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

Cognizant Technology Solutions Co. (NASDAQ:CTSH - Get Free Report) has been assigned an average rating of "Hold" from the eighteen analysts that are currently covering the stock, MarketBeat.com reports. Fourteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $85.00.

A number of research analysts have recently weighed in on CTSH shares. Mizuho upgraded shares of Cognizant Technology Solutions to a "hold" rating in a report on Wednesday, March 19th. JPMorgan Chase & Co. upgraded shares of Cognizant Technology Solutions from a "neutral" rating to an "overweight" rating and raised their price target for the company from $88.00 to $98.00 in a report on Monday, May 19th. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, May 1st. Barclays cut their price target on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $93.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, March 26th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CTSH. ICICI Prudential Asset Management Co Ltd boosted its position in shares of Cognizant Technology Solutions by 50.7% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider's stock valued at $33,041,000 after acquiring an additional 144,535 shares in the last quarter. Todd Asset Management LLC boosted its position in shares of Cognizant Technology Solutions by 24.4% during the 4th quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider's stock valued at $33,568,000 after acquiring an additional 85,539 shares in the last quarter. Matthews International Capital Management LLC boosted its position in shares of Cognizant Technology Solutions by 52.0% during the 4th quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider's stock valued at $3,853,000 after acquiring an additional 17,134 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Cognizant Technology Solutions by 2.7% during the 4th quarter. Retirement Systems of Alabama now owns 1,219,380 shares of the information technology service provider's stock valued at $93,770,000 after acquiring an additional 31,530 shares in the last quarter. Finally, Cibc World Market Inc. boosted its position in shares of Cognizant Technology Solutions by 34.0% during the 4th quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider's stock valued at $214,141,000 after acquiring an additional 705,946 shares in the last quarter. Institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Up 1.9%

Shares of NASDAQ:CTSH traded up $1.52 during trading on Thursday, reaching $80.64. 2,752,714 shares of the company traded hands, compared to its average volume of 3,572,205. The firm has a fifty day simple moving average of $75.16 and a 200 day simple moving average of $78.99. The firm has a market cap of $39.75 billion, a P/E ratio of 17.88, a price-to-earnings-growth ratio of 2.11 and a beta of 0.93. Cognizant Technology Solutions has a 1-year low of $63.79 and a 1-year high of $90.82. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.03. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.06 billion. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. The company's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $1.12 EPS. Analysts anticipate that Cognizant Technology Solutions will post 4.98 earnings per share for the current fiscal year.

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

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th will be issued a dividend of $0.31 per share. The ex-dividend date is Monday, May 19th. This represents a $1.24 annualized dividend and a dividend yield of 1.54%. Cognizant Technology Solutions's payout ratio is 26.11%.

About Cognizant Technology Solutions

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.