Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Receives Consensus Recommendation of “Hold” from Analysts

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) has earned a consensus recommendation of “Hold” from the nineteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $85.1875.

CTSH has been the topic of several analyst reports. UBS Group set a $78.00 price target on shares of Cognizant Technology Solutions and gave the company a “neutral” rating in a report on Thursday, October 30th. William Blair raised shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research note on Friday, November 21st. The Goldman Sachs Group restated a “neutral” rating and set a $84.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, October 29th. Royal Bank Of Canada lowered their price objective on Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 30th. Finally, Guggenheim restated a “buy” rating and set a $85.00 target price (down previously from $90.00) on shares of Cognizant Technology Solutions in a research report on Tuesday, October 21st.

Insiders Place Their Bets

In related news, CAO John Sunshin Kim sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $75.18, for a total value of $187,950.00. Following the completion of the sale, the chief accounting officer owned 36,630 shares of the company’s stock, valued at $2,753,843.40. This trade represents a 6.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Institutional investors have recently modified their holdings of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Cognizant Technology Solutions in the 2nd quarter worth $74,917,000. Summit Global Investments increased its holdings in shares of Cognizant Technology Solutions by 245.1% in the second quarter. Summit Global Investments now owns 35,588 shares of the information technology service provider’s stock valued at $2,777,000 after purchasing an additional 25,276 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Cognizant Technology Solutions by 6.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 174,287 shares of the information technology service provider’s stock valued at $13,600,000 after acquiring an additional 11,037 shares during the last quarter. LBP AM SA purchased a new stake in shares of Cognizant Technology Solutions in the second quarter valued at about $8,541,000. Finally, Swiss National Bank increased its position in Cognizant Technology Solutions by 7.1% during the second quarter. Swiss National Bank now owns 1,497,200 shares of the information technology service provider’s stock worth $116,827,000 after purchasing an additional 98,800 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Trading Up 0.6%

NASDAQ:CTSH opened at $80.72 on Monday. The company has a market capitalization of $38.96 billion, a P/E ratio of 18.73, a P/E/G ratio of 1.65 and a beta of 0.97. The stock’s 50 day moving average price is $71.46 and its 200 day moving average price is $73.48. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.36 and a current ratio of 2.36. Cognizant Technology Solutions has a 52 week low of $65.15 and a 52 week high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.09. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the prior year, the company posted $1.25 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 7.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. On average, research analysts forecast that Cognizant Technology Solutions will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Tuesday, November 18th were paid a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.5%. Cognizant Technology Solutions’s payout ratio is currently 28.77%.

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.