Cognitive Technology Solutions Inc. The Zacks Report, (NASDAQ: CTSH – Get Rated) declared a quarterly dividend on Wednesday, Nov. 2. Shareholders of record on Friday, November 18 will receive a dividend of 0.27 per share from the information technology service provider on Tuesday, November 29. This represents an annualized dividend of $1.08 and a dividend yield of 2.08%. The ex-dividend date for this dividend is Thursday, November 17.
Cognizant Technology Solutions has increased its dividend by an average of 6.3% annually over the past three years and has increased its dividend annually for the past three years. Cognizant Technology Solutions’ dividend payout ratio of 22.0% indicates that its dividend is fully covered by earnings. Equity analysts expect Cognizant Technology Solutions to post earnings of $4.97 a share next year, which means the company should continue to pay an annual dividend of $1.08, with a projected payout ratio of 21.7% going forward.
Cognizant Technology Solutions Trading fell 13.8%
Nasdaq CTSH opened Friday at $51.96. The company has a market cap of $26.9 billion, a price-to-earnings ratio of 111.55, a PEG ratio of 1.25, and a beta of 1.05. The company has a current ratio of 2.23, a quick ratio of 2.23, and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions had a 12-month low of $51.33 and a 12-month high of $93.47. The stock has a 50-day moving average of $60.91 and a 200-day moving average of $67.83.
Analyst Rating Changes
CTSH has been the subject of several research reports. Robert W. Baird lowered his price target on Cognizant Technology Solutions to $66.00 from $70.00 in a note Thursday. Deutsche Bank cut its price target on Cognizant Technology Solutions to $54.00 from $65.00 in a report on Thursday. Morgan Stanley cut its price target on Cognizant Technology Solutions to $60.00 from $65.00 in a report on Thursday, with an “equal weight” rating on the company. William Blair downgraded Cognizant Technology Solutions to a “market perform” rating from “outperform” in a research note on Thursday. Finally, JPMorgan Chase & Co. Reduced its price target on Cognizant Technology Solutions to $65.00 from $77.00 and rated the stock as “neutral” in a research note on Friday, Oct. 14. One investment analyst has a sell rating on the stock, thirteen have a hold rating, and three have a buy rating on the company’s stock. The stock currently has a “hold” consensus rating and a consensus price target of $73.68, according to MarketBeat.com.
In other Cognizant Technology Solutions news, Director Zein Abdalla sold 4,368 Cognizant Technology Solutions shares in a transaction that took place on Friday, September 9. The stock sold at an average price of $65.44 for a total value of $285,841.92. Following the sale, the director now directly owns 13,556 shares of the company, valued at $887,104.64. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. 0.34% of shares are held by insiders.
Institutional investors value Cognizant technology solutions
Several institutional investors have recently bought and sold CTSH stock. Zions Bancorporation NA improved its position in Cognizant Technology Solutions by 29.9% in the first quarter. Zions Bancorporation NA now owns 651 shares of the information technology services provider’s stock, valued at $58,000, after purchasing an additional 150 shares in the previous quarter. Covestor Ltd increased its stock position in Cognizant Technology Solutions by 42.3% in the first quarter. Covestor Ltd now owns 1,383 shares in the information technology services provider worth $124,000 after buying an additional 411 shares in the previous quarter. Continuum Advisory LLC purchased a new position in Cognizant Technology Solutions stock for $202,000 in the first quarter. NewEdge Advisors LLC purchased a new position in Cognizant Technology Solutions stock for $219,000 in the second quarter. Finally, Edgestream Partners LP purchased a new position in Cognizant Technology Solutions stock for $223,000 in the first quarter. Institutional investors hold 90.67% of the company.
Cognitive Technology Solutions Company Profile
(get a rating)
Cognizant Technology Solutions Corporation is a professional services company providing consulting and technology and outsourcing services in North America, Europe and internationally. It operates through four sectors: Financial Services; Health Care; Products and Resources; and Communications, Media and Technology.
Generated from MarketBeat’s narrative science technology and financial data, this instant news alert is designed to provide readers with the fastest, most accurate coverage. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to email@example.com.
You’ll want to hear this before you consider Cognizant Technology Solutions.
MarketBeat tracks Wall Street’s top and top-performing research analysts and the stocks they recommend to clients on a daily basis. MarketBeat has identified five stocks that top analysts are quietly whispering to their clients to buy ahead of the broader market…and Cognizant Technology Solutions isn’t on the list.
While Cognizant Technology Solutions currently has a “hold” rating among analysts, the top-rated analyst sees these five stocks as better buys.
Check out the five stocks here