MarketBeat Ratings reports that shares of Cognizant Technology Solutions Co. (NASDAQ: CTSH) have reached a “Buy” consensus recommendation from seventeen valuation companies covering the company. One analyst rated the shares with a sales rating, three rated the retention rating and nine gave the company a buy rating. The 12-month average price among stock-covered analysts over the past year is $ 92.53.
Recently, several research firms were measured in CTSH. Cowen lowered its price target for Cognizant Technology Solutions from $ 98.00 to $ 95.00 in a research note on Monday, May 9th. Citigroup lowered its price target for Cognizant Technology Solutions from $ 95.00 to $ 88.00 on Thursday, May 5, in a research note. Cowen lowered its target price for Cognizant Technology Solutions from $ 98.00 to $ 95.00 in a research report on Monday, May 9th. Finally, StockNews.com downgraded Cognizant Technology Solutions from a “strong-buy” rating to a “buy-in” rating on Wednesday, May 11, in a research report.
CTSH opened at $ 69.91 on Friday. The company’s fifty-day moving average is $ 78.62 and the 200-day moving average is $ 83.77. The company has a market capitalization of $ 36.43 billion, a P / E ratio of $ 16.76, a price-to-earnings-growth ratio of 1.31 and a beta of 1.10. The company has a debt and equity ratio of 0.05, a fast ratio of 2.22 and a current ratio of 2.22. Cognizant Technology Solutions has a 52-week low of $ 66.19 and a 52-week high of $ 93.47.
Cognizant Technology Solutions (NASDAQ: CTSH – Get Rating) released its quarterly earnings data for the last time on Wednesday, May 4th. The information technology service provider earned $ 1.08 per share for the quarter, exceeding the agreed-upon estimate of $ 1.04 by $ 0.04. The business had revenue of $ 4.8 trillion in the quarter compared to analysts ’estimates of $ 4.8 billion. Cognizant Technology Solutions had a return of 19.07% and a net margin of 11.59%. Cognizant Technology Solutions revenue rose 9.7% from the same quarter last year. At the same time last year, the company earned $ 0.97 per share. On average, research analysts predict that Cognizant Technology Solutions will earn 4.51 earnings per share in the current fiscal year.
The business also recently released a quarterly dividend, which was paid on Tuesday, May 31st. On Friday, May 20, shareholders were given a dividend of $ 0.27 per share. The undivided date was Thursday, May 19th. This represents a dividend of $ 1.08% on an annual basis and a dividend yield of $ 1.54%. The dividend payment ratio (DPR) of Cognizant Technology Solutions is 25.90%.
In other news from Cognizant Technology Solutions, Andrew J. Stafford EVP sold 5,867 shares of Cognizant Technology Solutions in a transaction that occurred on Tuesday, May 10th. The shares were sold at an average price of $ 77.24, with a total value of $ 453,167.08. Following the sale, the executive vice president now owns 5,872 shares of the company directly, valued at $ 453,553.28. The sale was announced in a file available on the SEC website. In addition, CEO Michael Patsalos-Fox sold 5,687 shares of Cognizant Technology Solutions shares in a transaction that took place on Tuesday, May 17th. The stock was sold at an average price of $ 74.40, for a total value of $ 423,112.80. Following the sale, the director now owns 57,534 shares of the company, valued at $ 4,280,529.60. Disclosure of this sale can be found here. 0.34% of the shares are owned by the company.
Hedge funds have recently changed their stake in the business. Norges Bank bought a new position in the shares of Cognizant Technology Solutions in the fourth quarter for approximately $ 465,540,000. Wellington Management Group LLP increased its position in shares of Cognizant Technology Solutions by 40.6% in the first quarter. Wellington Management Group LLP now owns 12,251,722 shares of information technology service provider, valued at $ 1,098,612,000, after buying an additional 3,537,761 shares during the last quarter. First Trust Advisors LP increased its position in shares of Cognizant Technology Solutions by 50.0% in the fourth quarter. First Trust Advisors LP now owns 5,934,516 shares of information technology services provider, worth $ 526,510,000, after buying 1,979,276 more shares during the last quarter. Boston Partners ’share of Cognizant Technology Solutions rose 26.6% in the fourth quarter. Boston Partners now owns 6,685,153 shares of information technology service provider worth $ 593,070,000 after buying 1,405,697 more shares in the last quarter. Finally, Invesco Ltd.’s shareholding in Cognizant Technology Solutions rose 7.2% in the fourth quarter. Invesco Ltd. now owns 17,072,441 shares of information technology service provider worth $ 1,514,667,000 after buying 1,139,513 more shares during the last quarter. Institutional investors and hedge funds hold 90.73% of the company’s shares.
About Cognizant Technology Solutions (Get rating)
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology and outsourcing services in North America, Europe and internationally. It operates in four segments: Financial Services; Health; Products and Resources; and Communications, Media and Technology.
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