Cognizant Technology Solutions Corp (CTSH) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) have earned a consensus recommendation of “Buy” from the twenty-nine brokerages that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, twenty-one have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $84.78.

Several research analysts have recently issued reports on the stock. Jefferies Group reiterated a “buy” rating and issued a $81.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, October 12th. Cowen reissued a “buy” rating and set a $80.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, October 12th. KeyCorp reissued a “buy” rating and set a $79.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, October 12th. Robert W. Baird increased their target price on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, October 19th. Finally, Barclays increased their target price on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. They noted that the move was a valuation call.

In related news, General Counsel Matthew W. Friedrich sold 2,711 shares of Cognizant Technology Solutions stock in a transaction on Monday, November 13th. The shares were sold at an average price of $74.30, for a total value of $201,427.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sean Middleton sold 1,278 shares of Cognizant Technology Solutions stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $71.36, for a total transaction of $91,198.08. Following the completion of the sale, the insider now directly owns 3,366 shares of the company’s stock, valued at approximately $240,197.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 961,064 shares of company stock valued at $70,504,403. Insiders own 1.08% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Twin Tree Management LP grew its position in Cognizant Technology Solutions by 150.6% in the 4th quarter. Twin Tree Management LP now owns 3,871 shares of the information technology service provider’s stock valued at $275,000 after purchasing an additional 11,527 shares during the period. Vestpro Financial Partners Inc. dba CPF Texas acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at $107,000. Arizona State Retirement System grew its position in Cognizant Technology Solutions by 17.3% in the 4th quarter. Arizona State Retirement System now owns 171,795 shares of the information technology service provider’s stock valued at $12,201,000 after purchasing an additional 25,337 shares during the period. Pinebridge Investments L.P. grew its position in Cognizant Technology Solutions by 92.7% in the 4th quarter. Pinebridge Investments L.P. now owns 40,350 shares of the information technology service provider’s stock valued at $2,865,000 after purchasing an additional 19,409 shares during the period. Finally, Squar Milner Financial Services LLC acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at $375,000. 86.95% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions (CTSH) traded down $0.73 during midday trading on Friday, reaching $74.43. 3,090,993 shares of the company’s stock traded hands, compared to its average volume of 3,863,670. Cognizant Technology Solutions has a 1 year low of $57.00 and a 1 year high of $79.28. The company has a current ratio of 3.21, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07. The company has a market cap of $43,960.00, a PE ratio of 29.50, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.88 by $0.15. Cognizant Technology Solutions had a net margin of 10.15% and a return on equity of 19.94%. The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.82 billion. During the same quarter in the prior year, the firm earned $0.87 EPS. Cognizant Technology Solutions’s quarterly revenue was up 10.6% on a year-over-year basis. equities research analysts anticipate that Cognizant Technology Solutions will post 3.94 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Thursday, February 22nd will be given a dividend of $0.20 per share. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.07%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 23.81%.

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Cognizant Technology Solutions Company Profile

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.

Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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