Cognizant Technology Solutions Co. (CTSH) To Go Ex-Dividend on November 19th

Cognizant Technology Solutions Co. (NASDAQ:CTSH) announced a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Shareholders of record on Tuesday, November 19th will be given a dividend of 0.30 per share by the information technology service provider on Wednesday, November 27th. This represents a $1.20 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Tuesday, November 19th.

Cognizant Technology Solutions has raised its dividend payment by an average of 9.7% per year over the last three years. Cognizant Technology Solutions has a payout ratio of 24.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cognizant Technology Solutions to earn $4.97 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 24.1%.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $77.11 on Friday. The stock has a 50-day moving average price of $76.85 and a 200 day moving average price of $72.88. The stock has a market capitalization of $38.23 billion, a P/E ratio of 17.06, a P/E/G ratio of 2.13 and a beta of 1.05. Cognizant Technology Solutions has a 12-month low of $63.79 and a 12-month high of $82.41. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the firm posted $1.16 EPS. The company’s revenue was up 3.0% on a year-over-year basis. Equities research analysts forecast that Cognizant Technology Solutions will post 4.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on CTSH shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. JPMorgan Chase & Co. increased their price target on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Jefferies Financial Group began coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price objective on the stock. TD Cowen upped their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada raised their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $79.47.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.