Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Cut to $78.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective reduced by Susquehanna from $80.00 to $78.00 in a report released on Thursday morning, Benzinga reports. They currently have a neutral rating on the information technology service provider’s stock.

Other research analysts also recently issued reports about the stock. Guggenheim began coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, March 19th. They set a neutral rating and a $80.00 price objective for the company. Jefferies Financial Group upgraded shares of Cognizant Technology Solutions from a hold rating to a buy rating and raised their target price for the company from $70.00 to $85.00 in a research report on Thursday, January 11th. Evercore ISI upped their price target on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an in-line rating in a report on Tuesday, March 26th. Citigroup cut their price objective on Cognizant Technology Solutions from $90.00 to $82.00 and set a buy rating on the stock in a report on Monday, April 22nd. Finally, Mizuho started coverage on Cognizant Technology Solutions in a report on Tuesday, January 30th. They issued a neutral rating and a $82.00 target price for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Cognizant Technology Solutions has an average rating of Hold and a consensus target price of $75.63.

Cognizant Technology Solutions Stock Performance

Shares of CTSH traded down $0.02 during mid-day trading on Thursday, hitting $66.25. 7,399,746 shares of the company’s stock were exchanged, compared to its average volume of 3,943,487. The company has a quick ratio of 2.25, a current ratio of 2.35 and a debt-to-equity ratio of 0.04. The firm has a market cap of $32.98 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 1.51 and a beta of 1.08. The stock’s 50-day simple moving average is $72.31 and its 200-day simple moving average is $72.46. Cognizant Technology Solutions has a 52 week low of $60.26 and a 52 week high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.01. The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.72 billion. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.11 EPS. On average, equities research analysts expect that Cognizant Technology Solutions will post 4.59 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 1.81%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.85%.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now directly owns 8,312 shares of the company’s stock, valued at $640,522.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vision Capital Management Inc. raised its position in shares of Cognizant Technology Solutions by 0.4% during the fourth quarter. Vision Capital Management Inc. now owns 38,612 shares of the information technology service provider’s stock worth $2,916,000 after purchasing an additional 144 shares during the period. Nilsine Partners LLC raised its holdings in Cognizant Technology Solutions by 4.3% during the fourth quarter. Nilsine Partners LLC now owns 3,756 shares of the information technology service provider’s stock worth $284,000 after buying an additional 156 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Cognizant Technology Solutions by 26.5% during the third quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock valued at $52,000 after buying an additional 162 shares during the last quarter. Sound View Wealth Advisors Group LLC grew its holdings in shares of Cognizant Technology Solutions by 5.4% during the third quarter. Sound View Wealth Advisors Group LLC now owns 3,241 shares of the information technology service provider’s stock valued at $220,000 after buying an additional 165 shares during the last quarter. Finally, Unison Advisors LLC increased its position in shares of Cognizant Technology Solutions by 0.6% during the first quarter. Unison Advisors LLC now owns 29,226 shares of the information technology service provider’s stock worth $2,142,000 after acquiring an additional 172 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.