Cognizant Technology Solutions (NASDAQ:CTSH) Given New $72.00 Price Target at Jefferies Financial Group

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) had its price target decreased by Jefferies Financial Group from $78.00 to $72.00 in a research note issued to investors on Wednesday, The Fly reports. Jefferies Financial Group currently has a hold rating on the information technology service provider’s stock.

Several other analysts have also recently weighed in on the stock. Susquehanna Bancshares dropped their price objective on shares of Cognizant Technology Solutions from $100.00 to $98.00 in a research note on Thursday, July 28th. JPMorgan Chase & Co. cut shares of Cognizant Technology Solutions from an overweight rating to a neutral rating and dropped their price objective for the stock from $82.00 to $77.00 in a research note on Thursday, July 28th. Cowen restated a downgrade rating on shares of Cognizant Technology Solutions in a research report on Thursday, July 28th. HSBC cut shares of Cognizant Technology Solutions from a buy rating to a hold rating and dropped their target price for the company from $90.00 to $79.00 in a research report on Wednesday, August 17th. Finally, UBS Group dropped their target price on shares of Cognizant Technology Solutions from $89.00 to $76.00 and set a neutral rating for the company in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $83.63.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $62.03 on Wednesday. The firm has a 50-day moving average of $66.73 and a 200-day moving average of $75.16. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.23 and a current ratio of 2.23. The stock has a market cap of $32.12 billion, a PE ratio of 14.34, a P/E/G ratio of 1.31 and a beta of 1.06. Cognizant Technology Solutions has a 52-week low of $61.59 and a 52-week high of $93.47.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The information technology service provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.05. Cognizant Technology Solutions had a net margin of 11.74% and a return on equity of 19.36%. The business had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same quarter in the previous year, the company earned $0.99 EPS. The business’s revenue was up 7.0% on a year-over-year basis. On average, sell-side analysts anticipate that Cognizant Technology Solutions will post 4.55 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 30th. Shareholders of record on Friday, August 19th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Thursday, August 18th. Cognizant Technology Solutions’s payout ratio is 25.06%.

Insider Activity

In other news, Director Zein Abdalla sold 4,368 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $65.44, for a total value of $285,841.92. Following the sale, the director now directly owns 13,556 shares of the company’s stock, valued at approximately $887,104.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

Institutional investors have recently modified their holdings of the company. Dark Forest Capital Management LP bought a new position in Cognizant Technology Solutions during the second quarter worth $26,000. Cornerstone Advisory LLC bought a new position in Cognizant Technology Solutions during the fourth quarter worth $27,000. Hardy Reed LLC bought a new position in Cognizant Technology Solutions during the first quarter worth $27,000. Prospera Financial Services Inc boosted its stake in Cognizant Technology Solutions by 77.0% during the second quarter. Prospera Financial Services Inc now owns 393 shares of the information technology service provider’s stock worth $27,000 after acquiring an additional 171 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in Cognizant Technology Solutions by 1,433.3% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 460 shares of the information technology service provider’s stock worth $41,000 after acquiring an additional 430 shares in the last quarter. 90.67% of the stock is owned by institutional investors.

Cognizant Technology Solutions Company Profile

(Get Rating)

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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