Cognizant Technology Solutions (NASDAQ:CTSH) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a hold rating to a buy rating in a research note released on Friday.

A number of other research firms also recently issued reports on CTSH. JPMorgan Chase & Co. boosted their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a neutral rating in a report on Friday, September 6th. Robert W. Baird increased their target price on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a neutral rating in a report on Thursday, August 1st. Royal Bank of Canada increased their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a sector perform rating in a research report on Wednesday, August 28th. The Goldman Sachs Group restated a neutral rating and set a $76.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Finally, Needham & Company LLC restated a hold rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $77.44.

Cognizant Technology Solutions Stock Up 0.9 %

CTSH opened at $77.87 on Friday. Cognizant Technology Solutions has a twelve month low of $62.14 and a twelve month high of $80.27. The company has a market cap of $38.72 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $74.88 and a 200 day moving average price of $71.41.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the business earned $1.10 EPS. The firm’s quarterly revenue was down .7% on a year-over-year basis. Sell-side analysts expect that Cognizant Technology Solutions will post 4.62 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.85%.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the sale, the chief executive officer now directly owns 46,427 shares in the company, valued at $3,419,812.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by insiders.

Institutional Trading of Cognizant Technology Solutions

A number of institutional investors have recently added to or reduced their stakes in CTSH. 1620 Investment Advisors Inc. acquired a new stake in Cognizant Technology Solutions in the second quarter valued at approximately $25,000. LRI Investments LLC bought a new position in shares of Cognizant Technology Solutions in the first quarter valued at approximately $28,000. Benjamin Edwards Inc. raised its position in shares of Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 158 shares during the period. Neo Ivy Capital Management bought a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $40,000. Finally, Unique Wealth Strategies LLC bought a new position in shares of Cognizant Technology Solutions in the second quarter valued at approximately $40,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.