Cognizant Technology Solutions (NASDAQ:CTSH) Reaches New 52-Week Low at $60.85

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) hit a new 52-week low on Friday . The stock traded as low as $60.85 and last traded at $61.46, with a volume of 18588 shares trading hands. The stock had previously closed at $62.04.

Analyst Ratings Changes

Several equities research analysts recently commented on CTSH shares. Barclays cut their target price on Cognizant Technology Solutions from $80.00 to $55.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 19th. Susquehanna Bancshares cut their target price on Cognizant Technology Solutions from $100.00 to $98.00 in a research report on Thursday, July 28th. Jefferies Financial Group cut their target price on Cognizant Technology Solutions from $78.00 to $72.00 and set a “hold” rating on the stock in a research report on Wednesday. Cowen restated a “downgrade” rating on shares of Cognizant Technology Solutions in a research report on Thursday, July 28th. Finally, HSBC lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating and cut their target price for the company from $90.00 to $79.00 in a research report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $83.63.

Cognizant Technology Solutions Trading Up 0.3 %

The company has a market capitalization of $32.21 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06. The company’s fifty day moving average is $66.40 and its 200-day moving average is $74.74. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.23 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last posted its earnings results on Wednesday, July 27th. The information technology service provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.92 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts anticipate that Cognizant Technology Solutions Co. will post 4.55 EPS for the current fiscal 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. The ex-dividend date was Thursday, August 18th. This represents a $1.08 dividend on an annualized basis and a yield of 1.74%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 25.06%.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, Director Zein Abdalla sold 4,368 shares of Cognizant Technology Solutions stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $65.44, for a total transaction of $285,841.92. Following the completion of the transaction, the director now owns 13,556 shares in the company, valued at $887,104.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

Institutional Trading of Cognizant Technology Solutions

Several institutional investors have recently added to or reduced their stakes in CTSH. Dark Forest Capital Management LP bought a new position in Cognizant Technology Solutions in the 2nd quarter valued at about $26,000. Cornerstone Advisory LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $27,000. Hardy Reed LLC acquired a new stake in shares of Cognizant Technology Solutions in the first quarter worth $27,000. Prospera Financial Services Inc lifted its position in Cognizant Technology Solutions by 77.0% in the second quarter. Prospera Financial Services Inc now owns 393 shares of the information technology service provider’s stock worth $27,000 after purchasing an additional 171 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of 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 valued at $41,000 after acquiring an additional 430 shares during the period. 90.67% of the stock is owned by institutional investors and hedge funds.

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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