Cognizant Technology Solutions (NASDAQ:CTSH – Free Report) had its target price boosted by Royal Bank of Canada from $82.00 to $93.00 in a research report report published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the information technology service provider’s stock.
Several other analysts have also commented on CTSH. UBS Group lifted their price target on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. BMO Capital Markets lifted their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research report on Thursday. Mizuho boosted their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Sixteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $83.22.
Read Our Latest Research Report on Cognizant Technology Solutions
Cognizant Technology Solutions Trading Up 4.2 %
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. On average, sell-side analysts anticipate that Cognizant Technology Solutions will post 4.66 EPS for the current fiscal year.
Cognizant Technology Solutions Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Tuesday, February 18th will be paid a $0.31 dividend. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Tuesday, February 18th. Cognizant Technology Solutions’s payout ratio is presently 26.55%.
Insider Activity
In related news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the transaction, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $3,126,052.42. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.
Hedge Funds Weigh In On Cognizant Technology Solutions
Several hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Cognizant Technology Solutions by 3.6% during the 3rd quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock valued at $1,928,405,000 after acquiring an additional 867,176 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Cognizant Technology Solutions by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,280,223 shares of the information technology service provider’s stock worth $1,022,728,000 after buying an additional 173,667 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Cognizant Technology Solutions by 3.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,348,102 shares of the information technology service provider’s stock worth $257,469,000 after buying an additional 103,371 shares in the last quarter. ING Groep NV lifted its holdings in Cognizant Technology Solutions by 17.9% in the 4th quarter. ING Groep NV now owns 2,921,900 shares of the information technology service provider’s stock worth $224,694,000 after buying an additional 443,536 shares in the last quarter. Finally, Cibc World Market Inc. lifted its holdings in Cognizant Technology Solutions by 34.0% in the 4th quarter. Cibc World Market Inc. now owns 2,784,668 shares of the information technology service provider’s stock worth $214,141,000 after buying an additional 705,946 shares in the last quarter. 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.
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