Cognizant Technology Solutions (CTSH) Receives New Coverage from Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The brokerage issued a hold rating and a $70.00 price objective on the information technology service provider’s stock. Jefferies Financial Group also issued estimates for Cognizant Technology Solutions’ Q4 2018 earnings at $1.02 EPS, FY2018 earnings at $4.22 EPS, Q1 2019 earnings at $1.13 EPS, Q2 2019 earnings at $1.15 EPS, Q3 2019 earnings at $1.18 EPS, Q4 2019 earnings at $1.20 EPS, FY2019 earnings at $4.64 EPS and FY2020 earnings at $5.22 EPS.

Several other research firms have also commented on CTSH. Morgan Stanley cut their price target on Cognizant Technology Solutions from $87.00 to $80.00 and set a hold rating on the stock in a research report on Wednesday, October 31st. Moffett Nathanson initiated coverage on Cognizant Technology Solutions in a research report on Thursday, October 4th. They set a neutral rating and a $85.00 price target on the stock. Cowen reaffirmed a buy rating and set a $87.00 price target on shares of Cognizant Technology Solutions in a research report on Friday, August 3rd. BMO Capital Markets reaffirmed a buy rating and set a $82.00 price target on shares of Cognizant Technology Solutions in a research report on Tuesday, October 30th. Finally, Bank of America lowered Cognizant Technology Solutions from a buy rating to an underperform rating and cut their price target for the stock from $91.00 to $81.00 in a research report on Tuesday, September 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $83.95.

CTSH opened at $67.98 on Tuesday. The company has a market cap of $39.76 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 1.40 and a beta of 0.96. Cognizant Technology Solutions has a 52 week low of $65.14 and a 52 week high of $85.10. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.13 by $0.06. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.08 billion. Cognizant Technology Solutions had a return on equity of 22.54% and a net margin of 9.07%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. Equities analysts predict that Cognizant Technology Solutions will post 4.18 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Tuesday, November 20th will be paid a $0.20 dividend. The ex-dividend date is Monday, November 19th. This represents a $0.80 annualized dividend and a dividend yield of 1.18%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 22.66%.

In related news, insider Sean Middleton sold 439 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $76.28, for a total value of $33,486.92. Following the sale, the insider now directly owns 5,135 shares in the company, valued at $391,697.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Robert Telesmanic sold 5,062 shares of Cognizant Technology Solutions stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $68.00, for a total value of $344,216.00. The disclosure for this sale can be found here. Insiders sold a total of 12,773 shares of company stock worth $929,282 over the last quarter. Company insiders own 0.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Eads & Heald Wealth Management boosted its stake in shares of Cognizant Technology Solutions by 2.2% in the second quarter. Eads & Heald Wealth Management now owns 30,916 shares of the information technology service provider’s stock valued at $2,442,000 after buying an additional 673 shares in the last quarter. Green Square Capital LLC boosted its position in Cognizant Technology Solutions by 5.3% during the second quarter. Green Square Capital LLC now owns 13,430 shares of the information technology service provider’s stock worth $1,061,000 after purchasing an additional 674 shares in the last quarter. GW Henssler & Associates Ltd. boosted its position in Cognizant Technology Solutions by 0.4% during the second quarter. GW Henssler & Associates Ltd. now owns 185,120 shares of the information technology service provider’s stock worth $14,623,000 after purchasing an additional 679 shares in the last quarter. Whittier Trust Co. boosted its position in Cognizant Technology Solutions by 20.8% during the third quarter. Whittier Trust Co. now owns 4,066 shares of the information technology service provider’s stock worth $313,000 after purchasing an additional 700 shares in the last quarter. Finally, Twin Capital Management Inc. boosted its position in Cognizant Technology Solutions by 0.7% during the second quarter. Twin Capital Management Inc. now owns 104,050 shares of the information technology service provider’s stock worth $8,219,000 after purchasing an additional 710 shares in the last quarter. Hedge funds and other institutional investors own 88.12% of the company’s stock.

About Cognizant Technology Solutions

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 business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

See Also: Depreciation

Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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