Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Increased to $80.00 by Analysts at Deutsche Bank Aktiengesellschaft

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective increased by Deutsche Bank Aktiengesellschaft from $70.00 to $80.00 in a research note published on Tuesday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the information technology service provider’s stock.

Several other brokerages also recently weighed in 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 report on Thursday, September 12th. Barclays increased their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $77.58.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock opened at $75.82 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. Cognizant Technology Solutions has a fifty-two week low of $62.14 and a fifty-two week high of $80.27. The stock has a fifty day moving average of $76.49 and a two-hundred day moving average of $71.74. The company has a market capitalization of $37.70 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.16 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. The firm had revenue of $4.85 billion during 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 firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.10 EPS. On average, analysts anticipate that Cognizant Technology Solutions will post 4.62 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 annualized dividend and a dividend yield of 1.58%. Cognizant Technology Solutions’s payout ratio is currently 28.85%.

Insider Buying and Selling

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the sale, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Cognizant Technology Solutions

Hedge funds and other institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in Cognizant Technology Solutions during the 3rd quarter valued at approximately $1,972,000. Greenleaf Trust grew its position in shares of Cognizant Technology Solutions by 4.9% during the third quarter. Greenleaf Trust now owns 6,326 shares of the information technology service provider’s stock worth $488,000 after buying an additional 296 shares in the last quarter. Tempus Wealth Planning LLC increased its stake in shares of Cognizant Technology Solutions by 14.8% in the third quarter. Tempus Wealth Planning LLC now owns 5,547 shares of the information technology service provider’s stock worth $428,000 after buying an additional 716 shares during the last quarter. Stanley Laman Group Ltd. acquired a new stake in Cognizant Technology Solutions in the third quarter valued at $386,000. Finally, RBA Wealth Management LLC grew its holdings in Cognizant Technology Solutions by 3.2% during the 3rd quarter. RBA Wealth Management LLC now owns 54,997 shares of the information technology service provider’s stock worth $4,245,000 after acquiring an additional 1,717 shares in the last quarter. 92.44% of the stock is 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.