A number of other analysts have also commented on CTSH. Zacks Investment Research lowered Cognizant Technology Solutions from a hold rating to a sell rating in a report on Wednesday, January 23rd. Sanford C. Bernstein raised Cognizant Technology Solutions from a market perform rating to an outperform rating and set a $80.00 target price for the company in a report on Friday, January 25th. BMO Capital Markets lifted their target price on Cognizant Technology Solutions to $80.00 and gave the stock a market perform rating in a report on Monday, February 4th. KeyCorp raised their price target on Cognizant Technology Solutions from $79.00 to $84.00 and gave the stock an overweight rating in a research note on Thursday, February 7th. Finally, Daiwa Capital Markets assumed coverage on Cognizant Technology Solutions in a research note on Wednesday, February 13th. They issued a buy rating and a $90.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $75.55.
CTSH stock opened at $61.87 on Thursday. The company has a market cap of $35.22 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.54 and a beta of 0.95. Cognizant Technology Solutions has a twelve month low of $56.73 and a twelve month high of $83.35. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.90 and a quick ratio of 2.90.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 22nd will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, May 21st. This represents a $0.80 annualized dividend and a yield of 1.29%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 19.90%.
In related news, COO Srinivasan Veeraraghavachary sold 2,000 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $74.00, for a total transaction of $148,000.00. Following the transaction, the chief operating officer now directly owns 38,992 shares in the company, valued at $2,885,408. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian Humphries bought 19,000 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average price of $61.09 per share, for a total transaction of $1,160,710.00. Following the completion of the transaction, the chief executive officer now directly owns 19,000 shares of the company’s stock, valued at approximately $1,160,710. The disclosure for this purchase can be found here. Insiders have sold 47,820 shares of company stock worth $3,402,075 over the last quarter. 0.56% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Premia Global Advisors LLC purchased a new position in shares of Cognizant Technology Solutions in the first quarter valued at about $31,000. Acima Private Wealth LLC purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at about $29,000. Sontag Advisory LLC purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at about $30,000. Somerset Trust Co lifted its position in shares of Cognizant Technology Solutions by 152.0% in the first quarter. Somerset Trust Co now owns 494 shares of the information technology service provider’s stock valued at $36,000 after acquiring an additional 298 shares in the last quarter. Finally, Resources Investment Advisors Inc. lifted its position in shares of Cognizant Technology Solutions by 125.6% in the first quarter. Resources Investment Advisors Inc. now owns 503 shares of the information technology service provider’s stock valued at $36,000 after acquiring an additional 280 shares in the last quarter. Institutional investors own 88.24% of the company’s stock.
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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