Cognizant Technology Solutions (NASDAQ:CTSH) Upgraded to Overweight at Barclays

Barclays upgraded shares of Cognizant Technology Solutions (NASDAQ:CTSH) from an equal weight rating to an overweight rating in a research note issued to investors on Tuesday, MarketBeat reports. The firm currently has $95.00 price target on the information technology service provider’s stock, up from their previous price target of $80.00.

Several other brokerages have also issued reports on CTSH. Mizuho lifted their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Jefferies Financial Group assumed coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price target on the stock. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus target price of $80.35.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $81.03 on Tuesday. The company has a market capitalization of $40.18 billion, a PE ratio of 17.93, a PEG ratio of 2.24 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The company’s 50 day moving average price is $78.44 and its 200 day moving average price is $74.85. Cognizant Technology Solutions has a 52 week low of $63.79 and a 52 week high of $82.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the previous year, the company posted $1.16 EPS. Cognizant Technology Solutions’s revenue was up 3.0% on a year-over-year basis. Research analysts expect that Cognizant Technology Solutions will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.48%. Cognizant Technology Solutions’s dividend payout ratio is 26.55%.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the sale, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Cognizant Technology Solutions

Hedge funds have recently modified their holdings of the stock. Addison Advisors LLC lifted its holdings in Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after buying an additional 189 shares in the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Cognizant Technology Solutions during the second quarter worth $25,000. Ashton Thomas Securities LLC acquired a new position in shares of Cognizant Technology Solutions during the third quarter valued at $30,000. Pinnacle Bancorp Inc. boosted its holdings in Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after acquiring an additional 146 shares during the last quarter. Finally, Eastern Bank acquired a new stake in Cognizant Technology Solutions in the third quarter worth about $37,000. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Company Profile

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.