As reported by Marketbeat Ratings, shares of Cognizant Technology Solutions, Inc. (NASDAQ:CTSH – Get Free Report ) have received an average recommendation of “Hold” from the 18 analysts currently covering the company. 1 investment analysts have rated the stock as a Sell, 14 have rated it as a Hold, and 3 have rated it as a Buy. The average 12-month target price among brokerages that have updated their coverage of the company’s stock in the past year is $75.44.
A number of brokerages have recently issued reports on CTSH. BMO Capital Markets lowered their price target on Cognizant Technology Solutions from $85.00 to $77.00 and gave the stock a “in line with market” rating in a research report on Tuesday, April 30th. JPMorgan Chase lowered their price target on Cognizant Technology Solutions from $81.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Mizuho reaffirmed their “neutral” rating and set a $82.00 price target on Cognizant Technology Solutions in a research note on Tuesday, June 11th. The Goldman Sachs Group began researching Cognizant Technology Solutions in a research note on Monday, June 24th. The firm gave the company a “neutral” rating and a $72.00 price target. Finally, Citigroup lowered their price objective on Cognizant Technology Solutions from $90.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, April 22nd.
Get the latest research report on Cognizant Technology Solutions
Cognizant Technology Solutions shares rose 0.4%
CTSH shares opened trading at $68.00 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35. The stock has a market capitalization of $33.81 billion, a P/E ratio of 16.35, a P/G ratio of 2.03 and a beta of 1.04. Cognizant Technology Solutions Inc.’s 52-week low is $62.14 and its 52-week high is $80.09. The company’s 50-day moving average is $67.13 and its 200-day moving average is $72.34.
Cognizant Technology Solutions (NASDAQ:CTSH – Get free report ) announced its latest earnings results on Wednesday, May 1st. The information technology services provider reported quarterly earnings per share (EPS) of $1.12, beating the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The business had revenue of $4.76 billion for the quarter, beating analyst expectations of $4.72 billion. Year-over-year earnings per share of $1.11 were down 1.1% for Cognizant Technology Solutions. On average, sell-side analysts expect Cognizant Technology Solutions to post $4.61 earnings per share for the current fiscal year.
Cognizant Technology Solutions Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were paid a $0.30 dividend. This works out to an annualized dividend of $1.20, for a dividend yield of 1.76%. The ex-dividend date was Friday, May 17th. Cognizant Technology Solutions’ dividend payout ratio is currently 28.85%.
Institutional investor inflows and outflows
Several large investors recently modified their holdings in CTSH. Dark Forest Capital Management LP purchased a new stake in Cognizant Technology Solutions in the third quarter valued at approximately $216,000. LPL Financial LLC increased its stake in Cognizant Technology Solutions by 14.9% in the third quarter. LPL Financial LLC now owns 126,168 shares of the information technology services provider’s stock valued at $8,547,000 after acquiring an additional 16,400 shares during the period. Teza Capital Management LLC purchased a new stake in Cognizant Technology Solutions in the third quarter valued at approximately $356,000. Gotham Asset Management LLC increased its stake in Cognizant Technology Solutions by 3.1% in the third quarter. Gotham Asset Management LLC now holds 6,598 shares of the information technology services provider’s stock, valued at $447,000, after purchasing an additional 197 shares during the period. Finally, Jones Financial Companies increased its holdings in Cognizant Technology Solutions by 39.7% during the third quarter. Jones Financial Companies now owns 898 shares of the information technology services provider’s stock, valued at $61,000, after purchasing an additional 255 shares in the third quarter. Hedge funds and other institutional investors hold 92.44% of the company’s stock.
About Cognizant Technology Solutions
(Get your free report
Cognizant Technology Solutions Corporation is a professional services company providing consulting, technology and outsourcing services throughout North America, Europe and internationally. The company operates through four segments: Financial Services, Health Sciences, Products & Resources, and Communications, Media & Technology.
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