Cognizant Technology Solutions (NASDAQ:CTSH) PT Lowered to $82.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price lowered by Citigroup from $90.00 to $82.00 in a report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the information technology service provider’s stock.

CTSH has been the topic of a number of other research reports. BMO Capital Markets lowered their price objective on Cognizant Technology Solutions from $88.00 to $85.00 and set a market perform rating on the stock in a research note on Wednesday, February 7th. Susquehanna reissued a neutral rating and set a $80.00 price target (down previously from $87.00) on shares of Cognizant Technology Solutions in a research report on Monday, April 1st. Societe Generale restated a sell rating and set a $67.00 price objective on shares of Cognizant Technology Solutions in a research report on Friday, January 5th. Wolfe Research upgraded shares of Cognizant Technology Solutions from an underperform rating to a peer perform rating in a report on Thursday, January 4th. Finally, Guggenheim began coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a neutral rating and a $80.00 price target for the company. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $76.44.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $68.20 on Monday. The company has a fifty day simple moving average of $74.28 and a 200-day simple moving average of $72.58. The firm has a market capitalization of $33.95 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 1.54 and a beta of 1.06. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions has a 52-week low of $58.09 and a 52-week high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same period in the previous year, the business posted $1.01 earnings per share. Cognizant Technology Solutions’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities analysts anticipate that Cognizant Technology Solutions will post 4.59 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were issued a dividend of $0.30 per share. 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 1.76%. Cognizant Technology Solutions’s dividend payout ratio is 28.57%.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the sale, the executive vice president now directly owns 8,312 shares in the company, valued at $640,522.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in CTSH. Turtle Creek Wealth Advisors LLC purchased a new position in Cognizant Technology Solutions in the fourth quarter worth approximately $26,000. NBC Securities Inc. purchased a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth $27,000. Spire Wealth Management lifted its position in shares of Cognizant Technology Solutions by 79.1% during the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 193 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Cognizant Technology Solutions in the fourth quarter valued at $40,000. Finally, Quarry LP purchased a new position in Cognizant Technology Solutions in the fourth quarter valued at $43,000. 92.44% of the stock is owned by institutional investors and hedge funds.

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.