Robert W. Baird Lowers Cognizant Technology Solutions (NASDAQ:CTSH) Price Target to $76.00

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) had its price target cut by Robert W. Baird from $78.00 to $76.00 in a report issued on Thursday, The Fly reports. They currently have an outperform rating on the information technology service provider’s stock.

A number of other research firms have also recently commented on CTSH. Susquehanna cut their price objective on Cognizant Technology Solutions from $100.00 to $98.00 in a research report on Thursday, July 28th. JPMorgan Chase & Co. cut Cognizant Technology Solutions from an overweight rating to a neutral rating and cut their price objective for the company from $82.00 to $77.00 in a research report on Thursday, July 28th. Cowen restated a downgrade rating on shares of Cognizant Technology Solutions in a research report on Thursday, July 28th. Barclays cut their price objective on Cognizant Technology Solutions from $80.00 to $55.00 and set an underweight rating for the company in a research report on Tuesday, July 19th. Finally, Cowen cut Cognizant Technology Solutions to a market perform rating and dropped their price target for the stock from $86.00 to $75.00 in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $83.13.

Cognizant Technology Solutions Trading Down 0.5 %

Shares of NASDAQ:CTSH opened at $59.80 on Thursday. Cognizant Technology Solutions has a 12-month low of $59.63 and a 12-month high of $93.47. The company has a market capitalization of $30.96 billion, a PE ratio of 13.87, a PEG ratio of 1.24 and a beta of 1.06. The business has a 50 day moving average of $66.09 and a two-hundred day moving average of $74.00. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.05.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The information technology service provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.05. Cognizant Technology Solutions had a return on equity of 19.36% and a net margin of 11.74%. The company had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.92 billion. During the same period in the previous year, the company posted $0.99 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, analysts forecast that Cognizant Technology Solutions will post 4.55 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 30th. Shareholders of record on Friday, August 19th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.81%. The ex-dividend date was Thursday, August 18th. Cognizant Technology Solutions’s payout ratio is currently 25.06%.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, Director Zein Abdalla sold 4,368 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $65.44, for a total value of $285,841.92. Following the completion of the sale, the director now directly owns 13,556 shares in the company, valued at approximately $887,104.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Cognizant Technology Solutions by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 42,692,149 shares of the information technology service provider’s stock valued at $3,828,205,000 after purchasing an additional 1,068,699 shares during the last quarter. State Street Corp lifted its stake in shares of Cognizant Technology Solutions by 2.0% in the 4th quarter. State Street Corp now owns 23,086,842 shares of the information technology service provider’s stock valued at $2,048,265,000 after purchasing an additional 452,967 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Cognizant Technology Solutions by 2.3% in the 1st quarter. Invesco Ltd. now owns 17,470,671 shares of the information technology service provider’s stock valued at $1,566,595,000 after purchasing an additional 398,230 shares during the last quarter. Pzena Investment Management LLC lifted its stake in Cognizant Technology Solutions by 2.4% during the 2nd quarter. Pzena Investment Management LLC now owns 13,768,131 shares of the information technology service provider’s stock worth $929,211,000 after acquiring an additional 325,537 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Cognizant Technology Solutions by 40.6% during the 1st quarter. Wellington Management Group LLP now owns 12,251,722 shares of the information technology service provider’s stock worth $1,098,612,000 after acquiring an additional 3,537,761 shares in the last quarter. Institutional investors and hedge funds own 90.67% of the company’s stock.

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 through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.

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