Cognizant Technology Solutions (NASDAQ:CTSH) Stock Rating Reaffirmed by Wedbush

Wedbush reiterated their outperform rating on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a research report released on Thursday morning, Benzinga reports. Wedbush currently has a $85.00 target price on the information technology service provider’s stock.

A number of other research analysts have also commented on CTSH. Societe Generale reissued a sell rating and set a $67.00 price objective on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Barclays lowered their price objective on Cognizant Technology Solutions from $80.00 to $75.00 and set an equal weight rating on the stock in a report on Friday, April 26th. Susquehanna decreased their target price on Cognizant Technology Solutions from $80.00 to $78.00 and set a neutral rating for the company in a research note on Thursday. Guggenheim assumed coverage on Cognizant Technology Solutions in a research note on Tuesday, March 19th. They set a neutral rating and a $80.00 target price for the company. Finally, Jefferies Financial Group upgraded Cognizant Technology Solutions from a hold rating to a buy rating and increased their target price for the company from $70.00 to $85.00 in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of Hold and a consensus price target of $75.67.

Cognizant Technology Solutions Price Performance

CTSH opened at $66.25 on Thursday. The stock has a market cap of $32.98 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.51 and a beta of 1.08. Cognizant Technology Solutions has a 1 year low of $60.26 and a 1 year high of $80.09. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average price of $72.31 and a 200 day moving average price of $72.55.

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

Cognizant Technology Solutions Announces Dividend

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

Insider Transactions at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the sale, the executive vice president now directly owns 8,312 shares in the company, valued at approximately $640,522.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Cognizant Technology Solutions

Several hedge funds have recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at approximately $26,000. NBC Securities Inc. bought a new position in Cognizant Technology Solutions in the third quarter valued at approximately $27,000. Spire Wealth Management grew its holdings in Cognizant Technology Solutions by 79.1% during the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 193 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at $40,000. Finally, Quarry LP bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at $43,000. 92.44% of the stock is owned by 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.