Cognizant Technology Solutions (NASDAQ:CTSH) Upgraded by Mizuho to “Hold” Rating

Mizuho upgraded shares of Cognizant Technology Solutions (NASDAQ:CTSH) to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley decreased their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 12th. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Barclays boosted their target price on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada lifted their price target on Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Finally, UBS Group cut their price target on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a research report on Monday. Fifteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $83.71.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $77.21 on Wednesday. The stock has a 50-day simple moving average of $82.64 and a 200-day simple moving average of $79.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. The stock has a market capitalization of $38.19 billion, a PE ratio of 17.12, a PEG ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions has a 1 year low of $63.79 and a 1 year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. On average, analysts predict that Cognizant Technology Solutions will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a $0.31 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.61%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s payout ratio is presently 27.49%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System grew its holdings in Cognizant Technology Solutions by 0.8% during the fourth quarter. California State Teachers Retirement System now owns 840,827 shares of the information technology service provider’s stock worth $64,660,000 after acquiring an additional 6,554 shares during the period. 111 Capital acquired a new position in Cognizant Technology Solutions during the fourth quarter worth $1,011,000. Wealth Enhancement Advisory Services LLC grew its holdings in Cognizant Technology Solutions by 257.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 164,857 shares of the information technology service provider’s stock worth $12,678,000 after acquiring an additional 118,723 shares during the period. NorthCrest Asset Manangement LLC grew its holdings in Cognizant Technology Solutions by 3.5% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 103,765 shares of the information technology service provider’s stock worth $7,980,000 after acquiring an additional 3,484 shares during the period. Finally, Siemens Fonds Invest GmbH grew its holdings in Cognizant Technology Solutions by 37.0% during the fourth quarter. Siemens Fonds Invest GmbH now owns 22,886 shares of the information technology service provider’s stock worth $1,760,000 after acquiring an additional 6,184 shares during the period. Institutional investors and hedge funds 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.