Brokerages Set Cognizant Technology Solutions Co. (NASDAQ:CTSH) PT at $79.47

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) have earned a consensus recommendation of “Hold” from the twenty ratings firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $79.47.

A number of analysts have weighed in on CTSH shares. Royal Bank of Canada increased 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 research report on Wednesday, August 28th. Robert W. Baird lifted their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. JPMorgan Chase & Co. lifted their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, TD Cowen upped their target price on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $80.82 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. Cognizant Technology Solutions has a 52 week low of $63.79 and a 52 week high of $82.41. The firm has a market cap of $40.07 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 2.22 and a beta of 1.05. The firm’s fifty day moving average is $77.45 and its 200-day moving average is $73.78.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.15 by $0.10. The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 EPS. Sell-side analysts predict that Cognizant Technology Solutions will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.48%. Cognizant Technology Solutions’s payout ratio is 26.55%.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of CTSH. International Assets Investment Management LLC purchased a new stake in shares of Cognizant Technology Solutions in the third quarter valued at about $1,972,000. Daiwa Securities Group Inc. increased its stake in Cognizant Technology Solutions by 12.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider’s stock valued at $7,828,000 after buying an additional 11,349 shares during the last quarter. Trinity Legacy Partners LLC lifted its position in shares of Cognizant Technology Solutions by 14.3% during the 3rd quarter. Trinity Legacy Partners LLC now owns 60,291 shares of the information technology service provider’s stock worth $4,629,000 after buying an additional 7,547 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Cognizant Technology Solutions by 5.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 119,570 shares of the information technology service provider’s stock worth $9,228,000 after buying an additional 6,626 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Cognizant Technology Solutions by 135.4% in the first quarter. Cetera Investment Advisers now owns 33,305 shares of the information technology service provider’s stock valued at $2,441,000 after acquiring an additional 19,157 shares in the last quarter. 92.44% of the stock is owned by hedge funds and other institutional investors.

About Cognizant Technology Solutions

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.