Cognizant Technology Solutions (NASDAQ:CTSH) Given New $76.00 Price Target at Robert W. Baird

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) had its target price lowered by Robert W. Baird from $78.00 to $76.00 in a research note published on Thursday morning, The Fly reports. The firm currently has an outperform rating on the information technology service provider’s stock.

Other equities research analysts have also issued reports about the stock. Morgan Stanley reduced their target price on shares of Cognizant Technology Solutions from $75.00 to $65.00 and set an equal weight rating for the company in a report on Thursday, July 28th. Cowen lowered shares of Cognizant Technology Solutions to a market perform rating and reduced their target price for the stock from $86.00 to $75.00 in a report on Thursday, July 28th. Cowen reissued a downgrade rating on shares of Cognizant Technology Solutions in a report on Thursday, July 28th. JPMorgan Chase & Co. lowered shares of Cognizant Technology Solutions from an overweight rating to a neutral rating and cut their price objective for the company from $82.00 to $77.00 in a report on Thursday, July 28th. Finally, Susquehanna cut their price objective on shares of Cognizant Technology Solutions from $100.00 to $98.00 in a report on Thursday, July 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $83.13.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $59.80 on Thursday. The firm’s 50 day moving average price is $66.09 and its 200-day moving average price is $74.00. Cognizant Technology Solutions has a twelve month low of $59.63 and a twelve month high of $93.47. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $30.96 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.24 and a beta of 1.06.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last released its earnings results on Wednesday, July 27th. The information technology service provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.05. The company had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. Cognizant Technology Solutions had a net margin of 11.74% and a return on equity of 19.36%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 EPS. Equities research analysts expect that Cognizant Technology Solutions will post 4.55 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 30th. Stockholders of record on Friday, August 19th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.81%. Cognizant Technology Solutions’s dividend payout ratio is currently 25.06%.

Insider Activity

In related news, Director Zein Abdalla sold 4,368 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $65.44, for a total value of $285,841.92. Following the completion of the sale, the director now directly owns 13,556 shares in the company, valued at $887,104.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Cognizant Technology Solutions

Institutional investors have recently bought and sold shares of the stock. Park Avenue Securities LLC lifted its position in Cognizant Technology Solutions by 29.4% in the first quarter. Park Avenue Securities LLC now owns 6,911 shares of the information technology service provider’s stock worth $620,000 after buying an additional 1,572 shares during the last quarter. JJJ Advisors Inc. lifted its position in shares of Cognizant Technology Solutions by 7.2% during the first quarter. JJJ Advisors Inc. now owns 3,783 shares of the information technology service provider’s stock worth $340,000 after purchasing an additional 254 shares during the last quarter. Ascent Group LLC bought a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth $600,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Cognizant Technology Solutions by 8.3% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 297,136 shares of the information technology service provider’s stock worth $26,644,000 after purchasing an additional 22,738 shares during the last quarter. Finally, Clark Capital Management Group Inc. bought a new stake in shares of Cognizant Technology Solutions during the first quarter worth $24,202,000. 90.67% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Company Profile

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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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Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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