Cognizant Technology Solutions (NASDAQ:CTSH) Stock Price Expected to Rise, Mizuho Analyst Says

Cognizant Technology Solutions (NASDAQ:CTSH - Free Report) had its target price lifted by Mizuho from $83.00 to $84.00 in a report released on Friday, Benzinga reports. Mizuho currently has a neutral rating on the information technology service provider's stock.

A number of other equities research analysts also recently commented on CTSH. Barclays lifted their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Cognizant Technology Solutions in a research report on Thursday. TD Cowen increased their target price on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a "hold" rating in a research note on Thursday. StockNews.com downgraded shares of Cognizant Technology Solutions from a "buy" rating to a "hold" rating in a research note on Thursday. Finally, Robert W. Baird increased their price objective on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, twenty have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Cognizant Technology Solutions presently has an average rating of "Hold" and an average target price of $77.70.

Cognizant Technology Solutions Trading Up 0.0 %

Shares of NASDAQ CTSH traded up $0.02 during trading on Friday, hitting $74.61. 4,101,130 shares of the company were exchanged, compared to its average volume of 3,827,082. The company has a fifty day moving average price of $76.36 and a 200-day moving average price of $71.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. The firm has a market capitalization of $36.98 billion, a PE ratio of 16.51, a P/E/G ratio of 2.09 and a beta of 1.05. Cognizant Technology Solutions has a 12-month low of $62.14 and a 12-month high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.37%. The company had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. Cognizant Technology Solutions's quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts expect that Cognizant Technology Solutions will post 4.62 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Tuesday, November 19th. Cognizant Technology Solutions's dividend payout ratio (DPR) is 26.55%.

Insider Transactions at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the completion of the sale, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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. Vanguard Group Inc. lifted its holdings in shares of Cognizant Technology Solutions by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider's stock valued at $4,254,178,000 after purchasing an additional 6,933,908 shares during the last quarter. Pzena Investment Management LLC increased its position in Cognizant Technology Solutions by 11.7% during the second quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider's stock worth $1,265,473,000 after buying an additional 1,943,127 shares during the period. Boston Partners lifted its stake in Cognizant Technology Solutions by 1.3% in the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider's stock valued at $569,175,000 after buying an additional 101,078 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Cognizant Technology Solutions by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider's stock valued at $378,483,000 after acquiring an additional 94,209 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Cognizant Technology Solutions by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider's stock valued at $363,153,000 after acquiring an additional 142,225 shares during the period. 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.