Cognizant Technology Solutions Corp (NASDAQ:CTSH) has earned an average rating of “Buy” from the twenty-eight ratings firms that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $82.40.
Several research firms have recently issued reports on CTSH. Oppenheimer reissued a “buy” rating and issued a $80.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, November 1st. Morgan Stanley increased their price target on Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 2nd. Sanford C. Bernstein increased their price target on Cognizant Technology Solutions from $84.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, November 2nd. KeyCorp restated a “buy” rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, October 12th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $78.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday, November 1st.
Cognizant Technology Solutions (NASDAQ:CTSH) traded up $0.48 during trading hours on Thursday, hitting $73.19. The stock had a trading volume of 2,222,273 shares, compared to its average volume of 3,985,599. Cognizant Technology Solutions has a 12 month low of $51.52 and a 12 month high of $76.51. The company has a market capitalization of $42,413.17, a PE ratio of 21.47, a price-to-earnings-growth ratio of 1.62 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 (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. equities analysts expect that Cognizant Technology Solutions will post 3.35 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Monday, November 20th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Friday, November 17th. Cognizant Technology Solutions’s dividend payout ratio is 18.52%.
In other news, insider Debashis Chatterjee sold 2,190 shares of the company’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $74.00, for a total transaction of $162,060.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sumithra Gomatam sold 8,000 shares of the company’s stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $72.00, for a total value of $576,000.00. Following the sale, the insider now directly owns 21,908 shares of the company’s stock, valued at $1,577,376. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 581,077 shares of company stock valued at $41,906,954. 1.08% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CTSH. Acrospire Investment Management LLC lifted its holdings in shares of Cognizant Technology Solutions by 92.6% during the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after purchasing an additional 800 shares during the last quarter. Bank of Nova Scotia Trust Co. acquired a new position in Cognizant Technology Solutions during the third quarter valued at $121,000. WFG Advisors LP raised its position in Cognizant Technology Solutions by 46.4% during the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after buying an additional 621 shares during the period. Krilogy Financial LLC acquired a new position in Cognizant Technology Solutions during the second quarter valued at $137,000. Finally, BB&T Investment Services Inc. raised its position in Cognizant Technology Solutions by 86.8% during the third quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock valued at $141,000 after buying an additional 1,011 shares during the period. 85.98% of the stock is owned by institutional investors and hedge funds.
Cognizant Technology Solutions Company Profile
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.
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