Needham & Company LLC Reaffirms Hold Rating for Cognizant Technology Solutions (NASDAQ:CTSH)

Needham & Company LLC restated their hold rating on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a research report report published on Thursday, Benzinga reports.

Other equities research analysts have also issued reports about the stock. Mizuho initiated coverage on shares of Cognizant Technology Solutions in a report on Tuesday, January 30th. They issued a neutral rating and a $82.00 target price on the stock. Societe Generale reiterated a sell rating and set a $67.00 target price on shares of Cognizant Technology Solutions in a report on Friday, January 5th. Susquehanna restated a neutral rating and issued a $80.00 price target (down from $87.00) on shares of Cognizant Technology Solutions in a report on Monday, April 1st. Citigroup cut their price objective on Cognizant Technology Solutions from $90.00 to $82.00 and set a buy rating on the stock in a report on Monday, April 22nd. Finally, Barclays lowered their price objective on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an equal weight rating for the company in a research report on Friday, April 26th. 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 company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $75.67.

Cognizant Technology Solutions Trading Down 0.0 %

NASDAQ CTSH traded down $0.02 during trading hours on Thursday, hitting $66.25. The company’s stock had a trading volume of 7,399,746 shares, compared to its average volume of 3,943,487. The stock has a fifty day moving average of $72.31 and a 200 day moving average of $72.46. Cognizant Technology Solutions has a twelve month low of $60.26 and a twelve month high of $80.09. The firm has a market capitalization of $32.98 billion, a P/E ratio of 15.93, a PEG ratio of 1.51 and a beta of 1.08. The company has a quick ratio of 2.25, a current ratio of 2.35 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data 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 business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same period in the prior year, the business posted $1.11 earnings per share. Cognizant Technology Solutions’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts forecast that Cognizant Technology Solutions will post 4.6 earnings per share for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.85%.

Insider Transactions at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the transaction, the executive vice president now directly owns 8,312 shares of the company’s stock, valued at $640,522.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mediolanum International Funds Ltd bought a new position in Cognizant Technology Solutions during the first quarter worth about $1,252,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Cognizant Technology Solutions by 10.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 55,746 shares of the information technology service provider’s stock worth $4,086,000 after purchasing an additional 5,253 shares during the period. Central Pacific Bank Trust Division bought a new position in Cognizant Technology Solutions during the first quarter worth about $549,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Cognizant Technology Solutions by 20.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,827 shares of the information technology service provider’s stock worth $280,000 after purchasing an additional 648 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in Cognizant Technology Solutions by 5.5% during the first quarter. Daiwa Securities Group Inc. now owns 83,368 shares of the information technology service provider’s stock worth $6,110,000 after purchasing an additional 4,338 shares during the period. 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.