UBS Group Has Lowered Expectations for Cognizant Technology Solutions (NASDAQ:CTSH) Stock Price

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target decreased by UBS Group from $93.00 to $88.00 in a report published on Monday,Benzinga reports. UBS Group currently has a neutral rating on the information technology service provider’s stock.

Other research analysts have also issued research reports about the stock. StockNews.com upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, February 6th. Morgan Stanley lowered 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 research note on Wednesday, March 12th. Barclays raised their price objective on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, BMO Capital Markets raised their price objective on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $83.50.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $80.02 on Monday. The firm’s 50 day moving average is $82.46 and its two-hundred day moving average is $79.44. Cognizant Technology Solutions has a 52 week low of $63.79 and a 52 week high of $90.82. The firm has a market capitalization of $39.58 billion, a P/E ratio of 17.74, a PEG ratio of 2.11 and a beta of 1.12. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 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%. Analysts anticipate that Cognizant Technology Solutions will post 4.98 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.31 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.55%. This is a positive change from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 27.49%.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Cognizant Technology Solutions by 257.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 164,857 shares of the information technology service provider’s stock valued at $12,678,000 after buying an additional 118,723 shares during the period. NorthCrest Asset Manangement LLC boosted its stake in shares of Cognizant Technology Solutions by 3.5% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 103,765 shares of the information technology service provider’s stock valued at $7,980,000 after buying an additional 3,484 shares during the period. Siemens Fonds Invest GmbH boosted its stake in shares of Cognizant Technology Solutions by 37.0% during the 4th quarter. Siemens Fonds Invest GmbH now owns 22,886 shares of the information technology service provider’s stock valued at $1,760,000 after buying an additional 6,184 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at $36,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Cognizant Technology Solutions during the 4th quarter valued at $33,579,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

About Cognizant Technology Solutions

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.