Cognizant Technology Solutions Corp (CTSH) Receives $85.43 Average Target Price from Analysts
Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) have been assigned a consensus rating of “Buy” from the thirty-one ratings firms that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and three have given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $85.43.
A number of brokerages recently issued reports on CTSH. BidaskClub upgraded shares of Cognizant Technology Solutions from a “buy” rating to a “strong-buy” rating in a research note on Friday. ValuEngine upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research note on Wednesday, January 10th. Argus upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and lifted their price target for the stock from $81.80 to $100.00 in a research note on Thursday, February 22nd. Finally, SunTrust Banks reiterated a “buy” rating and issued a $90.00 price target on shares of Cognizant Technology Solutions in a research note on Wednesday, February 7th.
Shares of Cognizant Technology Solutions (NASDAQ CTSH) traded up $1.49 during trading on Tuesday, reaching $84.71. 2,905,567 shares of the company were exchanged, compared to its average volume of 3,960,000. Cognizant Technology Solutions has a one year low of $57.50 and a one year high of $84.95. The company has a quick ratio of 3.21, a current ratio of 3.21 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $49,950.00, a P/E ratio of 23.79, a P/E/G ratio of 1.60 and a beta of 1.02.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Thursday, February 22nd were given a $0.20 dividend. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, February 21st. This represents a $0.80 annualized dividend and a yield of 0.94%. Cognizant Technology Solutions’s dividend payout ratio is 22.47%.
In related news, insider Venkat Krishnaswamy sold 4,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $77.50, for a total value of $310,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Nelson Fox, Jr. sold 19,500 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $72.00, for a total transaction of $1,404,000.00. Following the completion of the sale, the director now owns 55,090 shares of the company’s stock, valued at approximately $3,966,480. The disclosure for this sale can be found here. In the last quarter, insiders sold 646,336 shares of company stock valued at $49,270,540. 1.08% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in CTSH. Shine Investment Advisory Services Inc. increased its stake in Cognizant Technology Solutions by 108.8% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock valued at $107,000 after buying an additional 788 shares during the period. Vestpro Financial Partners Inc. dba CPF Texas acquired a new position in Cognizant Technology Solutions in the 4th quarter valued at $107,000. Clearbridge Investments LLC increased its stake in Cognizant Technology Solutions by 101.2% in the 4th quarter. Clearbridge Investments LLC now owns 1,616 shares of the information technology service provider’s stock valued at $115,000 after buying an additional 813 shares during the period. Bank of Nova Scotia Trust Co. acquired a new position in Cognizant Technology Solutions in the 3rd quarter valued at $121,000. Finally, Cerebellum GP LLC acquired a new position in Cognizant Technology Solutions in the 4th quarter valued at $128,000. 87.83% of the stock is currently owned by institutional investors.
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About Cognizant Technology Solutions
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.
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