Cowen Reaffirms Buy Rating for Cognizant Technology Solutions (CTSH)

Cowen restated their buy rating on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a report issued on Thursday. Cowen currently has a $90.00 price target on the information technology service provider’s stock.

Several other research analysts also recently commented on the stock. BMO Capital Markets raised their price target on shares of Cognizant Technology Solutions from $78.00 to $86.00 and gave the stock an outperform rating in a research note on Thursday. Needham & Company LLC raised their price target on shares of Cognizant Technology Solutions from $90.00 to $100.00 and gave the stock a strong-buy rating in a research note on Thursday. Pivotal Research reaffirmed a buy rating and issued a $93.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, February 7th. SunTrust Banks reaffirmed a buy rating and issued a $90.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, February 7th. Finally, Morgan Stanley raised their price target on shares of Cognizant Technology Solutions from $77.00 to $84.00 and gave the stock an equal weight rating in a research note on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $84.21.

Cognizant Technology Solutions (NASDAQ CTSH) opened at $76.29 on Thursday. The company has a market cap of $44,980.00, a PE ratio of 30.27, a P/E/G ratio of 1.54 and a beta of 1.11. Cognizant Technology Solutions has a 12 month low of $57.00 and a 12 month high of $79.28. The company has a quick ratio of 3.29, a current ratio of 3.21 and a debt-to-equity ratio of 0.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.15. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.82 billion. Cognizant Technology Solutions had a negative net margin of 0.50% and a negative return on equity of 0.67%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 EPS. analysts forecast that Cognizant Technology Solutions will post 3.97 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Thursday, February 22nd will be issued a $0.20 dividend. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, February 21st. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 23.81%.

In other news, CEO Francisco Dsouza sold 482,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $72.04, for a total value of $34,723,280.00. Following the sale, the chief executive officer now directly owns 621,643 shares in the company, valued at approximately $44,783,161.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sumithra Gomatam sold 2,625 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $76.00, for a total transaction of $199,500.00. Following the completion of the sale, the insider now owns 40,979 shares in the company, valued at $3,114,404. The disclosure for this sale can be found here. Insiders sold a total of 994,079 shares of company stock worth $73,129,749 over the last 90 days. Company insiders own 1.08% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. boosted its holdings in shares of Cognizant Technology Solutions by 108.8% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock valued at $107,000 after buying an additional 788 shares in the last quarter. Vestpro Financial Partners Inc. dba CPF Texas bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $107,000. Bank of Nova Scotia Trust Co. bought a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at about $121,000. Cerebellum GP LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $128,000. Finally, WFG Advisors LP boosted its holdings in shares of Cognizant Technology Solutions by 46.4% in the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after buying an additional 621 shares in the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.

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Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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