Cognizant Technology Solutions (NASDAQ:CTSH) PT Lowered to $78.00 at Susquehanna

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price reduced by Susquehanna from $80.00 to $78.00 in a report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the information technology service provider’s stock.

A number of other analysts have also commented on the company. Jefferies Financial Group raised Cognizant Technology Solutions from a hold rating to a buy rating and increased their price objective for the company from $70.00 to $85.00 in a research note on Thursday, January 11th. Barclays cut their price objective on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an equal weight rating for the company in a research report on Friday, April 26th. Evercore ISI raised their target price on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an in-line rating in a research report on Tuesday, March 26th. BMO Capital Markets cut their price target on Cognizant Technology Solutions from $85.00 to $77.00 and set a market perform rating for the company in a report on Tuesday, April 30th. Finally, Royal Bank of Canada raised their price objective on Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a sector perform rating in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Cognizant Technology Solutions has a consensus rating of Hold and a consensus target price of $75.67.

Cognizant Technology Solutions Trading Down 0.0 %

Shares of CTSH stock opened at $66.25 on Thursday. Cognizant Technology Solutions has a fifty-two week low of $60.26 and a fifty-two week high of $80.09. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $72.31 and a 200-day simple moving average of $72.55. The stock has a market cap of $32.98 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.51 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same period in the prior year, the business earned $1.11 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. On average, analysts forecast that Cognizant Technology Solutions will post 4.6 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be paid a dividend of $0.30 per share. The ex-dividend date is Friday, May 17th. This represents a $1.20 annualized dividend and a yield of 1.81%. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

Insiders Place Their Bets

In other news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the sale, the executive vice president now owns 8,312 shares in the company, valued at $640,522.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CTSH. Exchange Traded Concepts LLC boosted its holdings in Cognizant Technology Solutions by 26.5% in the third quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock valued at $52,000 after purchasing an additional 162 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Cognizant Technology Solutions by 8.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 198,317 shares of the information technology service provider’s stock worth $13,434,000 after buying an additional 15,441 shares during the last quarter. Xponance Inc. lifted its holdings in Cognizant Technology Solutions by 2.4% during the 3rd quarter. Xponance Inc. now owns 64,251 shares of the information technology service provider’s stock worth $4,352,000 after buying an additional 1,499 shares during the last quarter. Raymond James & Associates lifted its holdings in Cognizant Technology Solutions by 1.0% during the 3rd quarter. Raymond James & Associates now owns 434,244 shares of the information technology service provider’s stock worth $29,416,000 after buying an additional 4,092 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in Cognizant Technology Solutions by 8.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 38,932 shares of the information technology service provider’s stock worth $2,637,000 after buying an additional 3,088 shares during the last quarter. 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.