Citigroup Trims Cognizant Technology Solutions (NASDAQ:CTSH) Target Price 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 released on Monday, Benzinga reports. Citigroup currently has a buy rating on the information technology service provider’s stock.

Several other research analysts also recently commented on CTSH. BMO Capital Markets reduced their target price on Cognizant Technology Solutions from $88.00 to $85.00 and set a market perform rating for the company in a research note on Wednesday, February 7th. Wedbush lifted their target price on Cognizant Technology Solutions from $75.00 to $85.00 and gave the stock an outperform rating in a research note on Tuesday, December 26th. Jefferies Financial Group upgraded Cognizant Technology Solutions from a hold rating to a buy rating and lifted their target price for the stock from $70.00 to $85.00 in a research note on Thursday, January 11th. Societe Generale reiterated a sell rating and set a $67.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. Finally, Evercore ISI lifted their target price on 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 research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $76.44.

Cognizant Technology Solutions Trading Down 0.4 %

NASDAQ CTSH opened at $67.52 on Monday. The stock’s 50-day moving average is $73.94 and its 200-day moving average is $72.55. Cognizant Technology Solutions has a one year low of $58.09 and a one year high of $80.09. The firm has a market cap of $33.61 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.14. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. Cognizant Technology Solutions’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 EPS. Sell-side analysts anticipate that Cognizant Technology Solutions will post 4.59 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.78%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, February 16th. Cognizant Technology Solutions’s payout ratio is presently 28.57%.

Insider Buying and Selling

In other news, EVP Kathryn Diaz sold 900 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the transaction, the executive vice president now directly owns 8,312 shares in the company, valued at approximately $640,522.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cognizant Technology Solutions

Hedge funds and other institutional investors have recently modified their holdings of the stock. 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 lifted its stake 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 acquiring an additional 193 shares during 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.

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.