Cognizant Technology Solutions (NASDAQ:CTSH) PT Lowered to $75.00 at Barclays

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target lowered by Barclays from $80.00 to $75.00 in a research note released on Friday, Benzinga reports. Barclays currently has an equal weight rating on the information technology service provider’s stock.

A number of other equities research analysts also recently commented on the company. Wolfe Research raised Cognizant Technology Solutions from an underperform rating to a peer perform rating in a report on Thursday, January 4th. Mizuho initiated coverage on shares of Cognizant Technology Solutions in a report on Tuesday, January 30th. They issued a neutral rating and a $82.00 price objective on the stock. Guggenheim started coverage on shares of Cognizant Technology Solutions in a report on Tuesday, March 19th. They set a neutral rating and a $80.00 target price for the company. Citigroup lowered their price target on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a buy rating on the stock in a report on Monday, April 22nd. Finally, Jefferies Financial Group upgraded Cognizant Technology Solutions from a hold rating to a buy rating and lifted their price objective for the company from $70.00 to $85.00 in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Cognizant Technology Solutions has an average rating of Hold and a consensus price target of $76.13.

Cognizant Technology Solutions Stock Performance

CTSH opened at $66.53 on Friday. The firm’s 50-day moving average price is $73.31 and its 200-day moving average price is $72.56. The company has a market cap of $33.12 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 1.53 and a beta of 1.06. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions has a 52-week low of $58.47 and a 52-week high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.04 by $0.14. The business had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.76 billion. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 earnings per share. As a group, equities analysts anticipate that Cognizant Technology Solutions will post 4.59 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.30 per share. The ex-dividend date was Friday, February 16th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a yield of 1.80%. Cognizant Technology Solutions’s dividend payout ratio is currently 28.57%.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now owns 8,312 shares in the company, valued at approximately $640,522.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Cognizant Technology Solutions

Several large investors have recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $26,000. NBC Securities Inc. acquired a new position in Cognizant Technology Solutions during the third quarter worth $27,000. Spire Wealth Management grew its holdings in Cognizant Technology Solutions by 79.1% in the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after buying an additional 193 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth $40,000. Finally, Quarry LP purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter worth $43,000. Hedge funds and other institutional investors own 92.44% 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 in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.