Cognizant Technology Solutions (NASDAQ:CTSH) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a report issued on Thursday morning, Benzinga reports.

Several other analysts also recently weighed in on the stock. Royal Bank of Canada boosted their target price on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a sector perform rating in a research report on Wednesday, February 7th. Citigroup dropped their price objective on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a buy rating on the stock in a report on Monday, April 22nd. BMO Capital Markets reduced their target price on Cognizant Technology Solutions from $85.00 to $77.00 and set a market perform rating for the company in a research note on Tuesday, April 30th. Mizuho started coverage on Cognizant Technology Solutions in a research note on Tuesday, January 30th. They set a neutral rating and a $82.00 price target on the stock. Finally, Wolfe Research upgraded Cognizant Technology Solutions from an underperform rating to a peer perform rating in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $75.67.

Cognizant Technology Solutions Stock Down 0.0 %

Cognizant Technology Solutions stock opened at $66.25 on Thursday. Cognizant Technology Solutions has a 1-year low of $60.26 and a 1-year high of $80.09. The business has a fifty day moving average price of $72.31 and a 200-day moving average price of $72.55. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.25. The stock has a market capitalization of $32.98 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.51 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The company had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.72 billion. During the same period last year, the business posted $1.11 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts forecast that Cognizant Technology Solutions will post 4.6 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Monday, May 20th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.85%.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the transaction, the executive vice president now owns 8,312 shares in the company, valued at $640,522.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cognizant Technology Solutions

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Cognizant Technology Solutions by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock valued at $3,860,483,000 after purchasing an additional 7,445,089 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Cognizant Technology Solutions by 32.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock valued at $1,196,547,000 after buying an additional 4,365,493 shares in the last quarter. Boston Partners grew its stake in Cognizant Technology Solutions by 3.0% in the 3rd quarter. Boston Partners now owns 8,056,248 shares of the information technology service provider’s stock valued at $544,942,000 after acquiring an additional 231,782 shares during the period. Northern Trust Corp increased its holdings in Cognizant Technology Solutions by 5.0% in the 3rd quarter. Northern Trust Corp now owns 6,177,547 shares of the information technology service provider’s stock worth $418,467,000 after acquiring an additional 294,415 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Cognizant Technology Solutions by 4.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,433,474 shares of the information technology service provider’s stock worth $410,406,000 after acquiring an additional 238,551 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

About Cognizant Technology Solutions

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.