Cognizant Technology Solutions (NASDAQ:CTSH) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Cognizant Technology Solutions (NASDAQ:CTSHFree Report) in a research report released on Monday morning, Benzinga reports.

A number of other equities analysts have also recently commented on CTSH. BMO Capital Markets reduced their price objective on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a market perform rating for the company in a research report on Tuesday, April 30th. Barclays reduced their target price on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an equal weight rating for the company in a research report on Friday, April 26th. Evercore ISI boosted their target price on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an in-line rating in a research report on Tuesday, March 26th. Guggenheim began coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, March 19th. They issued a neutral rating and a $80.00 target price for the company. Finally, StockNews.com cut shares of Cognizant Technology Solutions from a buy rating to a hold rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Cognizant Technology Solutions presently has a consensus rating of Hold and a consensus price target of $75.67.

Check Out Our Latest Stock Report on CTSH

Cognizant Technology Solutions Trading Down 2.5 %

CTSH stock opened at $64.61 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35. The company has a fifty day moving average price of $67.58 and a two-hundred day moving average price of $72.61. Cognizant Technology Solutions has a one year low of $61.23 and a one year high of $80.09. The stock has a market cap of $32.12 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 2.01 and a beta of 1.04.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.72 billion. During the same period in the previous year, the business posted $1.11 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts anticipate that Cognizant Technology Solutions will post 4.6 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Friday, May 17th. Cognizant Technology Solutions’s payout ratio is 28.85%.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Cognizant Technology Solutions by 13.6% during the first quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after purchasing an additional 6,933,908 shares during the period. JPMorgan Chase & Co. raised its position in shares of Cognizant Technology Solutions by 32.8% during the third quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock worth $1,196,547,000 after purchasing an additional 4,365,493 shares during the period. Boston Partners raised its position in shares of Cognizant Technology Solutions by 1.3% during the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock worth $569,175,000 after purchasing an additional 101,078 shares during the period. Northern Trust Corp raised its position in Cognizant Technology Solutions by 5.0% in the 3rd quarter. Northern Trust Corp now owns 6,177,547 shares of the information technology service provider’s stock valued at $418,467,000 after buying an additional 294,415 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Cognizant Technology Solutions by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,433,474 shares of the information technology service provider’s stock valued at $410,406,000 after buying an additional 238,551 shares during the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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