPMorgan Chase & Co. raised their target price 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. Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price objective for the company. The Goldman Sachs Group reissued a “neutral” rating and set a $76.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Finally, TD Cowen lifted their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, October 31st.

Cognizant Technology Solutions Stock Down 0.4 %

Shares of CTSH stock opened at $80.75 on Thursday. The stock has a market cap of $40.04 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 2.22 and a beta of 1.05. Cognizant Technology Solutions has a one year low of $63.79 and a one year high of $82.41. The stock has a fifty day moving average price of $77.24 and a 200 day moving average price of $73.56. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.15 by $0.10. The firm had revenue of $5.04 billion during 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 quarterly revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business earned $1.16 earnings per share. Analysts predict that Cognizant Technology Solutions will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were given a $0.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. Cognizant Technology Solutions’s payout ratio is 26.55%.

Institutional Trading of Cognizant Technology Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. increased its position in Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares during the period. Benjamin Edwards Inc. increased its position 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 worth $36,000 after purchasing an additional 158 shares during the period. Addison Advisors LLC increased its position in Cognizant Technology Solutions by 127.7% in the third 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 period. Meeder Asset Management Inc. increased its position in Cognizant Technology Solutions by 32.5% in 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 period. Finally, V Square Quantitative Management LLC increased its position in Cognizant Technology Solutions by 1.8% in the third quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock worth $862,000 after purchasing an additional 194 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.