Cognizant Technology Solutions (NASDAQ:CTSH) Given New $94.00 Price Target at BMO Capital Markets

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price hoisted by BMO Capital Markets from $88.00 to $94.00 in a research note published on Thursday,Benzinga reports. They currently have a market perform rating on the information technology service provider’s stock.

Other equities analysts also recently issued reports about the stock. TD Cowen raised their target price 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. Robert W. Baird raised their price objective on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. UBS Group upped their target price on Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft raised their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Sixteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus price target of $83.22.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $87.09 on Thursday. The firm has a 50 day moving average of $79.31 and a 200-day moving average of $77.45. The company has a market cap of $43.18 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 2.21 and a beta of 1.07. 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 has a 12-month low of $63.79 and a 12-month high of $87.61.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. As a group, equities analysts expect that Cognizant Technology Solutions will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.42%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Tuesday, February 18th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 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 business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the transaction, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. The trade was a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several hedge funds have recently modified their holdings of CTSH. Assenagon Asset Management S.A. grew its position in Cognizant Technology Solutions by 276.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock valued at $122,603,000 after acquiring an additional 1,167,033 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Cognizant Technology Solutions by 146.9% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider’s stock valued at $126,940,000 after purchasing an additional 978,579 shares during the period. ING Groep NV grew its holdings in Cognizant Technology Solutions by 61.5% during the 3rd quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider’s stock valued at $191,280,000 after purchasing an additional 943,372 shares in the last quarter. State Street Corp increased its stake in Cognizant Technology Solutions by 3.6% during the 3rd quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock worth $1,928,405,000 after buying an additional 867,176 shares during the period. Finally, Mizuho Markets Americas LLC acquired a new position in Cognizant Technology Solutions in the 3rd quarter worth $61,744,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.