Cognizant Technology Solutions (CTSH) PT Raised to $86.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective hoisted by BMO Capital Markets from $78.00 to $86.00 in a research report report published on Thursday. The brokerage currently has an outperform rating on the information technology service provider’s stock.

CTSH has been the subject of a number of other research reports. Vetr raised shares of Cognizant Technology Solutions from a hold rating to a strong-buy rating and set a $95.56 price target for the company in a research note on Wednesday, November 29th. Zacks Investment Research cut shares of Cognizant Technology Solutions from a buy rating to a hold rating in a research note on Friday, January 12th. BidaskClub cut shares of Cognizant Technology Solutions from a buy rating to a hold rating in a research note on Tuesday, December 5th. Needham & Company LLC raised shares of Cognizant Technology Solutions from a buy rating to a strong-buy rating and boosted their price target for the stock from $78.00 to $90.00 in a research note on Wednesday, November 1st. Finally, William Blair raised shares of Cognizant Technology Solutions from a market perform rating to an outperform rating in a research note on Wednesday, November 1st. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $84.21.

Shares of Cognizant Technology Solutions (NASDAQ:CTSH) opened at $76.29 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.21. The firm has a market cap of $44,984.02, a P/E ratio of 30.15, a P/E/G ratio of 1.54 and a beta of 1.11. Cognizant Technology Solutions has a twelve month low of $57.00 and a twelve month high of $79.28.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.15. Cognizant Technology Solutions had a negative net margin of 0.50% and a negative return on equity of 0.67%. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the prior year, the firm posted $0.87 EPS. Cognizant Technology Solutions’s revenue was up 10.6% on a year-over-year basis. analysts forecast that Cognizant Technology Solutions will post 3.97 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Thursday, February 22nd will be paid a $0.20 dividend. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, February 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.05%. Cognizant Technology Solutions’s dividend payout ratio is 23.72%.

In other news, insider Sean Middleton sold 1,278 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $71.36, for a total value of $91,198.08. Following the completion of the sale, the insider now owns 3,366 shares of the company’s stock, valued at approximately $240,197.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sumithra Gomatam sold 2,625 shares of the company’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $76.00, for a total transaction of $199,500.00. Following the completion of the sale, the insider now directly owns 40,979 shares of the company’s stock, valued at approximately $3,114,404. The disclosure for this sale can be found here. Insiders sold a total of 996,790 shares of company stock valued at $73,331,177 in the last ninety days. 1.08% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Shine Investment Advisory Services Inc. boosted its position in Cognizant Technology Solutions by 108.8% during the 4th quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock valued at $107,000 after buying an additional 788 shares during the period. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in Cognizant Technology Solutions during the 4th quarter valued at $107,000. Bank of Nova Scotia Trust Co. purchased a new stake in Cognizant Technology Solutions during the 3rd quarter valued at $121,000. Cerebellum GP LLC purchased a new stake in Cognizant Technology Solutions during the 4th quarter valued at $128,000. Finally, WFG Advisors LP boosted its position in Cognizant Technology Solutions by 46.4% during the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after buying an additional 621 shares during the period. 86.95% of the stock is owned by institutional investors and hedge funds.

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About Cognizant Technology Solutions

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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