Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective lifted by JPMorgan Chase & Co. from $69.00 to $79.00 in a research report sent to investors on Monday morning, The Fly reports. JPMorgan Chase & Co. currently has a neutral rating on the information technology service provider’s stock.
CTSH has been the topic of several other reports. HSBC upgraded shares of Cognizant Technology Solutions from a hold rating to a buy rating and upped their price objective for the stock from $56.00 to $68.00 in a report on Monday, July 13th. raised shares of Cognizant Technology Solutions from an underperform rating to a neutral rating and set a $60.00 price objective on the stock in a research report on Wednesday, June 10th. Royal Bank of Canada increased their target price on shares of Cognizant Technology Solutions from $68.00 to $75.00 and gave the company an outperform rating in a research report on Thursday, July 30th. Citigroup increased their price target on shares of Cognizant Technology Solutions from $66.00 to $78.00 and gave the stock a buy rating in a research note on Thursday, July 30th. Finally, Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a sell rating to a hold rating and set a $67.00 target price for the company in a research note on Wednesday, July 29th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $67.14.
NASDAQ CTSH opened at $66.30 on Monday. Cognizant Technology Solutions has a 1 year low of $40.01 and a 1 year high of $71.48. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.66 and a quick ratio of 2.66. The company has a fifty day moving average of $62.50 and a 200 day moving average of $57.48. The company has a market capitalization of $36.27 billion, a PE ratio of 17.02, a P/E/G ratio of 1.71 and a beta of 1.21.
Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 29th. The information technology service provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.14. Cognizant Technology Solutions had a net margin of 9.67% and a return on equity of 19.87%. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the previous year, the company earned $0.94 earnings per share. The company’s quarterly revenue was down 3.4% on a year-over-year basis. Research analysts expect that Cognizant Technology Solutions will post 3.56 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Friday, August 21st will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.88 annualized dividend and a yield of 1.33%. Cognizant Technology Solutions’s payout ratio is 22.06%.
In other Cognizant Technology Solutions news, Director John Nelson Fox, Jr. sold 6,140 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $67.67, for a total transaction of $415,493.80. Following the completion of the sale, the director now owns 46,827 shares in the company, valued at $3,168,783.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Robert Telesmanic sold 812 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $67.50, for a total transaction of $54,810.00. Following the sale, the senior vice president now owns 9,684 shares of the company’s stock, valued at approximately $653,670. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,746 shares of company stock valued at $788,411. 0.31% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the business. Kore Private Wealth LLC increased its holdings in shares of Cognizant Technology Solutions by 144.8% in the 2nd quarter. Kore Private Wealth LLC now owns 475 shares of the information technology service provider’s stock valued at $26,000 after purchasing an additional 281 shares during the period. Ovata Capital Management Ltd bought a new position in Cognizant Technology Solutions in the second quarter worth $36,000. Creative Financial Designs Inc. ADV lifted its position in Cognizant Technology Solutions by 1,818.9% in the first quarter. Creative Financial Designs Inc. ADV now owns 1,017 shares of the information technology service provider’s stock worth $47,000 after purchasing an additional 964 shares during the period. tru Independence LLC raised its stake in Cognizant Technology Solutions by 266.7% during the second quarter. tru Independence LLC now owns 825 shares of the information technology service provider’s stock worth $47,000 after acquiring an additional 600 shares in the last quarter. Finally, Smithfield Trust Co. raised its stake in Cognizant Technology Solutions by 96.3% during the second quarter. Smithfield Trust Co. now owns 1,162 shares of the information technology service provider’s stock worth $66,000 after acquiring an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 90.22% of the company’s stock.
Cognizant Technology Solutions Company Profile
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.
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