Cognizant Technology Solutions (NASDAQ:CTSH) Hits New 52-Week High on Analyst Upgrade

Cognizant Technology Solutions Co. (NASDAQ:CTSH) shares hit a new 52-week high on Tuesday after Barclays raised their price target on the stock from $95.00 to $103.00. Barclays currently has an overweight rating on the stock. Cognizant Technology Solutions traded as high as $87.86 and last traded at $87.88, with a volume of 525638 shares changing hands. The stock had previously closed at $86.96.

CTSH has been the topic of several other reports. TD Cowen raised their target price on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird boosted their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Morgan Stanley raised their price target on Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. UBS Group boosted their price objective on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, February 6th. Sixteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average price target of $83.67.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the sale, the chief accounting officer now directly owns 39,022 shares in the company, valued at $3,126,052.42. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Addison Advisors LLC lifted its holdings in shares of Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after acquiring an additional 189 shares during the last quarter. Duncker Streett & Co. Inc. bought a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $28,000. Ashton Thomas Securities LLC bought a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $30,000. Trust Co. of Vermont grew its position in Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after acquiring an additional 292 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Cognizant Technology Solutions in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Stock Performance

The company has a market capitalization of $43.62 billion, a PE ratio of 19.50, a PEG ratio of 2.32 and a beta of 1.07. The firm’s 50-day simple moving average is $79.67 and its 200-day simple moving average is $77.75. The company has a current ratio of 2.09, a quick ratio of 2.23 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. On average, research analysts predict that Cognizant Technology Solutions Co. will post 4.99 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.41%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s payout ratio is currently 26.61%.

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.