Cognizant Technology Solutions Co. (NASDAQ:CTSH) Receives Average Rating of “Hold” from Brokerages

Cognizant Technology Solutions Co. (NASDAQ:CTSHGet Rating) has been given a consensus rating of “Hold” by the twenty-three brokerages that are currently covering the stock, Marketbeat reports. Five analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $67.58.

CTSH has been the subject of several analyst reports. UBS Group raised their target price on Cognizant Technology Solutions from $62.00 to $68.00 in a research report on Sunday, January 15th. William Blair cut Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a report on Thursday, November 3rd. TheStreet cut Cognizant Technology Solutions from a “b-” rating to a “c+” rating in a report on Thursday, September 29th. Societe Generale cut Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $70.00 price target for the company. in a report on Thursday, November 3rd. Finally, Royal Bank of Canada cut Cognizant Technology Solutions from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $78.00 to $66.00 in a research note on Thursday, November 3rd.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $62.74 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.27 and a quick ratio of 2.27. The company has a market capitalization of $32.24 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. Cognizant Technology Solutions has a one year low of $51.33 and a one year high of $93.47. The business has a 50 day simple moving average of $59.25 and a 200 day simple moving average of $61.80.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last posted its earnings results on Wednesday, November 2nd. The information technology service provider reported $1.17 EPS for the quarter, hitting the consensus estimate of $1.17. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $5.01 billion. Cognizant Technology Solutions had a return on equity of 19.55% and a net margin of 12.11%. On average, sell-side analysts forecast that Cognizant Technology Solutions will post 4.41 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 29th. Stockholders of record on Friday, November 18th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Thursday, November 17th. Cognizant Technology Solutions’s payout ratio is 24.00%.

Insider Activity

In related news, Director Leo S. Jr. Mackay sold 3,300 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $52.79, for a total value of $174,207.00. Following the completion of the sale, the director now directly owns 28,310 shares in the company, valued at $1,494,484.90. The sale was disclosed in a filing with the SEC, which is available at this link. 0.34% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CTSH. BlackRock Inc. lifted its stake in shares of Cognizant Technology Solutions by 11.9% in the 3rd quarter. BlackRock Inc. now owns 54,965,447 shares of the information technology service provider’s stock valued at $3,157,215,000 after acquiring an additional 5,858,080 shares during the last quarter. Boston Partners lifted its stake in shares of Cognizant Technology Solutions by 19.1% in the 3rd quarter. Boston Partners now owns 9,693,839 shares of the information technology service provider’s stock valued at $557,475,000 after acquiring an additional 1,555,231 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Cognizant Technology Solutions by 6,635.8% in the third quarter. Pacer Advisors Inc. now owns 1,090,799 shares of the information technology service provider’s stock valued at $62,655,000 after purchasing an additional 1,074,605 shares during the period. Lazard Asset Management LLC increased its holdings in Cognizant Technology Solutions by 175.2% in the second quarter. Lazard Asset Management LLC now owns 1,503,004 shares of the information technology service provider’s stock valued at $101,436,000 after purchasing an additional 956,946 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in Cognizant Technology Solutions by 13.2% in the third quarter. Alliancebernstein L.P. now owns 7,430,266 shares of the information technology service provider’s stock valued at $426,794,000 after purchasing an additional 865,943 shares during the period. 90.12% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Company Profile

(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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Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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