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

Cognizant Technology Solutions Corporation (NASDAQ:CTSH - Get Free Report) has earned a consensus rating of "Hold" from the eighteen analysts that are currently covering the stock, MarketBeat Ratings reports. Fourteen investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $85.00.

A number of equities research analysts have recently weighed in on CTSH shares. Barclays dropped their price target on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a research note on Wednesday, March 26th. Susquehanna raised shares of Cognizant Technology Solutions from a "neutral" rating to a "positive" rating and boosted their target price for the stock from $77.00 to $90.00 in a research note on Thursday, May 1st. Robert W. Baird boosted their target price on shares of Cognizant Technology Solutions from $78.00 to $82.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Finally, TD Securities boosted their target price on shares of Cognizant Technology Solutions from $77.00 to $79.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st.

Institutional Trading of Cognizant Technology Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fulton Bank N.A. purchased a new stake in shares of Cognizant Technology Solutions during the second quarter valued at approximately $209,000. NorthCrest Asset Manangement LLC lifted its position in Cognizant Technology Solutions by 2.5% during the second quarter. NorthCrest Asset Manangement LLC now owns 108,728 shares of the information technology service provider's stock valued at $8,805,000 after buying an additional 2,642 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Cognizant Technology Solutions by 375.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 262,037 shares of the information technology service provider's stock valued at $21,220,000 after buying an additional 206,966 shares during the period. Mn Services Vermogensbeheer B.V. lifted its position in Cognizant Technology Solutions by 1.3% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 183,837 shares of the information technology service provider's stock valued at $14,345,000 after buying an additional 2,400 shares during the period. Finally, Baader Bank Aktiengesellschaft increased its holdings in shares of Cognizant Technology Solutions by 2.7% during the second quarter. Baader Bank Aktiengesellschaft now owns 12,966 shares of the information technology service provider's stock valued at $1,009,000 after acquiring an additional 340 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $76.73 on Friday. The stock has a market capitalization of $37.82 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 1.84 and a beta of 0.96. The business has a 50-day moving average of $79.48 and a 200-day moving average of $78.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.22. Cognizant Technology Solutions has a fifty-two week low of $65.52 and a fifty-two week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The information technology service provider reported $1.23 EPS for the quarter, topping analysts' consensus estimates of $1.20 by $0.03. The business had revenue of $5.12 billion during the quarter, compared to analysts' expectations of $5.06 billion. Cognizant Technology Solutions had a return on equity of 16.73% and a net margin of 11.73%. Cognizant Technology Solutions's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company posted $1.12 earnings per share. As a group, sell-side analysts predict that Cognizant Technology Solutions will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Monday, May 19th. Cognizant Technology Solutions's dividend payout ratio (DPR) is 26.11%.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.