Cognizant Technology Solutions (NASDAQ:CTSH) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a research note released on Thursday, Benzinga reports.

Other research analysts also recently issued reports about the stock. Citigroup cut their price objective on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a buy rating for the company in a report on Monday, April 22nd. BMO Capital Markets reduced their price objective on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a market perform rating for the company in a research note on Tuesday. Mizuho began coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, January 30th. They issued a neutral rating and a $82.00 target price on the stock. Barclays reduced their price target on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an equal weight rating for the company in a research report on Friday, April 26th. Finally, Jefferies Financial Group upgraded Cognizant Technology Solutions from a hold rating to a buy rating and boosted their target price for the stock from $70.00 to $85.00 in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $75.63.

Cognizant Technology Solutions Trading Down 0.0 %

NASDAQ CTSH opened at $66.25 on Thursday. The stock has a market capitalization of $32.98 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.51 and a beta of 1.08. The business’s fifty day moving average is $72.58 and its 200-day moving average is $72.47. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.25. Cognizant Technology Solutions has a one year low of $60.26 and a one year high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The company had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same quarter last year, the business posted $1.11 EPS. Cognizant Technology Solutions’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities research analysts predict that Cognizant Technology Solutions will post 4.59 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be given a dividend of $0.30 per share. 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 28.85%.

Insider Transactions at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 8,312 shares of the company’s stock, valued at $640,522.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Institutional Trading of Cognizant Technology Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Cognizant Technology Solutions by 17.0% in the fourth 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 during the period. Norges Bank purchased a new stake in Cognizant Technology Solutions in the fourth quarter worth about $406,360,000. JPMorgan Chase & Co. lifted its holdings in shares of Cognizant Technology Solutions by 32.8% during the third 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 position in Cognizant Technology Solutions by 1,861.7% during the 4th quarter. Cibc World Markets Corp now owns 1,686,597 shares of the information technology service provider’s stock valued at $127,389,000 after buying an additional 1,600,621 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Cognizant Technology Solutions by 2,083.8% during the fourth quarter. KBC Group NV now owns 1,422,912 shares of the information technology service provider’s stock valued at $107,473,000 after acquiring an additional 1,357,755 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

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.