Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Raised to $78.00 at Robert W. Baird

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target boosted by Robert W. Baird from $75.00 to $78.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the information technology service provider’s stock.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group initiated coverage on Cognizant Technology Solutions in a research report on Monday, June 24th. They issued a neutral rating and a $72.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a neutral rating for the company in a research note on Thursday, May 2nd. BMO Capital Markets reduced their price objective on 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. Wedbush restated an outperform rating and set a $85.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, May 2nd. Finally, StockNews.com downgraded shares of Cognizant Technology Solutions from a buy rating to a hold rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of Hold and an average target price of $76.12.

Cognizant Technology Solutions Stock Down 2.3 %

NASDAQ:CTSH traded down $1.69 during trading hours on Thursday, reaching $72.31. The company’s stock had a trading volume of 2,285,994 shares, compared to its average volume of 4,139,978. Cognizant Technology Solutions has a one year low of $62.14 and a one year high of $80.27. The business’s 50-day moving average is $69.35 and its 200-day moving average is $71.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.35. The company has a market cap of $35.95 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 2.26 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. During the same period last year, the business earned $1.10 EPS. The firm’s revenue was down .7% compared to the same quarter last year. Equities research analysts predict that Cognizant Technology Solutions will post 4.65 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Tuesday, August 20th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.66%. The ex-dividend date is Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio is 28.85%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. 1620 Investment Advisors Inc. bought a new stake in Cognizant Technology Solutions during the 2nd quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $26,000. LRI Investments LLC bought a new stake in shares of Cognizant Technology Solutions in the first quarter valued at about $28,000. Spire Wealth Management boosted its position in shares of Cognizant Technology Solutions by 79.1% during the fourth quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after buying an additional 193 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at approximately $40,000. Institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Company Profile

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.