Cognizant Technology Solutions (NASDAQ:CTSH) PT Lowered to $82.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target decreased by Citigroup from $90.00 to $82.00 in a research note issued to investors on Monday, Benzinga reports. Citigroup currently has a buy rating on the information technology service provider’s stock.

Several other equities analysts have also recently weighed in on CTSH. Mizuho began coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, January 30th. They set a neutral rating and a $82.00 target price for the company. Barclays lifted their price objective on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an equal weight rating in a research note on Tuesday, January 23rd. Jefferies Financial Group raised shares of Cognizant Technology Solutions from a hold rating to a buy rating and lifted their price objective for the stock from $70.00 to $85.00 in a research note on Thursday, January 11th. Wedbush lifted their price objective on shares of Cognizant Technology Solutions from $75.00 to $85.00 and gave the stock an outperform rating in a research note on Tuesday, December 26th. Finally, Evercore ISI lifted their price objective on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an in-line rating in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Cognizant Technology Solutions presently has a consensus rating of Hold and an average price target of $76.44.

Cognizant Technology Solutions Stock Performance

CTSH opened at $66.76 on Monday. The stock has a market capitalization of $33.24 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 1.55 and a beta of 1.06. The company has a fifty day moving average of $73.72 and a 200 day moving average of $72.51. Cognizant Technology Solutions has a fifty-two week low of $58.09 and a fifty-two week high of $80.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.25 and a current ratio of 2.25.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.14. The company had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.76 billion. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. Cognizant Technology Solutions’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the company posted $1.01 earnings per share. As a group, sell-side analysts forecast that Cognizant Technology Solutions will post 4.59 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were issued a dividend of $0.30 per share. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.20 dividend on an annualized basis and a yield of 1.80%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.57%.

Insider Activity at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of the sale, the executive vice president now owns 8,312 shares in the company, valued at approximately $640,522.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTSH. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $26,000. NBC Securities Inc. bought a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at about $27,000. Spire Wealth Management raised its holdings in shares of Cognizant Technology Solutions by 79.1% in the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 193 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $40,000. Finally, Quarry LP bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $43,000. Institutional investors 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.