Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Cut to $75.00 by Analysts at Barclays

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target reduced by Barclays from $80.00 to $75.00 in a report issued on Friday, Benzinga reports. They currently have an equal weight rating on the information technology service provider’s stock.

A number of other research firms have also weighed in on CTSH. Evercore ISI lifted their price objective on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an in-line rating in a research note on Tuesday, March 26th. Wolfe Research raised Cognizant Technology Solutions from an underperform rating to a peer perform rating in a report on Thursday, January 4th. Mizuho started coverage on shares of Cognizant Technology Solutions in a report on Tuesday, January 30th. They issued a neutral rating and a $82.00 price target on the stock. Societe Generale reaffirmed a sell rating and set a $67.00 price objective on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. Finally, Guggenheim assumed coverage on Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a neutral rating and a $80.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $76.13.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $66.53 on Friday. The company has a market capitalization of $33.12 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.53 and a beta of 1.06. The business has a fifty day simple moving average of $73.31 and a two-hundred day simple moving average of $72.56. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25. Cognizant Technology Solutions has a 1 year low of $58.47 and a 1 year high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.14. The company had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 EPS. On average, analysts expect that Cognizant Technology Solutions will post 4.59 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.80%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 16th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 28.57%.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now owns 8,312 shares in the company, valued at $640,522.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Hedge funds and other institutional investors have recently modified their holdings of the company. IFG Advisory LLC raised its position in Cognizant Technology Solutions by 45.1% during the 4th quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock valued at $5,070,000 after purchasing an additional 20,874 shares during the last quarter. Qube Research & Technologies Ltd increased its position in shares of Cognizant Technology Solutions by 36.0% during the third quarter. Qube Research & Technologies Ltd now owns 1,227,411 shares of the information technology service provider’s stock valued at $83,145,000 after buying an additional 324,638 shares during the period. PGGM Investments raised its stake in Cognizant Technology Solutions by 53.8% in the third quarter. PGGM Investments now owns 74,411 shares of the information technology service provider’s stock worth $5,041,000 after buying an additional 26,035 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Cognizant Technology Solutions by 110.2% in the third quarter. Assenagon Asset Management S.A. now owns 1,344,587 shares of the information technology service provider’s stock worth $91,082,000 after buying an additional 704,932 shares during the period. Finally, Perigon Wealth Management LLC boosted its position in Cognizant Technology Solutions by 4.4% during the 4th quarter. Perigon Wealth Management LLC now owns 4,743 shares of the information technology service provider’s stock valued at $358,000 after acquiring an additional 199 shares in the last quarter. 92.44% of the stock is owned by 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.