Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Declares Quarterly Dividend of $0.33

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) declared a quarterly dividend on Thursday, October 29th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.33 per share by the information technology service provider on Wednesday, November 25th. This represents a $1.32 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, November 13th.

Cognizant Technology Solutions has increased its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Cognizant Technology Solutions has a dividend payout ratio of 24.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cognizant Technology Solutions to earn $6.33 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 20.9%.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock traded down $3.84 on Thursday, reaching $62.52. 7,982,588 shares of the stock were exchanged, compared to its average volume of 7,964,613. The firm’s 50 day moving average is $62.09 and its 200-day moving average is $59.50. Cognizant Technology Solutions has a one year low of $37.08 and a one year high of $87.03. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.18 and a current ratio of 2.18. The firm has a market cap of $28.16 billion, a PE ratio of 13.45, a P/E/G ratio of 1.32 and a beta of 0.86.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Thursday, October 29th. The information technology service provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.03. Cognizant Technology Solutions had a net margin of 10.26% and a return on equity of 17.70%. The business had revenue of $5.66 billion for the quarter, compared to analysts’ expectations of $5.64 billion. During the same period last year, the firm posted $1.39 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, analysts anticipate that Cognizant Technology Solutions will post 5.74 EPS for the current fiscal year.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation is a global information technology services and consulting company that helps organizations modernize their technology infrastructure, operations and customer experiences. The company serves businesses across industries including financial services, healthcare, life sciences, manufacturing, retail and communications.

Cognizant’s services include consulting, application development and modernization, cloud computing, data and artificial intelligence, digital engineering, cybersecurity and business process services.