Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Raised to $70.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective boosted by Evercore ISI from $65.00 to $70.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has an in-line rating on the information technology service provider’s stock.

Other research analysts have also issued research reports about the company. Wedbush increased their target price on Cognizant Technology Solutions from $75.00 to $85.00 and gave the stock an outperform rating in a research report on Tuesday, December 26th. Mizuho started coverage on Cognizant Technology Solutions in a research report on Tuesday, January 30th. They issued a neutral rating and a $82.00 target price for the company. Jefferies Financial Group raised Cognizant Technology Solutions from a hold rating to a buy rating and increased their target price for the stock from $70.00 to $85.00 in a research report on Thursday, January 11th. Royal Bank of Canada upped their price target on Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a sector perform rating in a research note on Wednesday, February 7th. Finally, Citigroup upped their price target on Cognizant Technology Solutions from $76.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $75.38.

Cognizant Technology Solutions Trading Down 0.4 %

CTSH opened at $73.29 on Tuesday. The business has a 50 day simple moving average of $76.89 and a two-hundred day simple moving average of $72.43. The firm has a market capitalization of $36.49 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.65 and a beta of 1.07. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25. Cognizant Technology Solutions has a one year low of $58.09 and a one year high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.14. The business had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. Cognizant Technology Solutions’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.01 EPS. Analysts predict that Cognizant Technology Solutions will post 4.6 EPS for the current year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.64%. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, February 16th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.57%.

Insider Transactions at Cognizant Technology Solutions

In other news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now directly owns 8,312 shares in the company, valued at approximately $640,522.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently modified their holdings of the company. HighPoint Advisor Group LLC purchased a new position in shares of Cognizant Technology Solutions in the 4th quarter worth $259,000. Vanguard Group Inc. raised its holdings in Cognizant Technology Solutions by 17.0% in the 4th quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after purchasing an additional 7,445,089 shares during the period. Neo Ivy Capital Management bought a new position in Cognizant Technology Solutions in the 4th quarter worth $40,000. V Square Quantitative Management LLC raised its holdings in Cognizant Technology Solutions by 197.7% in the 4th quarter. V Square Quantitative Management LLC now owns 8,056 shares of the information technology service provider’s stock worth $608,000 after purchasing an additional 5,350 shares during the period. Finally, Voisard Asset Management Group Inc. bought a new position in Cognizant Technology Solutions in the 4th quarter worth $45,000. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Company Profile

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.