Recent Investment Analysts’ Ratings Updates for Cognizant Technology Solutions (CTSH)

Cognizant Technology Solutions (NASDAQ: CTSH) has recently received a number of price target changes and ratings updates:

  • 5/11/2022 – Cognizant Technology Solutions was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
  • 5/9/2022 – Cognizant Technology Solutions was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. They now have a $79.00 price target on the stock. According to Zacks, “Cognizant reported strong first-quarter 2022 results, which reflected robust performances across segments, including Healthcare, Products and Resources as well as Communications, Media and Technology. Moreover, acquisitions strengthened the company’s digital capabilities and international prospects. It is witnessing strength in high-quality, lower-cost technology services, including cloud and digital engineering services, and increased demand for interactive, IoT and analytics solutions. The company raised 2022 revenue guidance. Cognizant expects the operating margin to expand sequentially in the second and third quarters and to be lower than the expected full-year guidance in the fourth quarter. However, the ongoing stiff competition in the IT services market is a major concern. Cognizant’s shares have outperformed the industry year to date.”
  • 5/9/2022 – Cognizant Technology Solutions had its price target lowered by analysts at Cowen Inc. from $98.00 to $95.00.
  • 5/9/2022 – Cognizant Technology Solutions had its price target lowered by analysts at Cowen Inc from $98.00 to $95.00.
  • 5/5/2022 – Cognizant Technology Solutions had its price target lowered by analysts at Citigroup Inc. from $95.00 to $88.00.
  • 5/3/2022 – Cognizant Technology Solutions was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
  • 3/31/2022 – Cognizant Technology Solutions is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.

Shares of CTSH traded up $1.19 during trading hours on Thursday, hitting $72.88. 24,978 shares of the stock were exchanged, compared to its average volume of 3,175,035. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.22 and a current ratio of 2.22. Cognizant Technology Solutions Co. has a 12-month low of $66.19 and a 12-month high of $93.47. The company has a market cap of $37.98 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 1.30 and a beta of 1.10. The stock’s 50-day moving average price is $82.93 and its two-hundred day moving average price is $84.39.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last issued its earnings results on Wednesday, May 4th. The information technology service provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. The company had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Cognizant Technology Solutions had a return on equity of 19.07% and a net margin of 11.59%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 EPS. On average, research analysts expect that Cognizant Technology Solutions Co. will post 4.51 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Friday, May 20th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Thursday, May 19th. Cognizant Technology Solutions’s payout ratio is currently 25.90%.

In other news, Director Leo S. Jr. Mackay sold 4,778 shares of the company’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $88.52, for a total value of $422,948.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Maureen Breakiron-Evans sold 6,371 shares of the company’s stock in a transaction on Friday, February 25th. The shares were sold at an average price of $87.76, for a total value of $559,118.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,703 shares of company stock worth $1,858,347. Corporate insiders own 0.31% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Albion Financial Group UT increased its position in Cognizant Technology Solutions by 1.0% during the fourth quarter. Albion Financial Group UT now owns 11,994 shares of the information technology service provider’s stock worth $1,064,000 after buying an additional 117 shares in the last quarter. Covington Capital Management increased its position in Cognizant Technology Solutions by 6.9% during the fourth quarter. Covington Capital Management now owns 1,804 shares of the information technology service provider’s stock worth $160,000 after buying an additional 117 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in Cognizant Technology Solutions by 4.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 3,007 shares of the information technology service provider’s stock worth $266,000 after buying an additional 124 shares in the last quarter. SP Asset Management increased its position in Cognizant Technology Solutions by 0.3% during the fourth quarter. SP Asset Management now owns 47,145 shares of the information technology service provider’s stock worth $4,074,000 after buying an additional 135 shares in the last quarter. Finally, Concord Wealth Partners increased its position in Cognizant Technology Solutions by 8.2% during the first quarter. Concord Wealth Partners now owns 1,826 shares of the information technology service provider’s stock worth $164,000 after buying an additional 138 shares in the last quarter. 90.73% of the stock is currently owned by hedge funds and other institutional investors.

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; Healthcare; Products and Resources; and Communications, Media and Technology.

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