Robert W. Baird reissued their buy rating on shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in a research note released on Sunday morning. They currently have a $80.00 price objective on the information technology service provider’s stock.

A number of other equities analysts also recently commented on CTSH. Deutsche Bank AG restated a buy rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, May 31st. Cantor Fitzgerald restated a buy rating and issued a $67.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Monday, May 15th. Needham & Company LLC raised their price objective on Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the stock a buy rating in a report on Monday, May 15th. Credit Suisse Group set a $80.00 price objective on Cognizant Technology Solutions Corporation and gave the stock a buy rating in a report on Friday, August 4th. They noted that the move was a valuation call. Finally, Loop Capital upgraded Cognizant Technology Solutions Corporation from a hold rating to a buy rating and raised their price objective for the stock from $63.00 to $83.00 in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $71.43.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 72.84 on Friday. The firm’s 50-day moving average is $70.32 and its 200 day moving average is $64.87. Cognizant Technology Solutions Corporation has a one year low of $45.44 and a one year high of $73.00. The stock has a market cap of $43.02 billion, a P/E ratio of 23.37 and a beta of 1.14.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the business posted $0.87 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd were paid a dividend of $0.15 per share. The ex-dividend date was Friday, August 18th. This represents a $0.60 dividend on an annualized basis and a yield of 0.82%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 19.17%.

In other news, EVP Allen Shaheen sold 442 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $70.58, for a total value of $31,196.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Rajeev Mehta sold 32,000 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $71.02, for a total value of $2,272,640.00. Following the completion of the transaction, the president now owns 187,965 shares of the company’s stock, valued at approximately $13,349,274.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 163,330 shares of company stock valued at $11,517,429. 1.08% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Intl Fcstone Inc. acquired a new position in shares of Cognizant Technology Solutions Corporation in the 2nd quarter worth approximately $250,000. Gs Investments Inc. acquired a new position in shares of Cognizant Technology Solutions Corporation in the 2nd quarter worth approximately $2,337,000. Lord Abbett & CO. LLC acquired a new position in shares of Cognizant Technology Solutions Corporation in the 2nd quarter worth approximately $2,390,000. WFG Advisors LP grew its position in shares of Cognizant Technology Solutions Corporation by 46.4% in the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after acquiring an additional 621 shares in the last quarter. Finally, Toronto Dominion Bank grew its position in shares of Cognizant Technology Solutions Corporation by 21.0% in the 2nd quarter. Toronto Dominion Bank now owns 204,966 shares of the information technology service provider’s stock worth $13,608,000 after acquiring an additional 35,518 shares in the last quarter. Institutional investors own 87.64% of the company’s stock.

About Cognizant Technology Solutions Corporation

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 Corporation (NASDAQ:CTSH)

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