Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Free Report) declared a quarterly dividend on Wednesday, July 31st, Zacks reports. Stockholders of record on Tuesday, August 20th will be paid a dividend of 0.30 per share by the information technology service provider on Wednesday, August 28th. This represents a $1.20 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Tuesday, August 20th.
Cognizant Technology Solutions has raised its dividend payment by an average of 9.7% per year over the last three years. Cognizant Technology Solutions has a dividend payout ratio of 24.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cognizant Technology Solutions to earn $4.91 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 24.4%.
Cognizant Technology Solutions Trading Down 3.2 %
Shares of CTSH stock traded down $2.46 on Friday, hitting $73.85. The company had a trading volume of 1,121,983 shares, compared to its average volume of 4,132,277. Cognizant Technology Solutions has a twelve month low of $62.14 and a twelve month high of $80.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. The stock’s 50-day moving average is $69.24 and its two-hundred day moving average is $71.90. The firm has a market cap of $36.72 billion, a P/E ratio of 18.34, a P/E/G ratio of 2.26 and a beta of 1.05.
Wall Street Analyst Weigh In
CTSH has been the subject of a number of recent research reports. BMO Capital Markets dropped their target price 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. Susquehanna cut their target price on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Mizuho reaffirmed a “neutral” rating and issued a $82.00 target price on shares of Cognizant Technology Solutions in a research report on Tuesday, June 11th. Citigroup lowered their price objective on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and an average price target of $76.12.
Read Our Latest Report on CTSH
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.
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