Cognizant Technology Solutions (NASDAQ:CTSH) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Other equities analysts also recently issued research reports about the company. Bank of America upgraded Cognizant Technology Solutions from an underperform rating to a neutral rating and upped their target price for the company from $73.00 to $75.00 in a report on Wednesday, August 7th. Needham & Company LLC reissued a hold rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. Daiwa America raised shares of Cognizant Technology Solutions to a hold rating in a research note on Tuesday, August 27th. Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a buy rating and a $90.00 price objective for the company. Finally, The Goldman Sachs Group reaffirmed a neutral rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $77.44.

Cognizant Technology Solutions Stock Up 0.8 %

Shares of NASDAQ:CTSH opened at $77.38 on Tuesday. The firm has a 50 day simple moving average of $76.15 and a 200 day simple moving average of $71.54. Cognizant Technology Solutions has a 52 week low of $62.14 and a 52 week high of $80.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. The company has a market cap of $38.47 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 earnings per share. As a group, research analysts expect that Cognizant Technology Solutions will post 4.62 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Tuesday, August 20th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 20th. This represents a $1.20 annualized dividend and a yield of 1.55%. Cognizant Technology Solutions’s payout ratio is 28.85%.

Insiders Place Their Bets

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the sale, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several hedge funds have recently made changes to their positions in CTSH. Pinnacle Bancorp Inc. raised its stake in shares of Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after purchasing an additional 146 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of Cognizant Technology Solutions by 42.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after buying an additional 158 shares in the last quarter. Unison Advisors LLC lifted its holdings in shares of Cognizant Technology Solutions by 0.6% during the 1st quarter. Unison Advisors LLC now owns 29,226 shares of the information technology service provider’s stock worth $2,142,000 after acquiring an additional 172 shares during the period. Choate Investment Advisors boosted its position in shares of Cognizant Technology Solutions by 0.4% during the 1st quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider’s stock valued at $3,558,000 after acquiring an additional 180 shares in the last quarter. Finally, Lederer & Associates Investment Counsel CA increased its stake in Cognizant Technology Solutions by 1.5% in the first quarter. Lederer & Associates Investment Counsel CA now owns 12,917 shares of the information technology service provider’s stock valued at $947,000 after acquiring an additional 190 shares during the period. Institutional investors own 92.44% 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 in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.