Cognizant Technology Solutions (NASDAQ:CTSH) Rating Reiterated by The Goldman Sachs Group

The Goldman Sachs Group reaffirmed their neutral rating on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $76.00 price target on the information technology service provider’s stock.

CTSH has been the topic of several other reports. JPMorgan Chase & Co. upped their price objective on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a neutral rating in a report on Friday, September 6th. Bank of America upgraded shares of Cognizant Technology Solutions from an underperform rating to a neutral rating and boosted their target price for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. Barclays boosted their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an equal weight rating in a research note on Tuesday, July 23rd. Needham & Company LLC reiterated a hold rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. Finally, StockNews.com cut shares of Cognizant Technology Solutions from a buy rating to a hold rating in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of Hold and a consensus target price of $77.44.

Cognizant Technology Solutions Stock Up 1.2 %

NASDAQ:CTSH opened at $77.21 on Thursday. The company’s 50 day moving average is $74.67 and its two-hundred day moving average is $71.42. The company has a market cap of $38.39 billion, a PE ratio of 18.56, a P/E/G ratio of 2.14 and a beta of 1.05. The company has a current ratio of 2.46, a quick ratio of 2.46 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 $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 EPS. Analysts anticipate that Cognizant Technology Solutions will post 4.62 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Insider Activity at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the sale, the chief executive officer now owns 46,427 shares of the company’s stock, valued at $3,419,812.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. 1620 Investment Advisors Inc. acquired a new stake in Cognizant Technology Solutions in the second quarter valued at approximately $25,000. LRI Investments LLC acquired a new stake in Cognizant Technology Solutions in the first quarter valued at approximately $28,000. Benjamin Edwards Inc. raised 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 in the last quarter. Neo Ivy Capital Management acquired a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $40,000. Finally, Unique Wealth Strategies LLC acquired a new stake in Cognizant Technology Solutions in the second quarter valued at approximately $40,000. Hedge funds and other 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.