Cognizant Technology Solutions (NASDAQ:CTSH) Given New $77.00 Price Target at BMO Capital Markets

Cognizant Technology Solutions (NASDAQ:CTSH - Free Report) had its price target decreased by BMO Capital Markets from $85.00 to $77.00 in a research report report published on Tuesday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the information technology service provider's stock.

A number of other analysts also recently issued reports on CTSH. Wolfe Research upgraded shares of Cognizant Technology Solutions from an underperform rating to a peer perform rating in a report on Thursday, January 4th. Mizuho assumed coverage on Cognizant Technology Solutions in a research note on Tuesday, January 30th. They set a neutral rating and a $82.00 price target for the company. Susquehanna reiterated a neutral rating and set a $80.00 price objective (down previously from $87.00) on shares of Cognizant Technology Solutions in a report on Monday, April 1st. Guggenheim initiated coverage on Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a neutral rating and a $80.00 price objective on the stock. Finally, Evercore ISI lifted their price objective on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an in-line rating in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $75.63.

Cognizant Technology Solutions Price Performance

CTSH stock traded down $0.85 during trading on Tuesday, reaching $65.68. The company's stock had a trading volume of 3,857,823 shares, compared to its average volume of 4,285,505. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.05. The company's fifty day moving average is $73.09 and its 200-day moving average is $72.56. The company has a market capitalization of $32.70 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 1.53 and a beta of 1.06. Cognizant Technology Solutions has a 1 year low of $58.47 and a 1 year high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.14. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The firm had revenue of $4.76 billion during the quarter, compared to analysts' expectations of $4.76 billion. During the same quarter last year, the business posted $1.01 earnings per share. The firm's revenue was down 1.7% on a year-over-year basis. On average, research analysts expect that Cognizant Technology Solutions will post 4.59 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.30 per share. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 16th. This represents a $1.20 dividend on an annualized basis and a yield of 1.83%. Cognizant Technology Solutions's dividend payout ratio is presently 28.57%.

Insider Transactions at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of the firm's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the transaction, the executive vice president now owns 8,312 shares in the company, valued at approximately $640,522.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.27% of the company's stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Institutional investors have recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC acquired a new stake in Cognizant Technology Solutions during the fourth quarter worth about $26,000. NBC Securities Inc. purchased a new stake in Cognizant Technology Solutions in the 3rd quarter worth approximately $27,000. Spire Wealth Management grew its stake in shares of Cognizant Technology Solutions by 79.1% during the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider's stock worth $34,000 after purchasing an additional 193 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at approximately $40,000. Finally, Quarry LP purchased a new stake in Cognizant Technology Solutions during the fourth quarter worth $43,000. 92.44% of the stock is owned by hedge funds and other 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.