Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) had its price objective cut by Robert W. Baird from $78.00 to $76.00 in a report issued on Thursday morning, The Fly reports. They currently have an outperform rating on the information technology service provider's stock.

A number of other equities analysts also recently commented on CTSH. UBS Group lowered their target price on shares of Cognizant Technology Solutions from $89.00 to $76.00 and set a neutral rating for the company in a research note on Thursday, July 28th. Jefferies Financial Group reduced their price target on shares of Cognizant Technology Solutions from $78.00 to $72.00 and set a hold rating for the company in a research report on Wednesday, September 14th. HSBC cut shares of Cognizant Technology Solutions from a buy rating to a hold rating and reduced their price target for the company from $90.00 to $79.00 in a research report on Wednesday, August 17th. JPMorgan Chase & Co. cut shares of Cognizant Technology Solutions from an overweight rating to a neutral rating and reduced their price target for the company from $82.00 to $77.00 in a research report on Thursday, July 28th. Finally, Cowen reissued a downgrade rating on shares of Cognizant Technology Solutions in a research report on Thursday, July 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $83.13.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $58.85 on Thursday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.05. The firm has a fifty day moving average price of $65.95 and a 200 day moving average price of $73.70. The company has a market cap of $30.47 billion, a P/E ratio of 13.65, a PEG ratio of 1.19 and a beta of 1.06. Cognizant Technology Solutions has a 12 month low of $58.13 and a 12 month high of $93.47.

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 30th. Investors of record on Friday, August 19th were issued a dividend of $0.27 per share. The ex-dividend date was Thursday, August 18th. This represents a $1.08 annualized dividend and a yield of 1.84%. Cognizant Technology Solutions's dividend payout ratio is currently 25.06%.

Insider Buying and Selling

In related news, Director Zein Abdalla sold 4,368 shares of the stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $65.44, for a total transaction of $285,841.92. Following the completion of the transaction, the director now directly owns 13,556 shares of the company's stock, valued at $887,104.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CTSH. Cornerstone Advisory LLC acquired a new position in Cognizant Technology Solutions during the fourth quarter worth about $27,000. Hardy Reed LLC acquired a new position in Cognizant Technology Solutions during the first quarter worth about $27,000. Dark Forest Capital Management LP acquired a new position in Cognizant Technology Solutions during the second quarter worth about $26,000. Prospera Financial Services Inc grew its position in Cognizant Technology Solutions by 77.0% during the second quarter. Prospera Financial Services Inc now owns 393 shares of the information technology service provider's stock worth $27,000 after buying an additional 171 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in Cognizant Technology Solutions by 1,433.3% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 460 shares of the information technology service provider's stock worth $41,000 after buying an additional 430 shares during the period. 90.67% of the stock is owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Company Profile

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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; Healthcare; Products and Resources; and Communications, Media and Technology.

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