Cognizant Technology Solutions (NASDAQ:CTSH) Stock Price Up 4.5% – Here’s What Happened

Cognizant Technology Solutions Co. (NASDAQ:CTSH)’s share price traded up 4.5% during trading on Monday . The company traded as high as $86.99 and last traded at $86.94. 4,080,575 shares were traded during trading, an increase of 13% from the average session volume of 3,619,624 shares. The stock had previously closed at $83.23.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CTSH shares. UBS Group boosted their price target on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley dropped their price target on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Royal Bank of Canada lifted their price objective on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Barclays increased their price objective on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $83.39.

Cognizant Technology Solutions Price Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a market cap of $39.32 billion, a P/E ratio of 17.63, a PEG ratio of 2.11 and a beta of 1.12. The company’s 50-day moving average is $82.23 and its two-hundred day moving average is $79.38.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. Sell-side analysts anticipate that Cognizant Technology Solutions Co. will post 4.98 EPS for the current fiscal year.

Cognizant Technology Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.56%. This is a boost from Cognizant Technology Solutions’s previous quarterly dividend of $0.30. Cognizant Technology Solutions’s payout ratio is 27.49%.

Institutional Trading of Cognizant Technology Solutions

Several large investors have recently bought and sold shares of CTSH. Janney Montgomery Scott LLC bought a new position in shares of Cognizant Technology Solutions in the third quarter worth about $1,433,000. CWA Asset Management Group LLC acquired a new position in Cognizant Technology Solutions during the 3rd quarter worth approximately $524,000. Ashton Thomas Securities LLC bought a new position in Cognizant Technology Solutions in the 3rd quarter valued at approximately $30,000. Addison Advisors LLC lifted its stake in Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after purchasing an additional 189 shares during the last quarter. Finally, Versor Investments LP bought a new stake in shares of Cognizant Technology Solutions during the third quarter worth $334,000. 92.44% of the stock is owned by institutional investors and hedge funds.

About Cognizant Technology Solutions

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.