Cognizant Technology Solutions’ (CTSH) Buy Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reissued their buy rating on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a report released on Tuesday morning. They currently have a $78.00 price objective on the information technology service provider’s stock.

Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Cognizant Technology Solutions from a buy rating to a hold rating in a research report on Tuesday. Vetr raised Cognizant Technology Solutions from a sell rating to a buy rating and set a $76.85 price objective for the company in a research report on Tuesday, September 19th. Zacks Investment Research downgraded Cognizant Technology Solutions from a buy rating to a hold rating in a research report on Thursday, August 10th. Needham & Company LLC reissued a buy rating and set a $78.00 price target (up previously from $72.00) on shares of Cognizant Technology Solutions in a research report on Wednesday, August 9th. Finally, Berenberg Bank raised Cognizant Technology Solutions from a hold rating to a buy rating and boosted their price target for the company from $65.00 to $85.00 in a research report on Tuesday, August 8th. Six investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $81.91.

Shares of Cognizant Technology Solutions (NASDAQ CTSH) traded up $0.11 during trading hours on Tuesday, hitting $70.43. The stock had a trading volume of 3,263,000 shares, compared to its average volume of 3,977,184. The stock has a market capitalization of $41,463.84, a P/E ratio of 20.99, a P/E/G ratio of 1.58 and a beta of 1.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. Cognizant Technology Solutions has a twelve month low of $51.52 and a twelve month high of $76.51.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.13. The business had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 earnings per share. research analysts forecast that Cognizant Technology Solutions will post 3.35 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Monday, November 20th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Friday, November 17th. Cognizant Technology Solutions’s dividend payout ratio is presently 18.52%.

In other Cognizant Technology Solutions news, CEO Francisco Dsouza sold 482,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $72.04, for a total transaction of $34,723,280.00. Following the transaction, the chief executive officer now owns 621,643 shares in the company, valued at $44,783,161.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Karen Mcloughlin sold 9,482 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $72.24, for a total value of $684,979.68. Following the transaction, the chief financial officer now owns 52,200 shares in the company, valued at approximately $3,770,928. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 652,042 shares of company stock worth $47,088,347. 1.08% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC lifted its stake in shares of Cognizant Technology Solutions by 81.6% in the second quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock worth $1,664,366,000 after acquiring an additional 11,262,360 shares in the last quarter. Edgewood Management LLC lifted its stake in shares of Cognizant Technology Solutions by 9.3% in the third quarter. Edgewood Management LLC now owns 16,915,676 shares of the information technology service provider’s stock worth $1,227,063,000 after acquiring an additional 1,443,368 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Cognizant Technology Solutions by 3.2% in the third quarter. Nordea Investment Management AB now owns 10,076,020 shares of the information technology service provider’s stock worth $730,914,000 after acquiring an additional 313,364 shares in the last quarter. Comgest Global Investors S.A.S. lifted its stake in shares of Cognizant Technology Solutions by 24.5% in the third quarter. Comgest Global Investors S.A.S. now owns 7,416,617 shares of the information technology service provider’s stock worth $538,001,000 after acquiring an additional 1,461,800 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its stake in shares of Cognizant Technology Solutions by 4.4% in the second quarter. Pzena Investment Management LLC now owns 7,010,880 shares of the information technology service provider’s stock worth $465,522,000 after acquiring an additional 296,899 shares in the last quarter. Institutional investors own 87.06% of the company’s stock.

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About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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