Cognizant Technology Solutions (NASDAQ:CTSH) Given Hold Rating at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a research report sent to investors on Thursday,Benzinga reports.

A number of other brokerages have also recently weighed in on CTSH. Royal Bank of Canada restated a “sector perform” rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday. Morgan Stanley decreased their target price 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. UBS Group reduced their target price on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Barclays boosted their price objective on Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Mizuho upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Wednesday, March 19th. Fourteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $84.56.

Cognizant Technology Solutions Stock Down 0.3 %

CTSH opened at $77.58 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. The company has a market capitalization of $38.37 billion, a PE ratio of 17.20, a P/E/G ratio of 2.11 and a beta of 1.12. The stock’s fifty day moving average is $82.72 and its 200-day moving average is $79.47. Cognizant Technology Solutions has a one year low of $63.79 and a one year high of $90.82.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. On average, equities analysts predict that Cognizant Technology Solutions will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Tuesday, February 18th were paid a $0.31 dividend. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 annualized dividend and a dividend yield of 1.60%. Cognizant Technology Solutions’s payout ratio is presently 27.49%.

Cognizant Technology Solutions declared that its board has approved a share repurchase program on Tuesday, March 25th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information technology service provider to buy up to 5.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Cognizant Technology Solutions

A number of institutional investors have recently added to or reduced their stakes in the business. Duncker Streett & Co. Inc. bought a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at $28,000. Trust Co. of Vermont increased its position in Cognizant Technology Solutions by 188.4% during the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after buying an additional 292 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Cognizant Technology Solutions during the fourth quarter valued at about $36,000. Park Square Financial Group LLC acquired a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth about $36,000. Finally, Spire Wealth Management boosted its stake in shares of Cognizant Technology Solutions by 74.7% during 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 currently owned by institutional investors and hedge funds.

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.