Cognizant Technology Solutions (NASDAQ:CTSH) Rating Increased to Hold at Mizuho

Mizuho upgraded shares of Cognizant Technology Solutions (NASDAQ:CTSH) to a hold rating in a report issued on Wednesday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets lifted their price objective on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, February 6th. Morgan Stanley cut their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. StockNews.com raised shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Finally, Barclays lifted their price objective on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Fifteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus target price of $83.71.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $76.42 on Wednesday. The company has a fifty day simple moving average of $82.66 and a 200 day simple moving average of $79.43. Cognizant Technology Solutions has a 12-month low of $63.79 and a 12-month high of $90.82. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06. The company has a market cap of $37.80 billion, a P/E ratio of 16.94, a PEG ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. Sell-side analysts predict that Cognizant Technology Solutions will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This is an increase from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.62%. Cognizant Technology Solutions’s dividend payout ratio is 27.49%.

Institutional Investors Weigh In On Cognizant Technology Solutions

Institutional investors have recently added to or reduced their stakes in the business. Unison Advisors LLC boosted its stake in shares of Cognizant Technology Solutions by 0.4% during the fourth quarter. Unison Advisors LLC now owns 29,595 shares of the information technology service provider’s stock valued at $2,276,000 after purchasing an additional 114 shares during the period. Congress Wealth Management LLC DE boosted its stake in shares of Cognizant Technology Solutions by 0.5% during the fourth quarter. Congress Wealth Management LLC DE now owns 24,965 shares of the information technology service provider’s stock valued at $1,920,000 after purchasing an additional 126 shares during the period. CoreCap Advisors LLC boosted its stake in shares of Cognizant Technology Solutions by 21.5% during the fourth quarter. CoreCap Advisors LLC now owns 711 shares of the information technology service provider’s stock valued at $55,000 after purchasing an additional 126 shares during the period. Sound View Wealth Advisors Group LLC lifted its stake in Cognizant Technology Solutions by 4.6% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 2,884 shares of the information technology service provider’s stock worth $222,000 after acquiring an additional 127 shares during the period. Finally, Graypoint LLC lifted its stake in Cognizant Technology Solutions by 2.9% in the fourth quarter. Graypoint LLC now owns 4,795 shares of the information technology service provider’s stock worth $369,000 after acquiring an additional 134 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.