The shares of Cognizant Technology Solutions Co. (NASDAQ: CTSH – Get Rating) won a consensus “Buy” recommendation from the seventeen rating companies that cover the company, according to MarketBeat Ratings. One analyst rated the shares with a sell rating, three gave a hold rating and nine gave a buy rating to the company. The average target price for 12 months among analysts who have covered the shares in the last year is $ 92.53.
Several research firms recently weighed in on the CTSH. Cowen lowered his price target for Cognizant Technology Solutions from $ 98.00 to $ 95.00 in a study note on Monday, May 9. Citigroup lowered its price target for Cognizant Technology Solutions from $ 95.00 to $ 88.00 in a study note on Thursday, May 5th. Cowen reduced its target price for Cognizant Technology Solutions from $ 98.00 to $ 95.00 in a research report Monday, May 9th. Finally, StockNews.com downgraded Cognizant Technology Solutions from a “strong buy” rating to a “buy” rating in a research report Wednesday, May 11th.
CTSH opened at $ 69.91 on Friday. The business’s 50-day moving average is $ 78.62, and its 200-day moving average is $ 83.77. The company has a market capitalization of $ 36.43 billion, a P / E ratio of $ 16.76, a price-to-profit ratio of $ 1.31 and a beta ratio of 1.10. The company has a debt to equity ratio of 0.05, a fast ratio of 2.22 and a current ratio of 2.22. Cognizant Technology Solutions has a 52-week low of $ 66.19 and a 52-week high of $ 93.47.
Cognizant Technology Solutions (NASDAQ: CTSH – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The IT provider reported earnings of $ 1.08 per share for the quarter, beating the consensus estimate of $ 1.04 by $ 0.04. The business had revenue of $ 4.83 billion for the quarter, compared to analysts’ estimates of $ 4.83 billion. Cognizant Technology Solutions has a return on equity of 19.07% and a net profit of 11.59%. Revenues of Cognizant Technology Solutions increased by 9.7% compared to the same quarter last year. In the same period last year, the company reported $ 0.97 earnings per share. On average, research analysts predict that Cognizant Technology Solutions will report 4.51 earnings per share for the current fiscal year.
The business also recently unveiled a three-month dividend that was paid on Tuesday (May 31st). The record shareholders on Friday, May 20, received a dividend of $ 0.27 per share. The date of the former dividend was Thursday, May 19. This represents a $ 1.08 dividend on an annual basis and a dividend yield of 1.54%. The dividend payout ratio (DPR) of Cognizant Technology Solutions is 25.90%.
In other news about Cognizant Technology Solutions, EVP Andrew J. Stafford sold 5,867 shares of Cognizant Technology Solutions in a deal on Tuesday, May 10. The shares were sold at an average price of $ 77.24, for a total value of $ 453,167.08. Following the sale, the executive vice president now directly owns 5,872 shares of the company worth $ 453,553.28. The sale is disclosed in SEC documentation, which is available on the SEC website. Also, CEO Michael Patzalos-Fox sold 5,687 shares of Cognizant Technology Solutions in a deal on Tuesday, May 17th. The shares were sold at an average price of $ 74.40, for a total value of $ 423,112.80. Following the sale, the director now owns 57,534 shares of the company’s stock worth $ 4,280,529.60. The revelation for this sale can be found here. 0.34% of the shares are owned by insiders of the company.
Hedge funds have recently changed their holdings in business. Norges Bank bought a new position in shares of Cognizant Technology Solutions in the fourth quarter worth approximately $ 465,540,000. Wellington Management Group LLP increased its stake in Cognizant Technology Solutions by 40.6% in the first quarter. Wellington Management Group LLP now owns 12,251,722 shares of the IT provider’s stock worth $ 1,098,612,000 after buying an additional 3,537,761 shares in the last quarter. First Trust Advisors LP increased its stake in Cognizant Technology Solutions by 50.0% in the fourth quarter. First Trust Advisors LP already owns 5,934,516 shares of the IT provider worth $ 526,510,000 after buying an additional 1,979,276 shares in the last quarter. Boston Partners increased its position in shares of Cognizant Technology Solutions by 26.6% in the fourth quarter. Boston Partners now owns 6,685,153 shares of the IT provider worth $ 593,070,000 after buying an additional 1,405,697 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Cognizant Technology Solutions by 7.2% in the fourth quarter. Invesco Ltd. now owns 17,072,441 shares of the IT provider’s stock worth $ 1,514,667,000 after buying an additional 1,139,513 shares in the last quarter. Institutional investors and hedge funds own 90.73% of the company’s shares.
About Cognizant Technology Solutions (Get an estimate)
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology and outsourcing services in North America, Europe and internationally. Works in four segments: Financial services; Healthcare; Products and resources; and communications, media and technology.
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