Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Stock Has Average Price Target of $68.04 According to Analysts

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) have earned a consensus recommendation of “Hold” from the twenty-four brokerages that are presently covering the company, Marketbeat Ratings reports. Fourteen analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $68.17.

CTSH has been the topic of a number of recent analyst reports. Susquehanna set a $82.00 target price on shares of Cognizant Technology Solutions and gave the company a “positive” rating in a research note on Thursday, July 30th. Needham & Company LLC set a $78.00 price target on shares of Cognizant Technology Solutions in a report on Monday, October 26th. Guggenheim restated a “buy” rating and set a $80.00 price target (up from $65.00) on shares of Cognizant Technology Solutions in a report on Tuesday, October 27th. TD Cowen reiterated a “hold” rating and issued a $60.00 target price (up from $54.00) on shares of Cognizant Technology Solutions in a research report on Tuesday, October 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $70.00 price objective (up from $65.00) on shares of Cognizant Technology Solutions in a research report on Friday, September 18th.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $65.83 on Thursday. The firm has a market cap of $29.65 billion, a PE ratio of 11.38, a P/E/G ratio of 1.26 and a beta of 0.83. Cognizant Technology Solutions has a 1-year low of $37.08 and a 1-year high of $87.03. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.22 and a quick ratio of 2.22. The firm has a 50 day simple moving average of $62.36 and a 200-day simple moving average of $58.98.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Thursday, October 29th. The information technology service provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.03. Cognizant Technology Solutions had a net margin of 11.75% and a return on equity of 17.72%. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.64 billion. During the same quarter last year, the firm posted $1.39 earnings per share. Cognizant Technology Solutions’s revenue was up 4.6% on a year-over-year basis. On average, equities analysts expect that Cognizant Technology Solutions will post 5.79 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Investors of record on Friday, November 13th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, November 13th. Cognizant Technology Solutions’s dividend payout ratio is presently 24.09%.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of large investors have recently bought and sold shares of the business. Lido Advisors LLC bought a new position in shares of Cognizant Technology Solutions in the 3rd quarter valued at about $545,000. D Orazio & Associates Inc. boosted its stake in shares of Cognizant Technology Solutions by 26.1% during the 3rd quarter. D Orazio & Associates Inc. now owns 9,388 shares of the information technology service provider’s stock worth $539,000 after acquiring an additional 1,945 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $208,000. Fulcrum Asset Management LLP lifted its stake in shares of Cognizant Technology Solutions by 34,094.6% during the 3rd quarter. Fulcrum Asset Management LLP now owns 127,204 shares of the information technology service provider’s stock worth $7,230,000 after buying an additional 126,832 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Cognizant Technology Solutions by 6.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 26,367 shares of the information technology service provider’s stock worth $1,605,000 after purchasing an additional 1,658 shares during the period. 92.44% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation is a global information technology services and consulting company that helps organizations modernize their technology infrastructure, operations and customer experiences. The company serves businesses across industries including financial services, healthcare, life sciences, manufacturing, retail and communications.

Cognizant’s services include consulting, application development and modernization, cloud computing, data and artificial intelligence, digital engineering, cybersecurity and business process services.