Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Lowered to $78.00 at Susquehanna

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target cut by Susquehanna from $80.00 to $78.00 in a research note released on Thursday, Benzinga reports. They currently have a neutral rating on the information technology service provider’s stock.

A number of other research analysts have also weighed in on CTSH. Societe Generale reaffirmed a sell rating and set a $67.00 target price on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Guggenheim initiated coverage on shares of 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. Royal Bank of Canada boosted their price target on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a sector perform rating in a research report on Wednesday, February 7th. Barclays dropped their price objective on Cognizant Technology Solutions from $80.00 to $75.00 and set an equal weight rating for the company in a research note on Friday, April 26th. Finally, Evercore ISI raised their price target on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an in-line rating in a report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $75.67.

Cognizant Technology Solutions Trading Down 0.0 %

Shares of CTSH stock opened at $66.25 on Thursday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average of $72.31 and a 200-day moving average of $72.55. Cognizant Technology Solutions has a 12-month low of $60.26 and a 12-month high of $80.09. The firm has a market cap of $32.98 billion, a P/E ratio of 15.93, a PEG ratio of 1.51 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.01. The company had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.11 EPS. Sell-side analysts anticipate that Cognizant Technology Solutions will post 4.6 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Monday, May 20th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Friday, May 17th. Cognizant Technology Solutions’s payout ratio is currently 28.85%.

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 stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the transaction, the executive vice president now owns 8,312 shares in the company, valued at approximately $640,522.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTSH. Vanguard Group Inc. boosted its stake in Cognizant Technology Solutions by 17.0% in the 4th quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after purchasing an additional 7,445,089 shares in the last quarter. Norges Bank bought a new position in Cognizant Technology Solutions in the 4th quarter valued at approximately $406,360,000. JPMorgan Chase & Co. boosted its stake in Cognizant Technology Solutions by 32.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock valued at $1,196,547,000 after purchasing an additional 4,365,493 shares during the last quarter. Cibc World Markets Corp increased its holdings in shares of Cognizant Technology Solutions by 1,861.7% in the 4th quarter. Cibc World Markets Corp now owns 1,686,597 shares of the information technology service provider’s stock worth $127,389,000 after purchasing an additional 1,600,621 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of Cognizant Technology Solutions by 2,083.8% in the fourth quarter. KBC Group NV now owns 1,422,912 shares of the information technology service provider’s stock worth $107,473,000 after purchasing an additional 1,357,755 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

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.