Cognizant Technology Solutions Corp (NASDAQ:CTSH) has earned a consensus rating of “Buy” from the twenty-eight brokerages that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $84.87.
Several equities analysts have weighed in on the company. BidaskClub lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. BMO Capital Markets reissued a “buy” rating and issued a $85.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, August 2nd. Wolfe Research assumed coverage on Cognizant Technology Solutions in a research note on Tuesday, July 17th. They issued a “market perform” rating on the stock. Cowen reissued a “buy” rating and issued a $87.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, August 3rd. Finally, KeyCorp cut their target price on Cognizant Technology Solutions from $91.00 to $89.00 and set an “overweight” rating on the stock in a research note on Friday, August 3rd.
NASDAQ:CTSH traded down $0.10 during mid-day trading on Friday, hitting $76.69. The company had a trading volume of 169,612 shares, compared to its average volume of 2,986,075. Cognizant Technology Solutions has a fifty-two week low of $69.69 and a fifty-two week high of $85.10. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $44.57 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.41 and a beta of 0.94.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Wednesday, August 22nd were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Tuesday, August 21st. Cognizant Technology Solutions’s dividend payout ratio is currently 22.66%.
In related news, insider Sean Middleton sold 439 shares of the stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $76.28, for a total transaction of $33,486.92. Following the completion of the transaction, the insider now directly owns 5,135 shares in the company, valued at $391,697.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Matthew W. Friedrich sold 447 shares of the stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $76.29, for a total value of $34,101.63. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,238 shares of company stock worth $4,264,970. 0.60% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of CTSH. Rainier Group Investment Advisory LLC bought a new position in shares of Cognizant Technology Solutions during the first quarter worth about $100,000. Kaizen Advisory LLC grew its holdings in shares of Cognizant Technology Solutions by 149.4% during the second quarter. Kaizen Advisory LLC now owns 1,429 shares of the information technology service provider’s stock worth $113,000 after buying an additional 856 shares in the last quarter. Fort L.P. bought a new position in shares of Cognizant Technology Solutions during the second quarter worth about $123,000. San Francisco Sentry Investment Group CA grew its holdings in shares of Cognizant Technology Solutions by 170.0% during the second quarter. San Francisco Sentry Investment Group CA now owns 1,909 shares of the information technology service provider’s stock worth $151,000 after buying an additional 1,202 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Cognizant Technology Solutions by 65.5% during the second quarter. Parallel Advisors LLC now owns 2,226 shares of the information technology service provider’s stock worth $175,000 after buying an additional 881 shares in the last quarter. Institutional investors and hedge funds own 87.87% of the company’s stock.
About Cognizant Technology Solutions
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 business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.
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