Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Raised to $84.00 at Mizuho

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price raised by Mizuho from $83.00 to $84.00 in a research report report published on Friday morning, Benzinga reports. Mizuho currently has a neutral rating on the information technology service provider’s stock.

A number of other equities research analysts have also recently commented on the company. Barclays increased their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. TD Cowen lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Finally, Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $78.37.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH opened at $74.90 on Friday. The company has a current ratio of 2.23, a quick ratio of 2.46 and a debt-to-equity ratio of 0.08. The company has a market cap of $37.12 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 2.08 and a beta of 1.05. Cognizant Technology Solutions has a 12 month low of $63.79 and a 12 month high of $80.27. The company has a 50-day moving average price of $76.32 and a 200-day moving average price of $72.10.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the business posted $1.16 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that Cognizant Technology Solutions will post 4.65 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is currently 26.55%.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several hedge funds have recently added to or reduced their stakes in CTSH. Versor Investments LP bought a new position in shares of Cognizant Technology Solutions during the third quarter valued at approximately $334,000. Delta Financial Advisors LLC boosted its holdings in Cognizant Technology Solutions by 11.5% during the 3rd quarter. Delta Financial Advisors LLC now owns 21,711 shares of the information technology service provider’s stock valued at $1,676,000 after acquiring an additional 2,246 shares during the period. Addison Advisors LLC grew its position in Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after acquiring an additional 189 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Cognizant Technology Solutions in the third quarter worth $30,000. Finally, Assetmark Inc. lifted its position in shares of Cognizant Technology Solutions by 2.3% during the third quarter. Assetmark Inc. now owns 573,922 shares of the information technology service provider’s stock worth $44,295,000 after purchasing an additional 12,701 shares during the last quarter. 92.44% of the stock is currently owned by 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.