Brokerages Set Cognizant Technology Solutions Co. (NASDAQ:CTSH) PT at $81.19

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH - Get Free Report) have received a consensus recommendation of "Hold" from the eighteen ratings firms that are currently covering the stock, Marketbeat.com reports. Fourteen equities research 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 brokerages that have covered the stock in the last year is $81.19.

A number of equities analysts have recently weighed in on CTSH shares. TD Cowen upped their target price on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a "hold" rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lifted their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. Robert W. Baird lifted their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Mizuho increased their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Finally, Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st.

Cognizant Technology Solutions Trading Up 0.5 %

Shares of CTSH stock traded up $0.38 during trading hours on Friday, hitting $77.81. 3,580,359 shares of the company's stock traded hands, compared to its average volume of 2,736,078. The stock has a market cap of $38.58 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07. Cognizant Technology Solutions has a 12 month low of $63.79 and a 12 month high of $82.46. The stock's 50 day simple moving average is $78.98 and its 200 day simple moving average is $76.39. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.15 by $0.10. The firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The business's revenue was up 3.0% compared to the same quarter last year. During the same period last year, the business posted $1.16 EPS. On average, sell-side analysts anticipate that Cognizant Technology Solutions will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Tuesday, November 19th. Cognizant Technology Solutions's payout ratio is 26.55%.

Insider Activity

In other news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the sale, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.26% of the company's stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Graypoint LLC raised its position in shares of Cognizant Technology Solutions by 2.9% during the 4th quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider's stock valued at $369,000 after buying an additional 134 shares in the last quarter. Sandy Cove Advisors LLC raised its position in Cognizant Technology Solutions by 3.2% during the fourth quarter. Sandy Cove Advisors LLC now owns 4,336 shares of the information technology service provider's stock valued at $333,000 after purchasing an additional 135 shares in the last quarter. Pinnacle Bancorp Inc. raised its position in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider's stock valued at $35,000 after purchasing an additional 146 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in Cognizant Technology Solutions by 42.1% during the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider's stock worth $36,000 after purchasing an additional 158 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in shares of Cognizant Technology Solutions by 2.1% in the 4th quarter. Ritholtz Wealth Management now owns 8,704 shares of the information technology service provider's stock worth $669,000 after purchasing an additional 183 shares in the last quarter. 92.44% of the stock is 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.