Analysts Set Cognizant Technology Solutions Co. (NASDAQ:CTSH) PT at $81.19

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) have been assigned an average rating of “Hold” from the eighteen brokerages that are covering the stock, Marketbeat.com reports. Fourteen investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $81.19.

A number of brokerages recently weighed in on CTSH. TD Cowen boosted their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Mizuho upped their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Robert W. Baird lifted their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Finally, Barclays upgraded shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $80.00 to $95.00 in a report on Tuesday, December 17th.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock opened at $77.81 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The stock has a market cap of $38.58 billion, a PE ratio of 17.21, a P/E/G ratio of 1.96 and a beta of 1.07. Cognizant Technology Solutions has a 12-month low of $63.79 and a 12-month high of $82.46. The business’s 50-day moving average price is $78.93 and its two-hundred day moving average price is $76.51.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the prior year, the company earned $1.16 EPS. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, analysts expect that Cognizant Technology Solutions will post 4.66 earnings per share for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is presently 26.55%.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the sale, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of large investors have recently modified their holdings of CTSH. Graypoint LLC lifted its stake in shares of Cognizant Technology Solutions by 2.9% in the fourth quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider’s stock valued at $369,000 after buying an additional 134 shares in the last quarter. Sandy Cove Advisors LLC raised its holdings in shares of Cognizant Technology Solutions by 3.2% in the 4th quarter. Sandy Cove Advisors LLC now owns 4,336 shares of the information technology service provider’s stock worth $333,000 after acquiring an additional 135 shares during the last quarter. Pinnacle Bancorp Inc. lifted its position in Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after acquiring an additional 146 shares in the last quarter. Benjamin Edwards Inc. boosted its stake in Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 158 shares during the last quarter. Finally, Ritholtz Wealth Management increased its holdings in Cognizant Technology Solutions by 2.1% during the 4th quarter. Ritholtz Wealth Management now owns 8,704 shares of the information technology service provider’s stock worth $669,000 after purchasing an additional 183 shares in the last quarter. 92.44% of the stock is currently 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. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.