Cognizant Technology Solutions Co. (NASDAQ:CTSH) Given Average Rating of “Hold” by Brokerages

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) have earned an average recommendation of “Hold” from the twenty-one ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $77.44.

CTSH has been the topic of several research reports. The Goldman Sachs Group restated a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Barclays boosted their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and increased their price target for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. Mizuho reissued a “neutral” rating and set a $82.00 price objective on shares of Cognizant Technology Solutions in a research note on Tuesday, June 11th. Finally, Royal Bank of Canada raised their price objective on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th.

Cognizant Technology Solutions Stock Up 0.6 %

CTSH opened at $75.64 on Friday. The company has a market capitalization of $37.61 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. The firm has a 50-day simple moving average of $75.40 and a two-hundred day simple moving average of $71.43. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions has a 52 week low of $62.14 and a 52 week high of $80.27.

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

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were paid a $0.30 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 annualized dividend and a yield of 1.59%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.85%.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cognizant Technology Solutions

Large investors have recently bought and sold shares of the business. 1620 Investment Advisors Inc. bought a new stake in Cognizant Technology Solutions during the 2nd quarter valued at $25,000. LRI Investments LLC purchased a new position in Cognizant Technology Solutions in the first quarter valued at about $28,000. Benjamin Edwards Inc. raised its holdings in 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 worth $36,000 after purchasing an additional 158 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $40,000. Finally, Unique Wealth Strategies LLC purchased a new position in shares of Cognizant Technology Solutions in the 2nd quarter worth approximately $40,000. Institutional investors own 92.44% of the company’s stock.

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.