BMO Capital Markets Cuts Cognizant Technology Solutions (NASDAQ:CTSH) Price Target to $86.00

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Cognizant Technology Solutions (NASDAQ:CTSH) had its price target decreased by BMO Capital Markets from $88.00 to $86.00 in a research report report published on Thursday, April 25th, BenzingaRatingsTable reports. BMO Capital Markets currently has an outperform rating on the information technology service provider’s stock.

Several other research firms have also recently issued reports on CTSH. KeyCorp raised their target price 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. Wells Fargo & Co cut Cognizant Technology Solutions from an outperform rating to a market perform rating and cut their price objective for the company from $82.00 to $75.00 in a research report on Tuesday, April 16th. Zacks Investment Research raised Cognizant Technology Solutions from a hold rating to a buy rating and set a $83.00 price objective on the stock in a research report on Monday, April 8th. Daiwa Capital Markets assumed coverage on Cognizant Technology Solutions in a research report on Wednesday, February 13th. They set a buy rating and a $90.00 price objective on the stock. Finally, BidaskClub cut Cognizant Technology Solutions from a buy rating to a hold rating in a research report on Saturday, February 23rd. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Cognizant Technology Solutions has a consensus rating of Hold and a consensus price target of $75.55.

NASDAQ CTSH opened at $59.44 on Thursday. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $33.84 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 1.48 and a beta of 0.95. Cognizant Technology Solutions has a 1 year low of $56.73 and a 1 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 the Thomson Reuters’ consensus estimate of $1.03 by ($0.12). The business had revenue of $4.11 billion during the quarter, compared to the consensus estimate of $4.16 billion. Cognizant Technology Solutions had a return on equity of 21.50% and a net margin of 12.39%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 earnings per share. As a group, analysts anticipate that Cognizant Technology Solutions will post 3.91 EPS for the current fiscal year.

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

In other news, COO Srinivasan Veeraraghavachary sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $74.00, for a total value of $148,000.00. Following the sale, the chief operating officer now directly owns 38,992 shares of the company’s stock, valued at approximately $2,885,408. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Allen Shaheen sold 396 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $73.80, for a total value of $29,224.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,477 shares of company stock worth $3,201,495. Insiders own 0.56% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in CTSH. Acima Private Wealth LLC purchased a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $29,000. Sontag Advisory LLC purchased a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $30,000. Premia Global Advisors LLC purchased a new position in Cognizant Technology Solutions in the 1st quarter worth approximately $31,000. Somerset Trust Co raised its holdings in Cognizant Technology Solutions by 152.0% in the 1st quarter. Somerset Trust Co now owns 494 shares of the information technology service provider’s stock worth $36,000 after acquiring an additional 298 shares during the last quarter. Finally, Resources Investment Advisors Inc. raised its holdings in Cognizant Technology Solutions by 125.6% in the 1st quarter. Resources Investment Advisors Inc. now owns 503 shares of the information technology service provider’s stock worth $36,000 after acquiring an additional 280 shares during the last quarter. Institutional investors own 88.67% of the company’s stock.

About Cognizant Technology Solutions

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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Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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