Cognizant Technology Solutions (NASDAQ:CTSH) Given New $68.00 Price Target at Citigroup

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target cut by Citigroup from $86.00 to $68.00 in a report released on Tuesday,Benzinga reports. They currently have a neutral rating on the information technology service provider’s stock.

Several other research analysts have also recently weighed in on CTSH. Mizuho set a $87.00 target price on Cognizant Technology Solutions in a report on Monday, February 9th. Royal Bank Of Canada boosted their target price on Cognizant Technology Solutions from $82.00 to $88.00 and gave the stock a “sector perform” rating in a report on Thursday, February 5th. Weiss Ratings cut Cognizant Technology Solutions from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. Berenberg Bank set a $107.00 target price on Cognizant Technology Solutions and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Susquehanna restated a “positive” rating and set a $98.00 target price on shares of Cognizant Technology Solutions in a report on Friday, January 23rd. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus price target of $87.78.

Cognizant Technology Solutions Trading Down 1.4%

Shares of Cognizant Technology Solutions stock opened at $61.49 on Tuesday. The stock has a market cap of $29.41 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.36 and a beta of 0.98. The stock’s 50 day simple moving average is $66.15 and its 200-day simple moving average is $72.76. Cognizant Technology Solutions has a 1-year low of $58.83 and a 1-year high of $87.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.14 and a quick ratio of 2.14.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 4th. The information technology service provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.03. The business had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.31 billion. Cognizant Technology Solutions had a return on equity of 17.17% and a net margin of 10.56%.The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 EPS. Cognizant Technology Solutions has set its FY 2026 guidance at 5.560-5.700 EPS. Analysts predict that Cognizant Technology Solutions will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Investors of record on Wednesday, February 18th were issued a $0.33 dividend. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Wednesday, February 18th. Cognizant Technology Solutions’s payout ratio is currently 29.01%.

Insider Buying and Selling

In other Cognizant Technology Solutions news, insider Surya Gummadi sold 1,728 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $83.06, for a total transaction of $143,527.68. Following the transaction, the insider directly owned 25,641 shares in the company, valued at $2,129,741.46. This represents a 6.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Cognizant Technology Solutions by 0.8% during the third quarter. Vanguard Group Inc. now owns 60,348,442 shares of the information technology service provider’s stock worth $4,047,570,000 after purchasing an additional 493,912 shares in the last quarter. State Street Corp lifted its stake in Cognizant Technology Solutions by 0.6% during the second quarter. State Street Corp now owns 25,381,572 shares of the information technology service provider’s stock worth $1,980,524,000 after purchasing an additional 157,427 shares in the last quarter. Pzena Investment Management LLC lifted its stake in Cognizant Technology Solutions by 1.5% during the third quarter. Pzena Investment Management LLC now owns 17,710,868 shares of the information technology service provider’s stock worth $1,187,868,000 after purchasing an additional 260,177 shares in the last quarter. Invesco Ltd. lifted its stake in Cognizant Technology Solutions by 8.6% during the third quarter. Invesco Ltd. now owns 12,534,198 shares of the information technology service provider’s stock worth $840,669,000 after purchasing an additional 987,395 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in Cognizant Technology Solutions by 7.6% during the third quarter. First Trust Advisors LP now owns 9,085,998 shares of the information technology service provider’s stock worth $609,398,000 after purchasing an additional 639,801 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

About Cognizant Technology Solutions

Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.