Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) have been given an average rating of "Hold" by the twenty-six brokerages that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $79.84.
Several brokerages have weighed in on CTSH. Zacks Investment Research upgraded Cognizant Technology Solutions from a "sell" rating to a "hold" rating and set a $79.00 price objective on the stock in a research note on Monday, May 10th. Morgan Stanley lowered their target price on Cognizant Technology Solutions from $95.00 to $93.00 and set an "overweight" rating on the stock in a research note on Thursday, May 6th. Susquehanna Bancshares lowered their target price on Cognizant Technology Solutions from $99.00 to $91.00 and set a "positive" rating on the stock in a research note on Wednesday, June 30th. Finally, Susquehanna lowered their target price on Cognizant Technology Solutions from $99.00 to $91.00 and set a "positive" rating on the stock in a research note on Wednesday, June 30th.
Shares of NASDAQ:CTSH opened at $67.75 on Thursday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The company's fifty day moving average is $70.07. Cognizant Technology Solutions has a 1-year low of $61.28 and a 1-year high of $82.73. The company has a market cap of $35.73 billion, a PE ratio of 23.77, a PEG ratio of 1.54 and a beta of 1.14.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Tuesday, May 4th. The information technology service provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.03. Cognizant Technology Solutions had a return on equity of 16.77% and a net margin of 9.09%. The business had revenue of $4.40 billion for the quarter, compared to analysts' expectations of $4.36 billion. During the same period last year, the business earned $0.96 EPS. The business's revenue was up 4.1% on a year-over-year basis. Equities research analysts forecast that Cognizant Technology Solutions will post 3.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 28th. Shareholders of record on Thursday, May 20th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Wednesday, May 19th. Cognizant Technology Solutions's payout ratio is presently 28.07%.
In other news, Director Michael Patsalos-Fox sold 5,858 shares of the business's stock in a transaction dated Thursday, May 27th. The stock was sold at an average price of $71.20, for a total transaction of $417,089.60. Following the completion of the transaction, the director now owns 57,830 shares of the company's stock, valued at $4,117,496. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Malcolm Frank sold 1,031 shares of the business's stock in a transaction dated Thursday, June 3rd. The stock was sold at an average price of $70.84, for a total value of $73,036.04. Following the transaction, the insider now directly owns 45,178 shares of the company's stock, valued at approximately $3,200,409.52. The disclosure for this sale can be found here. Insiders have sold a total of 12,785 shares of company stock valued at $904,731 in the last ninety days. Insiders own 0.31% of the company's stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC grew its holdings in shares of Cognizant Technology Solutions by 3.4% during the first quarter. Signaturefd LLC now owns 4,067 shares of the information technology service provider's stock worth $318,000 after purchasing an additional 132 shares in the last quarter. SP Asset Management grew its holdings in shares of Cognizant Technology Solutions by 0.3% during the first quarter. SP Asset Management now owns 46,986 shares of the information technology service provider's stock worth $3,862,000 after purchasing an additional 147 shares in the last quarter. Rational Advisors LLC grew its holdings in shares of Cognizant Technology Solutions by 1.2% during the first quarter. Rational Advisors LLC now owns 12,742 shares of the information technology service provider's stock worth $995,000 after purchasing an additional 151 shares in the last quarter. Aries Wealth Management grew its holdings in shares of Cognizant Technology Solutions by 4.1% during the first quarter. Aries Wealth Management now owns 3,890 shares of the information technology service provider's stock worth $309,000 after purchasing an additional 152 shares in the last quarter. Finally, Gofen & Glossberg LLC IL lifted its position in Cognizant Technology Solutions by 4.3% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 3,782 shares of the information technology service provider's stock worth $262,000 after buying an additional 156 shares during the last quarter. 89.69% of the stock is owned by institutional investors.
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. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.
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