Morgan Stanley Issues Positive Forecast for Cognizant Technology Solutions (NASDAQ:CTSH) Stock Price

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective raised by Morgan Stanley from $80.00 to $85.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the information technology service provider’s stock.

Several other research analysts have also weighed in on CTSH. TD Cowen increased their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. BMO Capital Markets increased their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday. Sixteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $83.22.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $87.09 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The business has a 50 day simple moving average of $79.31 and a 200-day simple moving average of $77.45. The firm has a market capitalization of $43.18 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 2.21 and a beta of 1.07. Cognizant Technology Solutions has a 1 year low of $63.79 and a 1 year high of $87.61.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. Equities research analysts anticipate that Cognizant Technology Solutions will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th will be given a dividend of $0.31 per share. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.24 annualized dividend and a yield of 1.42%. Cognizant Technology Solutions’s payout ratio is presently 26.55%.

Insiders Place Their Bets

In related news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the sale, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. This represents a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently modified their holdings of CTSH. Addison Advisors LLC grew its holdings in shares of Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after acquiring an additional 189 shares during the period. Duncker Streett & Co. Inc. acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth approximately $28,000. Ashton Thomas Securities LLC purchased a new stake in Cognizant Technology Solutions in the 3rd quarter valued at approximately $30,000. Trust Co. of Vermont lifted its stake in Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after buying an additional 292 shares in the last quarter. Finally, Pinnacle Bancorp Inc. lifted its stake 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 in the last quarter. 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.