Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Lowered to $78.00 at Robert W. Baird

Cognizant Technology Solutions (NASDAQ:CTSH - Free Report) had its price objective trimmed by Robert W. Baird from $90.00 to $78.00 in a research note published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the information technology service provider's stock.

Other equities analysts have also recently issued reports about the company. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, March 27th. StockNews.com upgraded shares of Cognizant Technology Solutions from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. BMO Capital Markets increased 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. UBS Group dropped their price target on Cognizant Technology Solutions from $93.00 to $88.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Finally, Morgan Stanley lowered their target price on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 12th. Fourteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $84.44.

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Cognizant Technology Solutions Trading Up 1.0 %

Shares of CTSH stock traded up $0.67 during mid-day trading on Tuesday, reaching $70.17. 3,195,183 shares of the stock traded hands, compared to its average volume of 3,594,143. The stock's fifty day simple moving average is $80.43 and its two-hundred day simple moving average is $79.07. 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 has a 1-year low of $63.79 and a 1-year high of $90.82. The company has a market cap of $34.71 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 2.11 and a beta of 1.03.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last announced its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. On average, research analysts anticipate that Cognizant Technology Solutions will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 1.77%. This is a positive change 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 (DPR) is presently 27.49%.

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

Institutional Trading of Cognizant Technology Solutions

A number of institutional investors have recently modified their holdings of CTSH. Hudson Capital Management LLC lifted its position in shares of Cognizant Technology Solutions by 2.1% in the 1st quarter. Hudson Capital Management LLC now owns 59,504 shares of the information technology service provider's stock worth $4,552,000 after purchasing an additional 1,215 shares during the period. E. Ohman J or Asset Management AB boosted its position in Cognizant Technology Solutions by 10.4% during the 1st quarter. E. Ohman J or Asset Management AB now owns 325,903 shares of the information technology service provider's stock valued at $24,932,000 after acquiring an additional 30,746 shares in the last quarter. Vest Financial LLC grew its holdings in shares of Cognizant Technology Solutions by 20.2% during the 1st quarter. Vest Financial LLC now owns 503,438 shares of the information technology service provider's stock worth $38,513,000 after acquiring an additional 84,736 shares during the period. Retireful LLC bought a new position in shares of Cognizant Technology Solutions in the 1st quarter worth approximately $334,000. Finally, Chesley Taft & Associates LLC lifted its stake in shares of Cognizant Technology Solutions by 1.1% in the 1st quarter. Chesley Taft & Associates LLC now owns 26,911 shares of the information technology service provider's stock valued at $2,059,000 after purchasing an additional 291 shares during the period. 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.