Cognizant Technology Solutions (NASDAQ:CTSH) PT Raised to $80.00 at Barclays

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective upped by Barclays from $75.00 to $80.00 in a research note published on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the information technology service provider’s stock.

CTSH has been the topic of several other research reports. BMO Capital Markets cut their target price on Cognizant Technology Solutions from $85.00 to $77.00 and set a market perform rating on the stock in a research report on Tuesday, April 30th. Evercore ISI boosted their target price on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an in-line rating in a research report on Tuesday, March 26th. Needham & Company LLC restated a hold rating on shares of Cognizant Technology Solutions in a report on Monday, June 10th. Citigroup dropped their price objective on Cognizant Technology Solutions from $90.00 to $82.00 and set a buy rating for the company in a report on Monday, April 22nd. Finally, Mizuho restated a neutral rating and set a $82.00 price objective on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of Hold and a consensus target price of $75.75.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $73.21 on Tuesday. The company has a market cap of $36.40 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.21 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35. The stock’s 50 day simple moving average is $68.60 and its two-hundred day simple moving average is $71.88. Cognizant Technology Solutions has a 1 year low of $62.14 and a 1 year high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.01. The firm had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS. As a group, equities analysts anticipate that Cognizant Technology Solutions will post 4.61 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio is 28.85%.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several hedge funds have recently made changes to their positions in CTSH. Dynamic Advisor Solutions LLC lifted its holdings in shares of Cognizant Technology Solutions by 7.0% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 3,647 shares of the information technology service provider’s stock worth $266,000 after buying an additional 239 shares during the period. CVA Family Office LLC purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth $122,000. Pacer Advisors Inc. lifted its stake in shares of Cognizant Technology Solutions by 11.1% during the 4th quarter. Pacer Advisors Inc. now owns 59,368 shares of the information technology service provider’s stock worth $4,484,000 after purchasing an additional 5,909 shares during the last quarter. IFG Advisory LLC lifted its stake in shares of Cognizant Technology Solutions by 45.1% during the 4th quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock worth $5,070,000 after purchasing an additional 20,874 shares during the last quarter. Finally, Planned Solutions Inc. purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth $70,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.