Barclays Cuts Cognizant Technology Solutions (NASDAQ:CTSH) Price Target to $75.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price trimmed by Barclays from $80.00 to $75.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the information technology service provider’s stock.

Several other brokerages also recently commented on CTSH. Evercore ISI upped their price target on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an in-line rating in a report on Tuesday, March 26th. Societe Generale reissued a sell rating and set a $67.00 price target on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. Wolfe Research upgraded Cognizant Technology Solutions from an underperform rating to a peer perform rating in a research report on Thursday, January 4th. Citigroup reduced their price target on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a buy rating on the stock in a research note on Monday, April 22nd. Finally, Susquehanna reaffirmed a neutral rating and set a $80.00 price target (down previously from $87.00) on shares of Cognizant Technology Solutions in a research note on Monday, April 1st. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Cognizant Technology Solutions has a consensus rating of Hold and a consensus price target of $76.13.

Cognizant Technology Solutions Trading Up 0.3 %

Shares of Cognizant Technology Solutions stock opened at $66.94 on Friday. The company’s fifty day simple moving average is $73.52 and its 200-day simple moving average is $72.50. Cognizant Technology Solutions has a 1-year low of $58.47 and a 1-year high of $80.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25. The stock has a market capitalization of $33.33 billion, a PE ratio of 15.94, a P/E/G ratio of 1.52 and a beta of 1.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.04 by $0.14. The business had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 earnings per share. As a group, equities analysts anticipate that Cognizant Technology Solutions will post 4.59 earnings per share for the current year.

Cognizant Technology Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Tuesday, February 20th were paid a $0.30 dividend. The ex-dividend date of this dividend was Friday, February 16th. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a yield of 1.79%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 28.57%.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of the sale, the executive vice president now owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at $26,000. NBC Securities Inc. purchased a new stake in Cognizant Technology Solutions in the third quarter valued at $27,000. Spire Wealth Management grew its position in Cognizant Technology Solutions by 79.1% during the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 193 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at about $40,000. Finally, Quarry LP purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth about $43,000. Institutional investors and hedge funds 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.