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

Needham & Company LLC reaffirmed their hold rating on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a research note issued to investors on Thursday, Benzinga reports.

Other analysts have also issued reports about the stock. Royal Bank of Canada raised their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Deutsche Bank Aktiengesellschaft upped their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target for the company. Finally, Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $78.37.

Cognizant Technology Solutions Stock Up 0.0 %

Shares of Cognizant Technology Solutions stock opened at $74.61 on Thursday. Cognizant Technology Solutions has a 1-year low of $62.14 and a 1-year high of $80.27. The company has a market capitalization of $36.98 billion, a P/E ratio of 16.51, a PEG ratio of 2.08 and a beta of 1.05. The business’s fifty day moving average price is $76.36 and its two-hundred day moving average price is $72.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.10. The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $1.16 earnings per share. As a group, research analysts forecast that Cognizant Technology Solutions will post 4.65 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.61%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the completion of the sale, the chief executive officer now owns 46,427 shares of the company’s stock, valued at $3,419,812.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Blair William & Co. IL grew its holdings in Cognizant Technology Solutions by 2.5% in the 1st quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock valued at $1,231,000 after buying an additional 412 shares during the last quarter. Duality Advisers LP acquired a new position in Cognizant Technology Solutions during the 1st quarter valued at $1,687,000. Norden Group LLC acquired a new stake in Cognizant Technology Solutions in the 1st quarter worth $233,000. State Board of Administration of Florida Retirement System increased its holdings in shares of Cognizant Technology Solutions by 8.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 650,385 shares of the information technology service provider’s stock worth $47,667,000 after purchasing an additional 53,061 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of Cognizant Technology Solutions by 135.4% in the first quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider’s stock valued at $2,441,000 after buying an additional 19,157 shares during the period. 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.