Cognizant Technology Solutions Co. (NASDAQ:CTSH) Receives $75.44 Consensus PT from Brokerages

Cognizant Technology Solutions Co. (NASDAQ:CTSH) has been given an average rating of “Hold” by the eighteen analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $75.44.

A number of research analysts recently weighed in on the stock. BMO Capital Markets lowered their target price on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 30th. Susquehanna dropped their price objective on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Citigroup decreased their target price on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Guggenheim started coverage on Cognizant Technology Solutions in a report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd.

Cognizant Technology Solutions Trading Down 0.5 %

NASDAQ:CTSH opened at $68.30 on Monday. The firm has a market capitalization of $33.96 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 2.03 and a beta of 1.05. 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 business has a fifty day moving average price of $67.14 and a 200-day moving average price of $72.24. Cognizant Technology Solutions has a one year low of $62.14 and a one year high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The business had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.11 earnings per share. Sell-side analysts forecast that Cognizant Technology Solutions will post 4.61 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Friday, May 17th. Cognizant Technology Solutions’s payout ratio is 28.85%.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several large investors have recently added to or reduced their stakes in the stock. Vision Capital Management Inc. boosted its holdings in shares of Cognizant Technology Solutions by 0.4% in the 4th quarter. Vision Capital Management Inc. now owns 38,612 shares of the information technology service provider’s stock worth $2,916,000 after purchasing an additional 144 shares during the period. Nilsine Partners LLC boosted its stake in Cognizant Technology Solutions by 4.3% during the fourth quarter. Nilsine Partners LLC now owns 3,756 shares of the information technology service provider’s stock worth $284,000 after buying an additional 156 shares during the period. Unison Advisors LLC increased its position in Cognizant Technology Solutions by 0.6% during the first quarter. Unison Advisors LLC now owns 29,226 shares of the information technology service provider’s stock valued at $2,142,000 after acquiring an additional 172 shares during the last quarter. Valley National Advisers Inc. raised its stake in shares of Cognizant Technology Solutions by 43.2% in the fourth quarter. Valley National Advisers Inc. now owns 590 shares of the information technology service provider’s stock valued at $44,000 after acquiring an additional 178 shares during the period. Finally, Choate Investment Advisors lifted its holdings in shares of Cognizant Technology Solutions by 0.4% in the 1st quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider’s stock worth $3,558,000 after acquiring an additional 180 shares during the last quarter. 92.44% of the stock is 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.