Cognizant Technology Solutions Co. (NASDAQ:CTSH) Receives $82.87 Average Price Target from Analysts

Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) has earned a consensus recommendation of “Hold” from the seventeen research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $82.33.

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. downgraded Cognizant Technology Solutions from an “overweight” rating to a “neutral” rating and cut their target price for the company from $82.00 to $77.00 in a research report on Thursday, July 28th. Morgan Stanley cut their target price on Cognizant Technology Solutions from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 28th. Robert W. Baird cut their target price on Cognizant Technology Solutions from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Thursday. UBS Group cut their target price on Cognizant Technology Solutions from $89.00 to $76.00 and set a “neutral” rating on the stock in a research report on Thursday, July 28th. Finally, Susquehanna cut their target price on Cognizant Technology Solutions from $100.00 to $98.00 in a research report on Thursday, July 28th.

Insider Activity at Cognizant Technology Solutions

In related news, Director Zein Abdalla sold 4,368 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $65.44, for a total value of $285,841.92. Following the transaction, the director now directly owns 13,556 shares of the company’s stock, valued at approximately $887,104.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Cognizant Technology Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC boosted its position in Cognizant Technology Solutions by 118.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 7,485 shares of the information technology service provider’s stock valued at $664,000 after buying an additional 4,054 shares during the period. Schroder Investment Management Group increased its stake in shares of Cognizant Technology Solutions by 3.0% during the fourth quarter. Schroder Investment Management Group now owns 392,206 shares of the information technology service provider’s stock worth $34,797,000 after acquiring an additional 11,348 shares during the period. Gotham Asset Management LLC grew its position in Cognizant Technology Solutions by 27.9% during the fourth quarter. Gotham Asset Management LLC now owns 5,495 shares of the information technology service provider’s stock worth $488,000 after buying an additional 1,200 shares during the period. Siemens Fonds Invest GmbH grew its position in Cognizant Technology Solutions by 7.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 16,371 shares of the information technology service provider’s stock worth $1,456,000 after buying an additional 1,196 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in Cognizant Technology Solutions by 4.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 73,231 shares of the information technology service provider’s stock worth $6,497,000 after buying an additional 2,790 shares during the period. Institutional investors and hedge funds own 90.67% of the company’s stock.

Cognizant Technology Solutions Stock Down 0.5 %

Cognizant Technology Solutions stock opened at $59.80 on Tuesday. The business has a fifty day moving average of $66.09 and a two-hundred day moving average of $74.00. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.05. The firm has a market cap of $30.96 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.24 and a beta of 1.06. Cognizant Technology Solutions has a twelve month low of $59.63 and a twelve month high of $93.47.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last posted its earnings results on Wednesday, July 27th. The information technology service provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.05. The company had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.92 billion. Cognizant Technology Solutions had a return on equity of 19.36% and a net margin of 11.74%. Cognizant Technology Solutions’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.99 earnings per share. On average, analysts forecast that Cognizant Technology Solutions will post 4.55 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 30th. Stockholders of record on Friday, August 19th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Thursday, August 18th. Cognizant Technology Solutions’s payout ratio is currently 25.06%.

Cognizant Technology Solutions Company Profile

(Get Rating)

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; Healthcare; Products and Resources; and Communications, Media and Technology.

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Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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