Cognizant Technology Solutions Co. (NASDAQ:CTSH) Given Average Recommendation of “Hold” by Brokerages

Cognizant Technology Solutions Co. (NASDAQ:CTSH) has earned a consensus rating of “Hold” from the twenty brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, sixteen have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $79.47.

CTSH has been the subject of several research analyst reports. Mizuho boosted their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Robert W. Baird boosted their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. TD Cowen boosted their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $73.00 to $75.00 in a research report on Wednesday, August 7th.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $80.75 on Thursday. The firm has a market capitalization of $40.04 billion, a P/E ratio of 17.87, a PEG ratio of 2.22 and a beta of 1.05. Cognizant Technology Solutions has a 1 year low of $63.79 and a 1 year high of $82.41. The business has a 50-day moving average of $77.24 and a 200-day moving average of $73.56. 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 (NASDAQ:CTSH) last posted its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.10. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.16 EPS. On average, equities analysts anticipate that Cognizant Technology Solutions will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Tuesday, November 19th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s dividend payout ratio is currently 26.55%.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in CTSH. Pinnacle Bancorp Inc. increased its holdings in shares of Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after acquiring an additional 146 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after acquiring an additional 158 shares during the last quarter. Addison Advisors LLC increased its holdings in shares of Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after acquiring an additional 189 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Cognizant Technology Solutions by 32.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 786 shares of the information technology service provider’s stock worth $61,000 after acquiring an additional 193 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in shares of Cognizant Technology Solutions by 1.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock worth $862,000 after acquiring an additional 194 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

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.