Cognizant Technology Solutions Co. (NASDAQ:CTSH) Receives Consensus Rating of “Hold” from Analysts

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) have been given a consensus recommendation of “Hold” by the eighteen research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $75.44.

A number of equities research analysts have commented on CTSH shares. Citigroup decreased their price objective on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Guggenheim began coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, March 19th. They set a “neutral” rating and a $80.00 target price for the company. Evercore ISI boosted their price target on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Susquehanna cut their price objective on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Finally, BMO Capital Markets lowered their target price on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 30th.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $68.00 on Monday. The firm has a 50-day moving average of $67.13 and a two-hundred day moving average of $72.34. The company has a market capitalization of $33.81 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 2.03 and a beta of 1.04. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions has a twelve month low of $62.14 and a twelve month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.01. The business had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company posted $1.11 EPS. As a group, analysts expect that Cognizant Technology Solutions will post 4.61 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date was Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Dark Forest Capital Management LP acquired a new stake in shares of Cognizant Technology Solutions in the third quarter valued at approximately $216,000. LPL Financial LLC raised its stake in Cognizant Technology Solutions by 14.9% in the 3rd quarter. LPL Financial LLC now owns 126,168 shares of the information technology service provider’s stock valued at $8,547,000 after acquiring an additional 16,400 shares during the period. Teza Capital Management LLC acquired a new stake in Cognizant Technology Solutions during the 3rd quarter valued at $356,000. Gotham Asset Management LLC boosted its position in Cognizant Technology Solutions by 3.1% during the third quarter. Gotham Asset Management LLC now owns 6,598 shares of the information technology service provider’s stock worth $447,000 after purchasing an additional 197 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in shares of Cognizant Technology Solutions by 39.7% in the third quarter. Jones Financial Companies Lllp now owns 898 shares of the information technology service provider’s stock valued at $61,000 after purchasing an additional 255 shares during the last quarter. 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.