Cognizant Technology Solutions (NASDAQ:CTSH) Stock Passes Above 200-Day Moving Average – What’s Next?

Cognizant Technology Solutions Co. (NASDAQ:CTSH)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $75.67 and traded as high as $78.60. Cognizant Technology Solutions shares last traded at $76.75, with a volume of 3,208,941 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. TD Cowen boosted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. The Goldman Sachs Group restated a “neutral” rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Cognizant Technology Solutions has an average rating of “Hold” and a consensus target price of $80.35.

Cognizant Technology Solutions Stock Performance

The firm has a 50-day moving average of $78.83 and a two-hundred day moving average of $75.67. The company has a market capitalization of $38.05 billion, a PE ratio of 16.98, a PEG ratio of 2.24 and a beta of 1.06. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. Cognizant Technology Solutions’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.16 earnings per share. Research analysts anticipate that Cognizant Technology Solutions Co. will post 4.66 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.56%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is 26.55%.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the transaction, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several hedge funds and other institutional investors have recently modified their holdings of CTSH. Addison Advisors LLC raised its holdings in Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after acquiring an additional 189 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Cognizant Technology Solutions in the third quarter valued at approximately $30,000. Pinnacle Bancorp Inc. increased its holdings in shares of Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after purchasing an additional 146 shares during the last quarter. Eastern Bank purchased a new position in Cognizant Technology Solutions during the third quarter worth approximately $37,000. Finally, Benjamin Edwards Inc. increased its stake in shares of Cognizant Technology Solutions by 42.1% in 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. 92.44% of the stock is owned by hedge funds and other institutional investors.

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.