Cognizant Technology Solutions (NASDAQ:CTSH) Sets New 52-Week High – What’s Next?

Cognizant Technology Solutions Co. (NASDAQ:CTSH)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $82.46 and last traded at $82.08, with a volume of 462972 shares changing hands. The stock had previously closed at $80.70.

Analyst Upgrades and Downgrades

CTSH has been the topic of a number of recent analyst reports. TD Cowen boosted their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Barclays upgraded shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $80.00 to $95.00 in a research note on Tuesday. Royal Bank of Canada raised 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 note on Wednesday, August 28th. The Goldman Sachs Group reissued a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Finally, StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $80.35.

Cognizant Technology Solutions Price Performance

The business’s 50 day moving average is $78.47 and its 200-day moving average is $74.87. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $38.80 billion, a P/E ratio of 17.31, a PEG ratio of 2.24 and a beta of 1.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis. As a group, sell-side analysts predict that Cognizant Technology Solutions Co. will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were given a $0.30 dividend. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.53%. Cognizant Technology Solutions’s dividend payout ratio is currently 26.55%.

Insider Transactions at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now directly owns 39,022 shares in the company, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Cognizant Technology Solutions

Institutional investors have recently modified their holdings of the business. Pinnacle Bancorp Inc. raised its position in Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares during the last quarter. Benjamin Edwards Inc. boosted 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 valued at $36,000 after acquiring an additional 158 shares during the last quarter. Addison Advisors LLC increased its position in Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after purchasing an additional 189 shares during the period. Meeder Asset Management Inc. raised its holdings in Cognizant Technology Solutions by 32.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 786 shares of the information technology service provider’s stock worth $61,000 after purchasing an additional 193 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its position in shares of Cognizant Technology Solutions by 1.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock worth $862,000 after purchasing an additional 194 shares during the period. Institutional investors own 92.44% of the company’s stock.

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.