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

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) have been assigned an average recommendation of “Hold” from the twenty research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $80.35.

Several equities analysts recently commented on the company. Robert W. Baird boosted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Mizuho lifted their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $76.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the transaction, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. The trade was a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CTSH. Addison Advisors LLC boosted its position in shares of Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after buying an additional 189 shares during the period. Ashton Thomas Securities LLC bought a new stake in Cognizant Technology Solutions during the 3rd quarter valued at $30,000. Pinnacle Bancorp Inc. boosted its position in Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after acquiring an additional 146 shares during the period. Eastern Bank bought a new position in shares of Cognizant Technology Solutions in the third quarter worth $37,000. Finally, Benjamin Edwards Inc. increased its holdings in shares of Cognizant Technology Solutions by 42.1% during the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 158 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Down 0.9 %

Shares of CTSH stock opened at $79.20 on Monday. Cognizant Technology Solutions has a fifty-two week low of $63.79 and a fifty-two week high of $82.46. The firm’s 50 day moving average price is $78.83 and its two-hundred day moving average price is $75.58. The stock has a market cap of $39.27 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 2.24 and a beta of 1.06. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The firm had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the prior year, the company earned $1.16 EPS. The firm’s revenue was up 3.0% on a year-over-year basis. On average, analysts anticipate that Cognizant Technology Solutions will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were issued 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 1.52%. Cognizant Technology Solutions’s dividend payout ratio is currently 26.55%.

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.