Cognizant Technology Solutions (NASDAQ:CTSH) Given New $88.00 Price Target at UBS Group

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective cut by UBS Group from $93.00 to $88.00 in a research note issued to investors on Monday,Benzinga reports. They currently have a neutral rating on the information technology service provider’s stock.

Other analysts have also issued reports about the company. Barclays boosted their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Royal Bank of Canada boosted their price objective on Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Finally, Morgan Stanley cut their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Fifteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.71.

Cognizant Technology Solutions Stock Performance

Shares of Cognizant Technology Solutions stock opened at $79.66 on Monday. Cognizant Technology Solutions has a one year low of $63.79 and a one year high of $90.82. The firm has a market capitalization of $39.40 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 2.11 and a beta of 1.12. The business has a 50-day simple moving average of $82.61 and a 200 day simple moving average of $79.46. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. On average, research analysts anticipate that Cognizant Technology Solutions will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.56%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio is currently 27.49%.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several institutional investors have recently made changes to their positions in the stock. Thrivent Financial for Lutherans increased its holdings in shares of Cognizant Technology Solutions by 17.8% in the third quarter. Thrivent Financial for Lutherans now owns 25,931 shares of the information technology service provider’s stock worth $2,001,000 after purchasing an additional 3,917 shares during the period. Quest Partners LLC increased its holdings in shares of Cognizant Technology Solutions by 113,220.0% in the third quarter. Quest Partners LLC now owns 11,332 shares of the information technology service provider’s stock worth $875,000 after purchasing an additional 11,322 shares during the period. LMR Partners LLP bought a new position in shares of Cognizant Technology Solutions in the third quarter worth $532,000. Strengthening Families & Communities LLC increased its holdings in shares of Cognizant Technology Solutions by 7.5% in the third quarter. Strengthening Families & Communities LLC now owns 23,679 shares of the information technology service provider’s stock worth $1,828,000 after purchasing an additional 1,648 shares during the period. Finally, Meeder Advisory Services Inc. increased its holdings in shares of Cognizant Technology Solutions by 5.2% in the third quarter. Meeder Advisory Services Inc. now owns 10,428 shares of the information technology service provider’s stock worth $805,000 after purchasing an additional 513 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

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.