Cognizant Technology Solutions (NASDAQ:CTSH) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Cognizant Technology Solutions Co. (NASDAQ:CTSH - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $75.67 and traded as high as $78.60. Cognizant Technology Solutions shares last traded at $76.75, with a volume of 3,208,941 shares.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CTSH shares. TD Cowen lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a "hold" rating in a report on Thursday, October 31st. Mizuho boosted their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Needham & Company LLC restated a "hold" rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Robert W. Baird upped their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a "hold" rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Cognizant Technology Solutions has an average rating of "Hold" and a consensus price target of $80.35.

Cognizant Technology Solutions Stock Up 0.2 %

The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm's 50 day simple moving average is $78.85 and its 200 day simple moving average is $75.76. The company has a market cap of $38.13 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 2.24 and a beta of 1.06.

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

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.56%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions's dividend payout ratio is presently 26.55%.

Insider Activity

In related news, CAO John Sunshin Kim sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The shares were 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 directly owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company's stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in CTSH. Principal Financial Group Inc. increased its stake in shares of Cognizant Technology Solutions by 5.0% during the 3rd quarter. Principal Financial Group Inc. now owns 665,305 shares of the information technology service provider's stock worth $51,348,000 after purchasing an additional 31,758 shares during the last quarter. Retirement Systems of Alabama raised its holdings in Cognizant Technology Solutions by 3.5% during 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 in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Cognizant Technology Solutions in the third quarter worth about $155,000. World Investment Advisors LLC boosted its stake in shares of Cognizant Technology Solutions by 21.8% during the 3rd quarter. World Investment Advisors LLC now owns 5,634 shares of the information technology service provider's stock worth $435,000 after acquiring an additional 1,010 shares in the last quarter. Finally, Tudor Financial Inc. acquired a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at about $225,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

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.