Cognizant (CTSH) Receives Average Recommendation of “Buy” from Brokerages

Shares of Cognizant (NASDAQ:CTSH) have been given an average recommendation of “Buy” by the thirty-one analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, twenty-one have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $84.00.

Several brokerages have recently commented on CTSH. BidaskClub downgraded Cognizant from a “buy” rating to a “hold” rating in a research note on Friday, May 18th. Zacks Investment Research downgraded Cognizant from a “buy” rating to a “sell” rating in a research note on Wednesday, May 9th. Credit Suisse Group set a $95.00 target price on Cognizant and gave the company a “buy” rating in a research note on Tuesday, May 8th. Morgan Stanley reduced their target price on Cognizant to $88.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 8th. Finally, ValuEngine downgraded Cognizant from a “buy” rating to a “hold” rating in a research note on Monday, May 7th.

Shares of CTSH traded down $0.15 during trading hours on Friday, hitting $75.78. The stock had a trading volume of 2,872,517 shares, compared to its average volume of 3,793,939. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.64 and a quick ratio of 3.64. The company has a market cap of $44.40 billion, a PE ratio of 21.47, a P/E/G ratio of 1.44 and a beta of 1.07. Cognizant has a 1-year low of $65.59 and a 1-year high of $85.10.

Cognizant (NASDAQ:CTSH) last issued its earnings results on Monday, May 7th. The information technology service provider reported $1.06 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.06. The company had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.90 billion. Cognizant had a return on equity of 20.48% and a net margin of 9.67%. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the business posted $0.84 EPS. analysts expect that Cognizant will post 4.17 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 31st. Shareholders of record on Tuesday, May 22nd will be given a dividend of $0.20 per share. The ex-dividend date is Monday, May 21st. This represents a $0.80 annualized dividend and a dividend yield of 1.06%. Cognizant’s dividend payout ratio is currently 22.66%.

In other Cognizant news, insider Gajakarnan Vibushanan Kandiah sold 1,519 shares of Cognizant stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $84.62, for a total transaction of $128,537.78. Following the transaction, the insider now owns 10,584 shares of the company’s stock, valued at approximately $895,618.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James Patrick Lennox sold 4,614 shares of Cognizant stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $81.40, for a total transaction of $375,579.60. Following the transaction, the executive vice president now directly owns 11,445 shares in the company, valued at approximately $931,623. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,034 shares of company stock worth $3,563,118. Insiders own 0.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of CTSH. Bank of Montreal Can raised its holdings in shares of Cognizant by 53.3% in the 4th quarter. Bank of Montreal Can now owns 428,742 shares of the information technology service provider’s stock worth $30,449,000 after purchasing an additional 149,094 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Cognizant by 3.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,066,661 shares of the information technology service provider’s stock worth $146,775,000 after purchasing an additional 74,455 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Cognizant by 718.8% in the 4th quarter. State of Alaska Department of Revenue now owns 69,270 shares of the information technology service provider’s stock worth $4,918,000 after purchasing an additional 60,810 shares during the period. Hendershot Investments Inc. raised its holdings in shares of Cognizant by 2.9% in the 4th quarter. Hendershot Investments Inc. now owns 118,954 shares of the information technology service provider’s stock worth $8,448,000 after purchasing an additional 3,365 shares during the period. Finally, Osborn Williams & Donohoe LLC raised its holdings in shares of Cognizant by 22.6% in the 4th quarter. Osborn Williams & Donohoe LLC now owns 4,230 shares of the information technology service provider’s stock worth $300,000 after purchasing an additional 780 shares during the period. 88.07% of the stock is currently owned by hedge funds and other institutional investors.

About Cognizant

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

Analyst Recommendations for Cognizant (NASDAQ:CTSH)

Receive News & Ratings for Cognizant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit