Posted by Defense World Staff on Jun 22nd, 2024 
Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Free Report)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $65.81, but opened at $67.56. Cognizant Technology Solutions shares last traded at $66.82, with a volume of 270,265 shares changing hands.
Several equities analysts recently commented on CTSH shares. Susquehanna dropped their target price on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. cut their price objective on Cognizant Technology Solutions from $81.00 to $74.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Citigroup reduced their target price on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Evercore ISI increased their target price on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Finally, Mizuho reissued a “neutral” rating and set a $82.00 price target on shares of Cognizant Technology Solutions in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $75.67.
Read Our Latest Research Report on Cognizant Technology Solutions
The stock has a market capitalization of $33.98 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. The company has a fifty day moving average of $67.07 and a two-hundred day moving average of $72.42. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.35 and a quick ratio of 2.35.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last released its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $4.72 billion. During the same quarter in the previous year, the firm earned $1.11 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Cognizant Technology Solutions Co. will post 4.61 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were paid a $0.30 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.20 dividend on an annualized basis and a yield of 1.76%. Cognizant Technology Solutions’s payout ratio is currently 28.85%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. IFG Advisory LLC increased its position in Cognizant Technology Solutions by 45.1% in the fourth quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock worth $5,070,000 after buying an additional 20,874 shares during the period. Qube Research & Technologies Ltd boosted its stake in Cognizant Technology Solutions by 36.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,227,411 shares of the information technology service provider’s stock valued at $83,145,000 after purchasing an additional 324,638 shares during the period. Vanguard Group Inc. grew its position in Cognizant Technology Solutions by 17.0% in the 4th quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after purchasing an additional 7,445,089 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Cognizant Technology Solutions by 7.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 532,677 shares of the information technology service provider’s stock valued at $39,242,000 after purchasing an additional 38,526 shares during the period. Finally, Merit Financial Group LLC raised its holdings in shares of Cognizant Technology Solutions by 16.8% during the fourth quarter. Merit Financial Group LLC now owns 3,523 shares of the information technology service provider’s stock valued at $266,000 after buying an additional 508 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.
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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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