Barclays Issues Pessimistic Forecast for Cognizant Technology Solutions (NASDAQ:CTSH) Stock Price

Cognizant Technology Solutions (NASDAQ:CTSH - Free Report) had its price target lowered by Barclays from $103.00 to $90.00 in a research report report published on Friday, Marketbeat Ratings reports. The firm currently has an overweight rating on the information technology service provider's stock.

A number of other analysts have also recently commented on the stock. Guggenheim restated a "neutral" rating on shares of Cognizant Technology Solutions in a report on Wednesday, April 23rd. UBS Group lowered their target price on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Mizuho upgraded shares of Cognizant Technology Solutions to a "hold" rating in a research note on Wednesday, March 19th. BMO Capital Markets upped their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a "market perform" rating in a research report on Thursday, February 6th. Finally, Robert W. Baird reduced their price target on shares of Cognizant Technology Solutions from $90.00 to $78.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Fifteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $83.13.

Cognizant Technology Solutions Trading Down 0.5 %

CTSH stock traded down $0.34 during trading on Friday, hitting $72.95. 1,268,490 shares of the company traded hands, compared to its average volume of 3,586,935. The firm has a market capitalization of $36.08 billion, a PE ratio of 16.18, a P/E/G ratio of 2.11 and a beta of 1.03. Cognizant Technology Solutions has a 1 year low of $63.79 and a 1 year high of $90.82. The company has a 50-day moving average of $76.32 and a 200-day moving average of $78.61. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. Analysts predict that Cognizant Technology Solutions will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions announced that its board has authorized a share repurchase program on Tuesday, March 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology service provider to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were issued a $0.31 dividend. This is an increase from Cognizant Technology Solutions's previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Tuesday, February 18th. Cognizant Technology Solutions's payout ratio is currently 27.49%.

Institutional Trading of Cognizant Technology Solutions

A number of large investors have recently made changes to their positions in the business. Unison Advisors LLC lifted its position in Cognizant Technology Solutions by 0.4% during the fourth quarter. Unison Advisors LLC now owns 29,595 shares of the information technology service provider's stock valued at $2,276,000 after acquiring an additional 114 shares during the last quarter. Congress Wealth Management LLC DE raised its stake in Cognizant Technology Solutions by 0.5% in the 4th quarter. Congress Wealth Management LLC DE now owns 24,965 shares of the information technology service provider's stock worth $1,920,000 after acquiring an additional 126 shares during the last quarter. CoreCap Advisors LLC grew its stake in Cognizant Technology Solutions by 21.5% during the 4th quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider's stock valued at $55,000 after purchasing an additional 126 shares during the last quarter. Sound View Wealth Advisors Group LLC grew its stake in Cognizant Technology Solutions by 4.6% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 2,884 shares of the information technology service provider's stock valued at $222,000 after purchasing an additional 127 shares during the last quarter. Finally, Graypoint LLC grew its stake in Cognizant Technology Solutions by 2.9% during the 4th quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider's stock valued at $369,000 after purchasing an additional 134 shares during the last quarter. 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.