Cognizant Technology Solutions (NASDAQ:CTSH) Upgraded at StockNews.com

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

Several other brokerages have also issued reports on CTSH. The Goldman Sachs Group reiterated a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Robert W. Baird boosted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen boosted their target price on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $80.35.

Cognizant Technology Solutions Trading Down 0.6 %

Shares of CTSH opened at $76.41 on Tuesday. Cognizant Technology Solutions has a 1-year low of $63.79 and a 1-year high of $82.46. The firm has a market capitalization of $37.89 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 2.24 and a beta of 1.06. The firm’s 50-day moving average price is $78.89 and its 200-day moving average price is $75.77. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08.

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

Cognizant Technology Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is currently 26.55%.

Insider Buying and Selling at Cognizant Technology Solutions

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

Institutional Investors Weigh In On Cognizant Technology Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its position in Cognizant Technology Solutions by 5.0% in the third quarter. Principal Financial Group Inc. now owns 665,305 shares of the information technology service provider’s stock worth $51,348,000 after buying an additional 31,758 shares in the last quarter. Retirement Systems of Alabama increased its holdings in Cognizant Technology Solutions by 3.5% in the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock worth $91,678,000 after acquiring an additional 40,226 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Cognizant Technology Solutions during the 3rd quarter worth approximately $155,000. World Investment Advisors LLC lifted its holdings in Cognizant Technology Solutions by 21.8% during the third quarter. World Investment Advisors LLC now owns 5,634 shares of the information technology service provider’s stock valued at $435,000 after purchasing an additional 1,010 shares in the last quarter. Finally, Tudor Financial Inc. bought a new position in shares of Cognizant Technology Solutions in the third quarter worth approximately $225,000. 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.