JPMorgan Chase & Co. Cuts Cognizant Technology Solutions (NASDAQ:CTSH) Price Target to $93.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price trimmed by JPMorgan Chase & Co. from $98.00 to $93.00 in a research report released on Monday,Benzinga reports. The firm currently has an overweight rating on the information technology service provider’s stock.

A number of other research analysts have also weighed in on the company. Evercore ISI assumed coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They issued an “outperform” rating and a $100.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Cognizant Technology Solutions in a report on Thursday, July 17th. They set a “hold” rating and a $80.00 target price on the stock. Susquehanna raised Cognizant Technology Solutions from a “neutral” rating to a “positive” rating and raised their price objective for the company from $77.00 to $90.00 in a report on Thursday, May 1st. TD Securities raised their price objective on Cognizant Technology Solutions from $77.00 to $79.00 and gave the company a “hold” rating in a report on Thursday, May 1st. Finally, Barclays dropped their price objective on Cognizant Technology Solutions from $103.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $85.88.

Cognizant Technology Solutions Trading Down 1.8%

Shares of NASDAQ CTSH opened at $73.53 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.22. The stock has a market capitalization of $36.25 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 1.74 and a beta of 0.96. Cognizant Technology Solutions has a 1-year low of $65.52 and a 1-year high of $90.82. The business has a fifty day moving average price of $78.27 and a 200 day moving average price of $78.68.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 30th. The information technology service provider reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.05. Cognizant Technology Solutions had a return on equity of 16.73% and a net margin of 11.73%. The company had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.17 billion. During the same period in the prior year, the company posted $1.17 EPS. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts expect that Cognizant Technology Solutions will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 26th. Investors of record on Monday, August 18th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.69%. Cognizant Technology Solutions’s dividend payout ratio is currently 26.11%.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of large investors have recently bought and sold shares of the stock. Hilltop National Bank purchased a new position in shares of Cognizant Technology Solutions in the 2nd quarter worth $27,000. Park Square Financial Group LLC purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter worth $36,000. Geneos Wealth Management Inc. raised its position in shares of Cognizant Technology Solutions by 118.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock worth $44,000 after buying an additional 309 shares during the period. CoreCap Advisors LLC raised its position in shares of Cognizant Technology Solutions by 21.5% in the 4th quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider’s stock worth $55,000 after buying an additional 126 shares during the period. Finally, Pinney & Scofield Inc. purchased a new position in Cognizant Technology Solutions in the fourth quarter valued at about $55,000. Institutional investors and hedge funds 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.