Cognizant Technology Solutions Inc. (NASDAQ:CTSH – Get Free Report ) shares surged in pre-market trading on Thursday. The stock opened at $67.56 after closing at $65.81 the previous day. Cognizant Technology Solutions shares last traded at $66.82 with trading volume of 270,265 shares.
What Wall Street analysts are saying
Several equities analysts have recently commented on CTSH shares. Susquehanna lowered their price target on Cognizant Technology Solutions from $80.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price target on Cognizant Technology Solutions from $81.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Citigroup lowered their price target on Cognizant Technology Solutions from $90.00 to $82.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Evercore ISI boosted their price target on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Finally, Mizuho reaffirmed a “neutral” rating and set a $82.00 price target on shares of Cognizant Technology Solutions in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, fourteen have rated it with a hold rating, and three have rated it with a buy rating. According to MarketBeat data, the stock currently has an average rating of “hold” and an average target price of $75.67.
Read the latest research report on Cognizant Technology Solutions
Cognizant Technology Solutions Stock Performance
The stock has a market capitalization of $33.98 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. The company’s 50-day moving average is $67.07 and its 200-day moving average is $72.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report ) announced its latest earnings results on Wednesday, May 1st. The information technology services provider reported quarterly earnings per share of $1.12, beating the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The company’s quarterly revenue was $4.76 billion, beating analyst expectations of $4.72 billion. In the same quarter last year, the company’s earnings per share were $1.11. The company’s quarterly revenue was down 1.1% year-over-year. On average, equities analysts expect Cognizant Technology Solutions, Inc. to post earnings per share of $4.61 for the current year.
Cognizant Technology Solutions Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were paid a $0.30 dividend. The ex-dividend date was Friday, May 17th. This equates to a $1.20 dividend on an annualized basis, or a yield of 1.76%. Cognizant Technology Solutions’ dividend payout ratio is currently 28.85%.
Cognizant Technology Solutions Institutional Trading
Institutional investors and hedge funds recently modified their holdings of this stock. IFG Advisory LLC increased its holdings in Cognizant Technology Solutions by 45.1% in the fourth quarter. IFG Advisory LLC now holds 67,119 shares of the information technology services provider’s stock, valued at $5,070,000, after purchasing an additional 20,874 shares during the period. Qube Research & Technologies Ltd increased its holdings in Cognizant Technology Solutions by 36.0% in the third quarter. Qube Research & Technologies Ltd now holds 1,227,411 shares of the information technology services provider’s stock, valued at $83,145,000, after purchasing an additional 324,638 shares during the period. Vanguard Group Inc. increased its holdings in Cognizant Technology Solutions by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology services provider’s stock valued at $3,860,483,000 after purchasing an additional 7,445,089 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Cognizant Technology Solutions by 7.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 532,677 shares of the information technology services provider’s stock valued at $39,242,000 after purchasing an additional 38,526 shares during the period. Finally, Merit Financial Group Inc. increased its holdings in shares of Cognizant Technology Solutions by 16.8% in the fourth quarter. Merit Financial Group now owns 3,523 shares of the information technology services provider’s stock valued at $266,000 after purchasing an additional 508 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.
About Cognizant Technology Solutions
(Get your free report)
Cognizant Technology Solutions Corporation is a professional services company providing consulting, technology and outsourcing services throughout North America, Europe and internationally. The company operates through four segments: Financial Services, Health Sciences, Products & Resources, and Communications, Media & Technology.
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