A number of other research firms have also recently commented on CTSH. HSBC cut Cognizant Technology Solutions from a buy rating to a hold rating and cut their target price for the stock from $72.00 to $70.00 in a research report on Tuesday, July 23rd. TheStreet upgraded Cognizant Technology Solutions from a c+ rating to a b- rating in a research report on Tuesday, July 23rd. UBS Group cut Cognizant Technology Solutions from a neutral rating to a sell rating and cut their target price for the stock from $62.00 to $60.00 in a research report on Friday, August 2nd. Zacks Investment Research cut Cognizant Technology Solutions from a buy rating to a hold rating and set a $66.00 target price on the stock. in a research report on Thursday, September 5th. Finally, Robert W. Baird set a $76.00 target price on Cognizant Technology Solutions and gave the stock a buy rating in a research report on Friday, September 6th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $74.45.
Cognizant Technology Solutions stock opened at $63.47 on Monday. The stock’s fifty day moving average is $62.47 and its two-hundred day moving average is $65.66. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 2.55. Cognizant Technology Solutions has a 1-year low of $56.73 and a 1-year high of $77.87. The stock has a market cap of $35.35 billion, a PE ratio of 16.28, a P/E/G ratio of 1.47 and a beta of 1.07.
Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. Cognizant Technology Solutions had a return on equity of 20.52% and a net margin of 12.61%. The business had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. On average, research analysts expect that Cognizant Technology Solutions will post 3.96 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 22nd were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.26%. The ex-dividend date was Wednesday, August 21st. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 19.90%.
In other Cognizant Technology Solutions news, General Counsel Matthew W. Friedrich sold 4,965 shares of Cognizant Technology Solutions stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $64.02, for a total value of $317,859.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP James Patrick Lennox sold 2,086 shares of Cognizant Technology Solutions stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $64.05, for a total value of $133,608.30. Following the completion of the sale, the executive vice president now directly owns 3,073 shares in the company, valued at approximately $196,825.65. The disclosure for this sale can be found here. Insiders sold a total of 44,048 shares of company stock worth $2,789,039 in the last 90 days. 0.56% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CTSH. Generation Investment Management LLP purchased a new stake in Cognizant Technology Solutions in the 2nd quarter valued at approximately $662,915,000. Price T Rowe Associates Inc. MD boosted its holdings in Cognizant Technology Solutions by 354.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 10,652,397 shares of the information technology service provider’s stock valued at $675,256,000 after purchasing an additional 8,307,253 shares in the last quarter. FMR LLC boosted its holdings in Cognizant Technology Solutions by 21.9% in the 1st quarter. FMR LLC now owns 15,767,608 shares of the information technology service provider’s stock valued at $1,142,362,000 after purchasing an additional 2,827,833 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Cognizant Technology Solutions by 15,091.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,298,909 shares of the information technology service provider’s stock valued at $145,727,000 after purchasing an additional 2,283,776 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in Cognizant Technology Solutions by 4.7% in the 1st quarter. BlackRock Inc. now owns 47,153,467 shares of the information technology service provider’s stock valued at $3,416,269,000 after purchasing an additional 2,129,464 shares in the last quarter. 91.45% of the stock is currently owned by institutional investors.
About Cognizant Technology Solutions
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.
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