Cognizant Technology Solutions Co. (NASDAQ:CTSH) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) have received a consensus rating of “Hold” from the eighteen brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $75.65.

Several research firms recently commented on CTSH. Barclays increased their price target on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, January 23rd. Guggenheim began coverage on Cognizant Technology Solutions in a report on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price target for the company. Susquehanna reaffirmed a “neutral” rating and issued a $80.00 price target (down previously from $87.00) on shares of Cognizant Technology Solutions in a report on Monday, April 1st. Royal Bank of Canada increased their price target on Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a report on Wednesday, February 7th. Finally, BMO Capital Markets cut their target price on Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating for the company in a research note on Wednesday, February 7th.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $67.93 on Wednesday. The company has a market cap of $33.82 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.58 and a beta of 1.06. The stock’s 50 day simple moving average is $75.07 and its 200-day simple moving average is $72.58. Cognizant Technology Solutions has a 1-year low of $58.09 and a 1-year high of $80.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.14. The business had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 earnings per share. As a group, equities research analysts anticipate that Cognizant Technology Solutions will post 4.6 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were issued a $0.30 dividend. The ex-dividend date was Friday, February 16th. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a yield of 1.77%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.57%.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of the sale, the executive vice president now directly owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is currently owned by company insiders.

Institutional Trading of Cognizant Technology Solutions

Several institutional investors and hedge funds have recently made changes to their positions in CTSH. D.A. Davidson & CO. purchased a new stake in shares of Cognizant Technology Solutions in the 1st quarter valued at about $256,000. Canada Pension Plan Investment Board increased its position in Cognizant Technology Solutions by 84.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 269,207 shares of the information technology service provider’s stock valued at $24,140,000 after acquiring an additional 123,220 shares during the period. Cetera Investment Advisers increased its position in Cognizant Technology Solutions by 9.4% in the 1st quarter. Cetera Investment Advisers now owns 17,774 shares of the information technology service provider’s stock valued at $1,594,000 after acquiring an additional 1,523 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Cognizant Technology Solutions in the 1st quarter valued at about $239,000. Finally, Brighton Jones LLC increased its position in Cognizant Technology Solutions by 18.7% in the 1st quarter. Brighton Jones LLC now owns 3,484 shares of the information technology service provider’s stock valued at $312,000 after acquiring an additional 550 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Company Profile

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.