Cognizant Technology Solutions (CTSH) Reaches New 52-Week High at $81.93

Cognizant Technology Solutions Corp (NASDAQ:CTSH) hit a new 52-week high during trading on Tuesday . The stock traded as high as $81.93 and last traded at $80.95, with a volume of 4780700 shares traded. The stock had previously closed at $80.95.

Several equities research analysts have recently commented on CTSH shares. SunTrust Banks reissued a “buy” rating and set a $85.00 price target on shares of Cognizant Technology Solutions in a research note on Friday, November 3rd. Oppenheimer reissued a “buy” rating and set a $80.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, November 1st. Cantor Fitzgerald reissued a “buy” rating and set a $78.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, November 1st. Pivotal Research started coverage on Cognizant Technology Solutions in a research note on Wednesday, November 8th. They set a “buy” rating and a $93.00 price target on the stock. Finally, BMO Capital Markets reissued a “buy” rating and set a $78.00 price target on shares of Cognizant Technology Solutions in a research note on Tuesday, December 5th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $84.32.

The company has a current ratio of 3.21, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07. The stock has a market cap of $48,160.00, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 1.52 and a beta of 1.11.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.15. The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.82 billion. Cognizant Technology Solutions had a return on equity of 19.94% and a net margin of 10.15%. Cognizant Technology Solutions’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 EPS. equities research analysts anticipate that Cognizant Technology Solutions Corp will post 4.21 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 22nd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, February 21st. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a yield of 0.99%. Cognizant Technology Solutions’s payout ratio is 16.81%.

In other Cognizant Technology Solutions news, CEO Francisco Dsouza sold 240,000 shares of the business’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $74.04, for a total value of $17,769,600.00. Following the completion of the transaction, the chief executive officer now directly owns 541,667 shares in the company, valued at approximately $40,105,024.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Karen Mcloughlin sold 9,482 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $72.24, for a total value of $684,979.68. Following the completion of the transaction, the chief financial officer now owns 52,200 shares of the company’s stock, valued at $3,770,928. The disclosure for this sale can be found here. Insiders sold a total of 629,296 shares of company stock valued at $47,467,608 over the last quarter. 1.08% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Linscomb & Williams Inc. purchased a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at $278,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Cognizant Technology Solutions by 45.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 143,385 shares of the information technology service provider’s stock valued at $10,401,000 after buying an additional 44,982 shares during the period. Rothschild Asset Management Inc. purchased a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at $12,538,000. Tandem Investment Advisors Inc. grew its stake in shares of Cognizant Technology Solutions by 164.0% during the 4th quarter. Tandem Investment Advisors Inc. now owns 42,030 shares of the information technology service provider’s stock valued at $2,985,000 after buying an additional 26,111 shares during the period. Finally, AXA grew its stake in shares of Cognizant Technology Solutions by 11.3% during the 3rd quarter. AXA now owns 371,160 shares of the information technology service provider’s stock valued at $26,924,000 after buying an additional 37,600 shares during the period. 88.54% of the stock is owned by institutional investors.

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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.

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