Brokerages Set Cognizant Technology Solutions Co. (NASDAQ:CTSH) Target Price at $84.56

Cognizant Technology Solutions Co. (NASDAQ:CTSH - Get Free Report) has received an average rating of "Hold" from the eighteen brokerages that are covering the company, MarketBeat Ratings reports. Fourteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $84.56.

Several research firms recently weighed in on CTSH. Morgan Stanley decreased their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 12th. StockNews.com raised shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. BMO Capital Markets boosted their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a "market perform" rating in a research report on Thursday, February 6th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $93.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday, March 26th. Finally, UBS Group reduced their target price on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating for the company in a report on Monday, March 17th.

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Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Versant Capital Management Inc increased its holdings in shares of Cognizant Technology Solutions by 97.1% in the 1st quarter. Versant Capital Management Inc now owns 1,445 shares of the information technology service provider's stock valued at $111,000 after purchasing an additional 712 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Cognizant Technology Solutions by 25.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,333 shares of the information technology service provider's stock valued at $178,000 after buying an additional 472 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Cognizant Technology Solutions by 0.8% during the 4th quarter. California State Teachers Retirement System now owns 840,827 shares of the information technology service provider's stock valued at $64,660,000 after acquiring an additional 6,554 shares during the period. 111 Capital purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $1,011,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Cognizant Technology Solutions by 257.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 164,857 shares of the information technology service provider's stock worth $12,678,000 after acquiring an additional 118,723 shares during the period. Hedge funds and other institutional investors own 92.44% of the company's stock.

Cognizant Technology Solutions Stock Down 4.5 %

Shares of CTSH stock traded down $3.46 during trading hours on Wednesday, reaching $73.27. 3,835,403 shares of the stock were exchanged, compared to its average volume of 3,551,984. The business's fifty day moving average is $82.57 and its two-hundred day moving average is $79.49. The firm has a market capitalization of $36.24 billion, a P/E ratio of 16.25, a P/E/G ratio of 2.11 and a beta of 1.12. Cognizant Technology Solutions has a 12-month low of $63.79 and a 12-month high of $90.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, beating 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%. As a group, research analysts expect that Cognizant Technology Solutions will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions announced that its board has authorized a share buyback plan on Tuesday, March 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information technology service provider to repurchase up to 5.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its shares are undervalued.

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 paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.69%. This is an increase from Cognizant Technology Solutions's previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. Cognizant Technology Solutions's dividend payout ratio is 27.49%.

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.