Brokerages Set Cognizant Technology Solutions Co. (NASDAQ:CTSH) Target Price at $83.67

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Get Free Report) have received a consensus rating of "Hold" from the eighteen analysts that are presently covering the firm, MarketBeat.com reports. Fifteen analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $83.13.

Several research analysts have recently issued reports on CTSH shares. UBS Group decreased their price objective on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Barclays lowered their price target on Cognizant Technology Solutions from $103.00 to $90.00 and set an "overweight" rating on the stock in a research report on Friday. Susquehanna cut their price objective on Cognizant Technology Solutions from $82.00 to $77.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Guggenheim reaffirmed a "neutral" rating on shares of Cognizant Technology Solutions in a research note on Wednesday, April 23rd. Finally, Mizuho upgraded shares of Cognizant Technology Solutions to a "hold" rating in a research report on Wednesday, March 19th.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of institutional investors have recently bought and sold shares of CTSH. Duncker Streett & Co. Inc. purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth approximately $28,000. Trust Co. of Vermont lifted its position in Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider's stock worth $34,000 after buying an additional 292 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Cognizant Technology Solutions in the 4th quarter worth approximately $36,000. Park Square Financial Group LLC purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at $36,000. Finally, Spire Wealth Management increased its stake in shares of Cognizant Technology Solutions by 74.7% in the fourth quarter. Spire Wealth Management now owns 477 shares of the information technology service provider's stock worth $37,000 after acquiring an additional 204 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

Cognizant Technology Solutions Stock Performance

CTSH stock traded up $0.71 during trading on Friday, reaching $73.29. 3,471,061 shares of the company's stock were exchanged, compared to its average volume of 3,601,952. Cognizant Technology Solutions has a 1-year low of $63.79 and a 1-year high of $90.82. The firm has a market cap of $36.25 billion, a PE ratio of 16.25, a P/E/G ratio of 2.11 and a beta of 1.03. The company's fifty day moving average price is $76.60 and its 200-day moving average price is $78.64. 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 posted its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. On average, research analysts expect that Cognizant Technology Solutions will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.69%. The ex-dividend date was Tuesday, February 18th. This is a boost from Cognizant Technology Solutions's previous quarterly dividend of $0.30. Cognizant Technology Solutions's dividend payout ratio (DPR) is 27.49%.

Cognizant Technology Solutions declared that its board has authorized a stock repurchase plan on Tuesday, March 25th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information technology service provider to purchase up to 5.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

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.