Cognizant Technology Solutions Co. (NASDAQ:CTSH) Given Average Rating of “Hold” by Analysts

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) have been assigned a consensus recommendation of “Hold” from the twenty research firms that are currently covering the company, Marketbeat reports. Sixteen research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $83.39.

A number of equities analysts have recently commented on CTSH shares. Barclays raised their target price on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. BMO Capital Markets upped their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday, February 6th. Morgan Stanley lowered their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday. Royal Bank of Canada boosted their price target on Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Finally, StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH opened at $79.50 on Friday. The business has a 50-day moving average of $82.28 and a two-hundred day moving average of $79.38. The firm has a market capitalization of $39.32 billion, a PE ratio of 17.63, a P/E/G ratio of 2.11 and a beta of 1.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. Cognizant Technology Solutions has a 12 month low of $63.79 and a 12 month high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 forecast that Cognizant Technology Solutions will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

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

Hedge Funds Weigh In On Cognizant Technology Solutions

Large investors have recently added to or reduced their stakes in the company. Addison Advisors LLC lifted its position in shares of Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after buying an additional 189 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new stake in Cognizant Technology Solutions during the fourth quarter worth about $28,000. Ashton Thomas Securities LLC bought a new position in Cognizant Technology Solutions in the third quarter worth about $30,000. Trust Co. of Vermont boosted its stake in Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after acquiring an additional 292 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at approximately $36,000. 92.44% of the stock is currently owned by 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.