Cognizant Technology Solutions Co. (NASDAQ:CTSH) Receives $75.67 Consensus Target Price from Brokerages

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Free Report) have been assigned a consensus rating of “Hold” from the seventeen brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $75.67.

Several brokerages have weighed in on CTSH. Citigroup lowered their target price on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets reduced their price objective on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. StockNews.com cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Guggenheim initiated coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price objective on the stock. Finally, Mizuho initiated coverage on shares of Cognizant Technology Solutions in a report on Tuesday, January 30th. They set a “neutral” rating and a $82.00 target price for the company.

Read Our Latest Stock Report on Cognizant Technology Solutions

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $68.76 on Friday. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $70.24 and a 200-day simple moving average of $72.73. The company has a market cap of $34.19 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 1.60 and a beta of 1.08. Cognizant Technology Solutions has a 12-month low of $61.12 and a 12-month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last released its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter last year, the company earned $1.11 earnings per share. Cognizant Technology Solutions’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts forecast that Cognizant Technology Solutions will post 4.6 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.75%. The ex-dividend date is Friday, May 17th. Cognizant Technology Solutions’s payout ratio is 28.85%.

Insider Buying and Selling

In related news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction on 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 directly owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Advisory Resource Group increased its holdings in Cognizant Technology Solutions by 7.1% in the first quarter. Advisory Resource Group now owns 50,946 shares of the information technology service provider’s stock valued at $3,734,000 after buying an additional 3,382 shares during the last quarter. Plato Investment Management Ltd grew its position in shares of Cognizant Technology Solutions by 4,140.0% in the 1st quarter. Plato Investment Management Ltd now owns 1,060 shares of the information technology service provider’s stock worth $78,000 after acquiring an additional 1,035 shares in the last quarter. LBP AM SA raised its position in shares of Cognizant Technology Solutions by 86.9% during the 1st quarter. LBP AM SA now owns 11,351 shares of the information technology service provider’s stock valued at $832,000 after acquiring an additional 5,278 shares in the last quarter. Tidal Investments LLC boosted its holdings in Cognizant Technology Solutions by 61.8% in the first quarter. Tidal Investments LLC now owns 34,546 shares of the information technology service provider’s stock worth $2,536,000 after purchasing an additional 13,189 shares during the period. Finally, Motley Fool Asset Management LLC increased its stake in Cognizant Technology Solutions by 12.2% during the first quarter. Motley Fool Asset Management LLC now owns 16,858 shares of the information technology service provider’s stock valued at $1,236,000 after purchasing an additional 1,827 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

About Cognizant Technology Solutions

(Get Free Report

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.

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Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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