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

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) have been given a consensus rating of “Hold” by the eighteen brokerages that are currently covering the company, MarketBeat reports. Fourteen equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $81.19.

CTSH has been the subject of several research analyst reports. Robert W. Baird lifted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. TD Cowen upped their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions 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 transaction of $400,550.00. Following the transaction, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several hedge funds have recently made changes to their positions in the company. Graypoint LLC lifted its holdings in Cognizant Technology Solutions by 2.9% during the fourth quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider’s stock worth $369,000 after buying an additional 134 shares during the period. Sandy Cove Advisors LLC lifted its stake in shares of Cognizant Technology Solutions by 3.2% during the 4th quarter. Sandy Cove Advisors LLC now owns 4,336 shares of the information technology service provider’s stock worth $333,000 after purchasing an additional 135 shares during the last quarter. Pinnacle Bancorp Inc. grew its stake 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 valued at $35,000 after purchasing an additional 146 shares during the last quarter. Benjamin Edwards Inc. raised its holdings 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 in the last quarter. Finally, Ritholtz Wealth Management lifted its position in shares of Cognizant Technology Solutions by 2.1% during the fourth quarter. Ritholtz Wealth Management now owns 8,704 shares of the information technology service provider’s stock valued at $669,000 after buying an additional 183 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Stock Up 0.8 %

CTSH stock opened at $78.45 on Friday. The company’s 50 day moving average is $78.86 and its 200 day moving average is $76.64. The stock has a market cap of $38.90 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 2.03 and a beta of 1.07. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. Cognizant Technology Solutions has a 1-year low of $63.79 and a 1-year high of $82.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS 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 for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Sell-side analysts predict that Cognizant Technology Solutions will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio (DPR) 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.