Cognizant Technology Solutions Corporation (CTSH) Receives Buy Rating from SunTrust Banks, Inc.

SunTrust Banks, Inc. reissued their buy rating on shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in a research note issued to investors on Friday. SunTrust Banks, Inc. currently has a $85.00 target price on the information technology service provider’s stock.

Several other analysts have also recently commented on the company. Royal Bank Of Canada restated a buy rating and issued a $77.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Sunday, October 8th. Robert W. Baird restated a buy rating and issued a $80.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Sunday, September 10th. Zacks Investment Research upgraded Cognizant Technology Solutions Corporation from a hold rating to a buy rating and set a $82.00 target price on the stock in a research report on Tuesday, October 10th. Vetr upgraded Cognizant Technology Solutions Corporation from a sell rating to a buy rating and set a $76.85 target price on the stock in a research report on Tuesday, September 19th. Finally, Wedbush restated an outperform rating on shares of Cognizant Technology Solutions Corporation in a research report on Monday, September 18th. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. Cognizant Technology Solutions Corporation has a consensus rating of Buy and a consensus target price of $80.71.

Cognizant Technology Solutions Corporation (CTSH) traded down $0.09 on Friday, reaching $74.27. The company had a trading volume of 3,790,000 shares, compared to its average volume of 3,000,000. Cognizant Technology Solutions Corporation has a 12-month low of $51.35 and a 12-month high of $76.51. The company has a current ratio of 3.29, a quick ratio of 3.35 and a debt-to-equity ratio of 0.07. The firm has a market cap of $43,790.00, a PE ratio of 22.20, a P/E/G ratio of 1.70 and a beta of 1.10.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions Corporation had a return on equity of 18.94% and a net margin of 13.42%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the firm earned $0.86 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. equities analysts predict that Cognizant Technology Solutions Corporation will post 3.3 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 20th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $0.60 annualized dividend and a dividend yield of 0.81%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 18.58%.

In other news, insider Sumithra Gomatam sold 10,000 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $69.75, for a total value of $697,500.00. Following the completion of the sale, the insider now owns 24,445 shares of the company’s stock, valued at $1,705,038.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Maureen Breakiron-Evans sold 12,368 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $69.70, for a total value of $862,049.60. Following the completion of the sale, the director now directly owns 1,075 shares of the company’s stock, valued at approximately $74,927.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 281,758 shares of company stock valued at $20,158,801. 1.08% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC boosted its position in Cognizant Technology Solutions Corporation by 92.6% during the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after purchasing an additional 800 shares during the last quarter. WFG Advisors LP boosted its position in Cognizant Technology Solutions Corporation by 46.4% during the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after purchasing an additional 621 shares during the last quarter. Krilogy Financial LLC acquired a new stake in Cognizant Technology Solutions Corporation during the second quarter valued at $137,000. Manchester Capital Management LLC boosted its position in Cognizant Technology Solutions Corporation by 15.7% during the second quarter. Manchester Capital Management LLC now owns 2,728 shares of the information technology service provider’s stock valued at $181,000 after purchasing an additional 370 shares during the last quarter. Finally, First National Trust Co. acquired a new stake in shares of Cognizant Technology Solutions Corporation in the second quarter worth about $207,000. 87.35% of the stock is owned by hedge funds and other institutional investors.

About Cognizant Technology Solutions Corporation

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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