Cognizant Technology Solutions (CTSH) Given New $80.00 Price Target at BMO Capital Markets

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target hoisted by BMO Capital Markets to $80.00 in a report released on Monday, February 4th, The Fly reports. BMO Capital Markets currently has a market perform rating on the information technology service provider’s stock.

Several other research firms have also recently commented on CTSH. Morgan Stanley decreased their price target on shares of Cognizant Technology Solutions from $87.00 to $80.00 and set a hold rating on the stock in a research note on Wednesday, October 31st. BidaskClub raised shares of Cognizant Technology Solutions from a hold rating to a buy rating in a research note on Tuesday, January 22nd. Cowen cut shares of Cognizant Technology Solutions from an outperform rating to a market perform rating and set a $67.98 price target on the stock. in a research note on Sunday, December 2nd. Nomura raised shares of Cognizant Technology Solutions from a neutral rating to a buy rating and set a $79.00 price target on the stock in a research note on Wednesday, October 31st. Finally, Sanford C. Bernstein raised shares of Cognizant Technology Solutions from a market perform rating to an outperform rating and set a $80.00 price objective on the stock in a research note on Friday, January 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $81.19.

NASDAQ CTSH opened at $72.13 on Monday. The company has a market cap of $41.91 billion, a PE ratio of 17.94, a PEG ratio of 1.61 and a beta of 0.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.12 and a quick ratio of 3.24. Cognizant Technology Solutions has a 1-year low of $59.47 and a 1-year high of $85.10.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, February 6th. The information technology service provider reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.07. Cognizant Technology Solutions had a net margin of 13.03% and a return on equity of 22.15%. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. Cognizant Technology Solutions’s revenue was up 7.9% compared to the same quarter last year. Equities analysts predict that Cognizant Technology Solutions will post 4.46 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 28th. Investors of record on Thursday, February 21st were issued a dividend of $0.20 per share. The ex-dividend date was Wednesday, February 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.11%. Cognizant Technology Solutions’s payout ratio is 19.90%.

In other Cognizant Technology Solutions news, SVP Robert Telesmanic sold 3,477 shares of Cognizant Technology Solutions stock in a transaction on Friday, February 15th. The shares were sold at an average price of $73.41, for a total value of $255,246.57. Following the sale, the senior vice president now directly owns 10,284 shares in the company, valued at approximately $754,948.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Matthew W. Friedrich sold 449 shares of Cognizant Technology Solutions stock in a transaction on Friday, December 14th. The shares were sold at an average price of $68.30, for a total transaction of $30,666.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,486 shares of company stock worth $1,784,946. 0.60% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Oregon Public Employees Retirement Fund increased its stake in shares of Cognizant Technology Solutions by 6,171.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,052,309 shares of the information technology service provider’s stock worth $64,000 after purchasing an additional 3,987,693 shares during the last quarter. FMR LLC increased its stake in shares of Cognizant Technology Solutions by 39.0% during the 4th quarter. FMR LLC now owns 12,939,775 shares of the information technology service provider’s stock worth $821,416,000 after purchasing an additional 3,632,452 shares during the last quarter. BlackRock Inc. increased its stake in shares of Cognizant Technology Solutions by 4.4% during the 3rd quarter. BlackRock Inc. now owns 44,745,894 shares of the information technology service provider’s stock worth $3,452,146,000 after purchasing an additional 1,900,423 shares during the last quarter. Commonwealth Bank of Australia increased its stake in shares of Cognizant Technology Solutions by 1,273.4% during the 3rd quarter. Commonwealth Bank of Australia now owns 2,009,285 shares of the information technology service provider’s stock worth $154,871,000 after purchasing an additional 1,862,983 shares during the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of Cognizant Technology Solutions by 2,915.5% during the 4th quarter. Two Sigma Advisers LP now owns 1,627,367 shares of the information technology service provider’s stock worth $103,305,000 after purchasing an additional 1,573,400 shares during the last quarter. Hedge funds and other institutional investors own 85.47% 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 worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

Featured Story: What are the benefits of momentum investing?

The Fly

Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.