Cognizant Technology Solutions Co. (NASDAQ:CTSH) Receives $83.67 Average Price Target from Brokerages

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Get Free Report) have received a consensus rating of "Hold" from the twenty research firms that are currently covering the firm, MarketBeat.com reports. Sixteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $83.67.

CTSH has been the subject of a number of research reports. StockNews.com raised shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. UBS Group boosted their target price on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Needham & Company LLC reiterated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. BMO Capital Markets boosted their target price on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a "market perform" rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada boosted their target price on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a "sector perform" rating in a report on Thursday, February 6th.

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Institutional Investors Weigh In On Cognizant Technology Solutions

Large investors have recently bought and sold shares of the company. Retirement Systems of Alabama boosted its position in Cognizant Technology Solutions by 3.5% in the third quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider's stock valued at $91,678,000 after buying an additional 40,226 shares during the last quarter. CGN Advisors LLC purchased a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $1,294,000. ICICI Prudential Asset Management Co Ltd boosted its position in Cognizant Technology Solutions by 50.7% in the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider's stock valued at $33,041,000 after buying an additional 144,535 shares during the last quarter. Todd Asset Management LLC boosted its position in Cognizant Technology Solutions by 24.4% in the 4th quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider's stock worth $33,568,000 after purchasing an additional 85,539 shares in the last quarter. Finally, Matthews International Capital Management LLC boosted its position in Cognizant Technology Solutions by 52.0% in the 4th quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider's stock worth $3,853,000 after purchasing an additional 17,134 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Up 0.9 %

NASDAQ:CTSH traded up $0.77 during mid-day trading on Friday, reaching $84.00. The company's stock had a trading volume of 9,938,424 shares, compared to its average volume of 3,762,991. Cognizant Technology Solutions has a 1 year low of $63.79 and a 1 year high of $90.82. The stock has a fifty day moving average of $82.12 and a 200-day moving average of $79.34. The firm has a market capitalization of $41.55 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. Equities research analysts forecast that Cognizant Technology Solutions will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were given a $0.31 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a yield of 1.48%. This is a positive change from Cognizant Technology Solutions's previous quarterly dividend of $0.30. Cognizant Technology Solutions's dividend payout ratio is currently 27.49%.

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.