Pivotal Research reaffirmed their buy rating on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a report issued on Wednesday. Pivotal Research currently has a $93.00 price objective on the information technology service provider’s stock.

“We maintain our BUY rating. We keep our $93 PT, or 18x our 2019E of $5.15.”,” the firm’s analyst wrote.

Other analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a hold rating to a buy rating and set a $82.00 price target for the company in a report on Wednesday, January 10th. BidaskClub upgraded shares of Cognizant Technology Solutions from a sell rating to a hold rating in a report on Friday, January 19th. SunTrust Banks restated a buy rating and set a $90.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday. Barclays raised their price target on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an overweight rating in a report on Monday, October 30th. They noted that the move was a valuation call. Finally, BMO Capital Markets raised their price target on shares of Cognizant Technology Solutions from $76.00 to $78.00 and gave the stock an outperform rating in a report on Thursday, November 2nd. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $84.21.

Shares of Cognizant Technology Solutions (NASDAQ CTSH) opened at $76.29 on Wednesday. The company has a current ratio of 3.21, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07. The company has a market cap of $45,660.00, a P/E ratio of 30.27, a P/E/G ratio of 1.51 and a beta of 1.11. Cognizant Technology Solutions has a fifty-two week low of $56.29 and a fifty-two week high of $79.28.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.88 by $0.15. The business had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Cognizant Technology Solutions had a net margin of 10.15% and a return on equity of 19.94%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company posted $0.87 earnings per share. analysts anticipate that Cognizant Technology Solutions will post 3.94 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Thursday, February 22nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.05%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, February 21st. Cognizant Technology Solutions’s payout ratio is presently 23.81%.

In other news, CEO Francisco Dsouza sold 482,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $72.04, for a total value of $34,723,280.00. Following the completion of the sale, the chief executive officer now directly owns 621,643 shares in the company, valued at $44,783,161.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sean Middleton sold 1,278 shares of the business’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $71.36, for a total transaction of $91,198.08. Following the completion of the sale, the insider now owns 3,366 shares of the company’s stock, valued at $240,197.76. The disclosure for this sale can be found here. Insiders sold 996,790 shares of company stock valued at $73,331,177 over the last 90 days. 1.08% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Harding Loevner LP increased its position in Cognizant Technology Solutions by 2,085,162.4% during the third quarter. Harding Loevner LP now owns 3,544,946 shares of the information technology service provider’s stock worth $142,254,000 after acquiring an additional 3,544,776 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Cognizant Technology Solutions by 296.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,422,593 shares of the information technology service provider’s stock worth $314,093,000 after acquiring an additional 3,307,799 shares during the period. APG Asset Management N.V. increased its position in Cognizant Technology Solutions by 241.2% during the fourth quarter. APG Asset Management N.V. now owns 3,580,820 shares of the information technology service provider’s stock worth $211,784,000 after acquiring an additional 2,531,494 shares during the period. Genesis Asset Managers LLP increased its position in Cognizant Technology Solutions by 92.3% during the fourth quarter. Genesis Asset Managers LLP now owns 3,738,507 shares of the information technology service provider’s stock worth $265,509,000 after acquiring an additional 1,794,164 shares during the period. Finally, Comgest Global Investors S.A.S. increased its position in Cognizant Technology Solutions by 24.5% during the third quarter. Comgest Global Investors S.A.S. now owns 7,416,617 shares of the information technology service provider’s stock worth $538,001,000 after acquiring an additional 1,461,800 shares during the period. Institutional investors and hedge funds own 86.95% of the company’s stock.

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Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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