Cognizant Technology Solutions (CTSH) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a report published on Friday morning, The Fly reports. Cantor Fitzgerald currently has a $75.00 target price on the information technology service provider’s stock, down from their previous target price of $87.00.

A number of other research analysts have also recently issued reports on CTSH. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a sell rating to a hold rating in a research note on Thursday, February 28th. Oppenheimer cut shares of Cognizant Technology Solutions from an outperform rating to a market perform rating in a research note on Friday. ValuEngine cut shares of Cognizant Technology Solutions from a hold rating to a sell rating in a research note on Friday. William Blair cut shares of Cognizant Technology Solutions from an outperform rating to a mkt perform rating in a research note on Friday. Finally, Goldman Sachs Group cut shares of Cognizant Technology Solutions from a buy rating to a neutral rating and cut their target price for the company from $84.00 to $64.00 in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $78.40.

CTSH traded down $7.36 during midday trading on Friday, reaching $59.25. 40,513,488 shares of the company’s stock were exchanged, compared to its average volume of 3,940,123. The stock has a market cap of $34.07 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 1.63 and a beta of 0.95. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.06. Cognizant Technology Solutions has a one year low of $57.70 and a one year high of $83.35.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Thursday, May 2nd. The information technology service provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.12). Cognizant Technology Solutions had a net margin of 13.03% and a return on equity of 22.15%. The firm had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter last year, the firm posted $0.94 EPS. The business’s revenue was up 5.1% on a year-over-year basis. Equities research analysts expect that Cognizant Technology Solutions will post 4.43 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 22nd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Tuesday, May 21st. Cognizant Technology Solutions’s dividend payout ratio is currently 19.90%.

In related news, EVP Allen Shaheen sold 396 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $73.80, for a total value of $29,224.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Rajeev Mehta sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $71.50, for a total transaction of $1,430,000.00. Following the completion of the sale, the president now directly owns 39,457 shares of the company’s stock, valued at approximately $2,821,175.50. The disclosure for this sale can be found here. In the last three months, insiders sold 49,162 shares of company stock valued at $3,542,788. 0.56% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in Cognizant Technology Solutions during the 4th quarter worth $366,248,000. Davis R M Inc. grew its holdings in Cognizant Technology Solutions by 7.2% during the 4th quarter. Davis R M Inc. now owns 343,102 shares of the information technology service provider’s stock worth $21,780,000 after acquiring an additional 22,923 shares during the period. Alpha Windward LLC grew its holdings in Cognizant Technology Solutions by 13.9% during the 4th quarter. Alpha Windward LLC now owns 2,099 shares of the information technology service provider’s stock worth $133,000 after acquiring an additional 256 shares during the period. Naples Global Advisors LLC grew its holdings in Cognizant Technology Solutions by 14.7% during the 4th quarter. Naples Global Advisors LLC now owns 11,950 shares of the information technology service provider’s stock worth $774,000 after acquiring an additional 1,535 shares during the period. Finally, LGT Capital Partners LTD. grew its holdings in Cognizant Technology Solutions by 5.3% during the 4th quarter. LGT Capital Partners LTD. now owns 282,791 shares of the information technology service provider’s stock worth $17,952,000 after acquiring an additional 14,166 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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The Fly

Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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