Analysts Set Cognizant Technology Solutions Co. (NASDAQ:CTSH) Target Price at $79.47

Shares of Cognizant Technology Solutions Co. (NASDAQ:CTSH) have been given an average recommendation of “Hold” by the twenty brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, sixteen have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $79.47.

CTSH has been the subject of several analyst reports. TD Cowen raised their target price on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. Robert W. Baird raised their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Finally, Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $73.00 to $75.00 in a report on Wednesday, August 7th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CTSH. Cibc World Market Inc. raised its position in Cognizant Technology Solutions by 19,850.5% in the second quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock worth $205,096,000 after acquiring an additional 3,000,996 shares during the period. Pzena Investment Management LLC raised its position 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 acquiring an additional 1,943,127 shares during the period. Bank of Montreal Can raised its position in Cognizant Technology Solutions by 152.8% in the second quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider’s stock worth $146,132,000 after acquiring an additional 1,281,236 shares during the period. Assenagon Asset Management S.A. raised its position in Cognizant Technology Solutions by 276.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock worth $122,603,000 after acquiring an additional 1,167,033 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Cognizant Technology Solutions by 146.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider’s stock valued at $126,940,000 after purchasing an additional 978,579 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $80.58 on Thursday. The company has a market capitalization of $39.95 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 2.23 and a beta of 1.06. Cognizant Technology Solutions has a 12 month low of $63.79 and a 12 month high of $82.41. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average is $77.72 and its 200-day moving average is $73.98.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The business had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.16 earnings per share. Equities research analysts expect that Cognizant Technology Solutions will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.49%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 26.55%.

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.