Cognizant Technology Solutions (NASDAQ:CTSH) Given New $51.00 Price Target at Citigroup

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price cut by Citigroup from $58.00 to $51.00 in a research note issued to investors on Friday, MarketBeat.com reports. They currently have a neutral rating on the information technology service provider’s stock.

CTSH has been the topic of several other reports. Evercore lowered their price objective on shares of Cognizant Technology Solutions from $100.00 to $70.00 in a research report on Thursday, April 30th. Wedbush lowered their price target on shares of Cognizant Technology Solutions from $61.00 to $56.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Jefferies Financial Group lowered their price target on shares of Cognizant Technology Solutions from $80.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, May 4th. BMO Capital Markets lowered their price target on shares of Cognizant Technology Solutions from $83.00 to $63.00 in a report on Thursday, April 30th. Finally, Royal Bank Of Canada boosted their price target on shares of Cognizant Technology Solutions from $82.00 to $88.00 and gave the company a “sector perform” rating in a report on Thursday, February 5th. Ten equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.00.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $47.13 on Friday. Cognizant Technology Solutions has a one year low of $45.48 and a one year high of $87.03. The stock has a fifty day moving average of $58.32 and a 200-day moving average of $70.49. The company has a market capitalization of $22.33 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 0.97 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.23 and a current ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, April 29th. The information technology service provider reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.07. Cognizant Technology Solutions had a return on equity of 17.50% and a net margin of 10.41%.The company had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.41 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. As a group, equities analysts anticipate that Cognizant Technology Solutions will post 5.7 EPS for the current fiscal year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Monday, May 18th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. Cognizant Technology Solutions’s dividend payout ratio is currently 28.70%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Brighton Jones LLC bought a new stake in Cognizant Technology Solutions in the fourth quarter valued at about $214,000. Geneos Wealth Management Inc. increased its holdings in shares of Cognizant Technology Solutions by 118.8% during the first quarter. Geneos Wealth Management Inc. now owns 569 shares of the information technology service provider’s stock worth $44,000 after buying an additional 309 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Cognizant Technology Solutions in the first quarter valued at approximately $142,000. Cresset Asset Management LLC raised its stake in shares of Cognizant Technology Solutions by 11.4% in the second quarter. Cresset Asset Management LLC now owns 9,160 shares of the information technology service provider’s stock valued at $715,000 after acquiring an additional 935 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings in shares of Cognizant Technology Solutions by 231.4% in the 2nd quarter. Jump Financial LLC now owns 29,667 shares of the information technology service provider’s stock worth $2,315,000 after acquiring an additional 20,716 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

About Cognizant Technology Solutions

Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.