Cognizant Technology Solutions (NASDAQ:CTSH) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a hold rating to a buy rating in a research report released on Tuesday.

Several other analysts also recently commented on CTSH. JPMorgan Chase & Co. increased their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Jefferies Financial Group started coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 target price for the company. The Goldman Sachs Group reissued a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. Finally, Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $77.44.

Cognizant Technology Solutions Price Performance

CTSH stock opened at $78.00 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. The company’s 50-day moving average is $76.39 and its 200-day moving average is $71.67. The stock has a market capitalization of $38.78 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. Cognizant Technology Solutions has a 1 year low of $62.14 and a 1 year high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The firm had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter in the previous year, the company posted $1.10 earnings per share. The company’s quarterly revenue was down .7% on a year-over-year basis. Equities research analysts expect that Cognizant Technology Solutions will post 4.62 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio is presently 28.85%.

Insider Activity at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the sale, the chief executive officer now owns 46,427 shares in the company, valued at approximately $3,419,812.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by corporate insiders.

Institutional Trading of Cognizant Technology Solutions

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Cognizant Technology Solutions by 13.6% during the first quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after purchasing an additional 6,933,908 shares during the last quarter. Cibc World Market Inc. lifted its position in Cognizant Technology Solutions by 19,850.5% in the 2nd quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock worth $205,096,000 after buying an additional 3,000,996 shares during the last quarter. Pzena Investment Management LLC boosted its stake in Cognizant Technology Solutions by 11.7% in 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 in the last quarter. Bank of Montreal Can grew its position in Cognizant Technology Solutions by 152.8% during the second quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider’s stock valued at $146,132,000 after acquiring an additional 1,281,236 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Cognizant Technology Solutions by 129.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,904,263 shares of the information technology service provider’s stock worth $139,565,000 after acquiring an additional 1,073,666 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

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.