Cognizant Technology Solutions (NASDAQ:CTSH) Stock Price Down 1.7%

Share on StockTwits

Cognizant Technology Solutions Corp (NASDAQ:CTSH) traded down 1.7% during mid-day trading on Friday . The stock traded as low as $61.02 and last traded at $61.25. 1,815,295 shares changed hands during trading, a decline of 70% from the average session volume of 6,113,191 shares. The stock had previously closed at $62.34.

CTSH has been the subject of a number of analyst reports. Wells Fargo & Co downgraded shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $82.00 to $75.00 in a research report on Tuesday, April 16th. BMO Capital Markets lowered their price target on shares of Cognizant Technology Solutions from $88.00 to $86.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Wedbush lowered shares of Cognizant Technology Solutions from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $80.00 to $70.00 in a report on Friday, May 3rd. ValuEngine lowered shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, Morgan Stanley set a $64.00 target price on shares of Cognizant Technology Solutions and gave the stock a “sell” rating in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the company. Cognizant Technology Solutions presently has an average rating of “Hold” and an average price target of $75.55.

The company has a debt-to-equity ratio of 0.12, a current ratio of 2.90 and a quick ratio of 2.90. The firm has a market capitalization of $35.38 billion, a P/E ratio of 15.23, a PEG ratio of 1.57 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.12). The company had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.16 billion. Cognizant Technology Solutions had a return on equity of 21.50% and a net margin of 12.39%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 earnings per share. As a group, research analysts predict that Cognizant Technology Solutions Corp will post 3.91 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Wednesday, May 22nd were paid a $0.20 dividend. The ex-dividend date was Tuesday, May 21st. This represents a $0.80 dividend on an annualized basis and a yield of 1.30%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 19.90%.

In other news, CEO Brian Humphries acquired 19,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were purchased at an average cost of $61.09 per share, with a total value of $1,160,710.00. Following the completion of the purchase, the chief executive officer now owns 19,000 shares of the company’s stock, valued at $1,160,710. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Srinivasan Veeraraghavachary sold 2,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $74.00, for a total transaction of $148,000.00. Following the sale, the chief operating officer now directly owns 38,992 shares in the company, valued at $2,885,408. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,104 shares of company stock worth $1,526,535. Corporate insiders own 0.56% of the company’s stock.

Large investors have recently modified their holdings of the business. Premia Global Advisors LLC acquired a new stake in Cognizant Technology Solutions in the first quarter valued at $31,000. Acima Private Wealth LLC bought a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at approximately $29,000. Sontag Advisory LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth approximately $30,000. Somerset Trust Co boosted its position in Cognizant Technology Solutions by 152.0% during the 1st quarter. Somerset Trust Co now owns 494 shares of the information technology service provider’s stock worth $36,000 after buying an additional 298 shares during the period. Finally, Resources Investment Advisors Inc. lifted its position in shares of Cognizant Technology Solutions by 125.6% in the 1st quarter. Resources Investment Advisors Inc. now owns 503 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 280 shares during the period. 89.27% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: “Cognizant Technology Solutions (NASDAQ:CTSH) Stock Price Down 1.7%” was first published by Equities Focus and is the sole property of of Equities Focus. If you are accessing this piece on another website, it was illegally copied and reposted in violation of US and international trademark and copyright laws. The original version of this piece can be read at https://www.equitiesfocus.com/2019/06/14/cognizant-technology-solutions-nasdaqctsh-stock-price-down-1-7.html.

Cognizant Technology Solutions Company Profile (NASDAQ:CTSH)

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

Further Reading: How can investors find ex-dividend dates?

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.