UBS Group Cuts Cognizant Technology Solutions (NASDAQ:CTSH) Price Target to $88.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price decreased by UBS Group from $93.00 to $88.00 in a research report released on Monday morning,Benzinga reports. UBS Group currently has a neutral rating on the information technology service provider’s stock.

Other equities analysts have also issued research reports about the company. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. BMO Capital Markets lifted their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, February 6th. Barclays lifted their price target on Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada raised their price objective on Cognizant Technology Solutions from $82.00 to $93.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Finally, Morgan Stanley cut their price objective on 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. Fifteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $83.71.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $79.66 on Monday. The stock’s fifty day moving average price is $82.61 and its two-hundred day moving average price is $79.46. Cognizant Technology Solutions has a one year low of $63.79 and a one year high of $90.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a market cap of $39.40 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts expect that Cognizant Technology Solutions will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.31 per share. The ex-dividend date was Tuesday, February 18th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.56%. Cognizant Technology Solutions’s payout ratio is presently 27.49%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Duncker Streett & Co. Inc. bought a new position in shares of Cognizant Technology Solutions in the 4th quarter worth about $28,000. Trust Co. of Vermont raised its position in shares of Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 292 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Cognizant Technology Solutions in the 4th quarter worth about $36,000. Park Square Financial Group LLC bought a new position in shares of Cognizant Technology Solutions in the 4th quarter worth about $36,000. Finally, Spire Wealth Management raised its position in shares of Cognizant Technology Solutions by 74.7% in the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after acquiring an additional 204 shares in the last quarter. 92.44% of the stock is owned by 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.