Pivotal Research started coverage on shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in a research report sent to investors on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $93.00 price objective on the information technology service provider’s stock.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC restated a buy rating and set a $78.00 price target (up previously from $72.00) on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Cognizant Technology Solutions Corporation from a hold rating to a buy rating and set a $80.00 price target for the company in a research report on Tuesday, August 8th. Berenberg Bank upgraded shares of Cognizant Technology Solutions Corporation from a hold rating to a buy rating and upped their price target for the stock from $65.00 to $85.00 in a research report on Tuesday, August 8th. BMO Capital Markets restated a buy rating and set a $76.00 price target (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, August 4th. Finally, Credit Suisse Group set a $80.00 price target on shares of Cognizant Technology Solutions Corporation and gave the stock a buy rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $81.19.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded up $0.32 during mid-day trading on Wednesday, hitting $74.26. 2,591,800 shares of the stock traded hands, compared to its average volume of 3,281,177. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. Cognizant Technology Solutions Corporation has a twelve month low of $51.35 and a twelve month high of $76.51. The stock has a market cap of $43,787.04, a price-to-earnings ratio of 22.17, a P/E/G ratio of 1.67 and a beta of 1.10.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions Corporation had a net margin of 13.42% and a return on equity of 18.94%. The business had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the company posted $0.86 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. research analysts expect that Cognizant Technology Solutions Corporation will post 3.35 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, November 20th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, November 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.81%. Cognizant Technology Solutions Corporation’s payout ratio is currently 18.52%.

In related news, President Rajeev Mehta sold 32,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $71.02, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the transaction, the insider now directly owns 360,856 shares of the company’s stock, valued at approximately $25,259,920. The disclosure for this sale can be found here. Insiders have sold a total of 269,880 shares of company stock valued at $19,423,948 in the last ninety days. 1.08% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Pathstone Family Office LLC boosted its position in shares of Cognizant Technology Solutions Corporation by 1,208.8% during the 2nd quarter. Pathstone Family Office LLC now owns 1,479 shares of the information technology service provider’s stock worth $2,485,000 after purchasing an additional 1,366 shares during the period. Acrospire Investment Management LLC boosted its position in shares of Cognizant Technology Solutions Corporation by 92.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after purchasing an additional 800 shares during the period. WFG Advisors LP boosted its position in shares of Cognizant Technology Solutions Corporation by 46.4% during the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after purchasing an additional 621 shares during the period. Krilogy Financial LLC purchased a new position in shares of Cognizant Technology Solutions Corporation during the 2nd quarter worth approximately $137,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in Cognizant Technology Solutions Corporation in the 3rd quarter valued at approximately $167,000. 87.42% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Corporation 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.

Analyst Recommendations for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

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