Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Raised to $103.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective increased by Barclays from $95.00 to $103.00 in a research report sent to investors on Monday,Benzinga reports. Barclays currently has an overweight rating on the information technology service provider’s stock.

A number of other equities analysts have also recently weighed in on CTSH. Deutsche Bank Aktiengesellschaft raised their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Royal Bank of Canada lifted their price target on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. BMO Capital Markets increased their target price on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a report on Thursday, February 6th. Morgan Stanley boosted their price target on shares of Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, Robert W. Baird raised their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $83.67.

Cognizant Technology Solutions Trading Up 0.2 %

Shares of Cognizant Technology Solutions stock opened at $88.08 on Monday. The company’s 50-day moving average price is $79.83 and its 200-day moving average price is $77.84. The company has a market cap of $43.67 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 2.32 and a beta of 1.07. Cognizant Technology Solutions has a 12-month low of $63.79 and a 12-month high of $88.40. The company has a current ratio of 2.09, a quick ratio of 2.23 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. On average, equities analysts expect that Cognizant Technology Solutions will post 4.99 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.31 per share. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.41%. Cognizant Technology Solutions’s payout ratio is presently 26.61%.

Insider Buying and Selling

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. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several hedge funds have recently made changes to their positions in the company. Addison Advisors LLC lifted its position in 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 valued at $26,000 after buying an additional 189 shares during the period. Duncker Streett & Co. Inc. bought a new position in shares of Cognizant Technology Solutions in the 4th quarter worth about $28,000. Ashton Thomas Securities LLC purchased a new position in Cognizant Technology Solutions during the 3rd quarter valued at about $30,000. Trust Co. of Vermont boosted its stake in Cognizant Technology Solutions by 188.4% during the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 292 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Cognizant Technology Solutions in the fourth quarter worth about $36,000. 92.44% of the stock is currently owned by institutional investors.

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.