Cognizant Technology Solutions (NASDAQ:CTSH) had its target price lifted by Deutsche Bank from $60.00 to $68.00 in a report released on Thursday, BenzingaRatingsTable reports. Deutsche Bank currently has a hold rating on the information technology service provider’s stock.
A number of other research firms also recently weighed in on CTSH. UBS Group cut their target price on Cognizant Technology Solutions from $57.00 to $37.00 and set a sell rating for the company in a research report on Tuesday, April 7th. Needham & Company LLC upgraded Cognizant Technology Solutions from an underperform rating to a hold rating in a report on Thursday. Robert W. Baird lifted their target price on Cognizant Technology Solutions from $68.00 to $72.00 and gave the stock an outperform rating in a report on Tuesday, July 28th. Wells Fargo & Co boosted their price target on shares of Cognizant Technology Solutions from $70.00 to $78.00 and gave the stock a buy rating in a research report on Thursday. Finally, Nomura restated a hold rating and set a $68.00 price objective on shares of Cognizant Technology Solutions in a research report on Sunday, May 10th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. Cognizant Technology Solutions currently has a consensus rating of Hold and an average target price of $66.67.
Shares of CTSH stock opened at $68.32 on Thursday. Cognizant Technology Solutions has a 1 year low of $40.01 and a 1 year high of $71.48. The firm has a market capitalization of $36.93 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 1.76 and a beta of 1.15. The stock has a fifty day moving average of $57.51 and a two-hundred day moving average of $56.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.90 and a current ratio of 2.66.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 21st will be given a $0.22 dividend. The ex-dividend date is Thursday, August 20th. This represents a $0.88 annualized dividend and a dividend yield of 1.29%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 22.06%.
In other Cognizant Technology Solutions news, insider Malcolm Frank sold 1,492 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $54.83, for a total transaction of $81,806.36. Following the completion of the sale, the insider now directly owns 32,924 shares in the company, valued at approximately $1,805,222.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Matthew W. Friedrich sold 3,153 shares of Cognizant Technology Solutions stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $54.83, for a total value of $172,878.99. The disclosure for this sale can be found here. Insiders have sold 5,794 shares of company stock worth $318,107 in the last quarter. 0.31% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV grew its holdings in shares of Cognizant Technology Solutions by 1,818.9% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 1,017 shares of the information technology service provider’s stock valued at $47,000 after acquiring an additional 964 shares in the last quarter. Pathstone Family Office LLC raised its holdings in shares of Cognizant Technology Solutions by 246.9% during the first quarter. Pathstone Family Office LLC now owns 1,561 shares of the information technology service provider’s stock worth $73,000 after acquiring an additional 1,111 shares in the last quarter. Cornerstone Advisors Inc. boosted its position in Cognizant Technology Solutions by 20.5% during the first quarter. Cornerstone Advisors Inc. now owns 1,638 shares of the information technology service provider’s stock valued at $76,000 after purchasing an additional 279 shares during the last quarter. Maverick Capital Ltd. purchased a new position in Cognizant Technology Solutions in the first quarter valued at about $100,000. Finally, West Bancorporation Inc. increased its position in Cognizant Technology Solutions by 12.3% in the 2nd quarter. West Bancorporation Inc. now owns 1,809 shares of the information technology service provider’s stock worth $103,000 after purchasing an additional 198 shares during the last quarter. 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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