Cognizant Technology Solutions (NASDAQ:CTSH):
Cognizant Opens New Collaboratory in London to Help Business Leaders Create Digital Economy Products, Customer Experiences, and Business Models.
The company is up since yesterday’s close of $67.6.
The company recently declared a dividend which was paid on Wednesday the 31st of May 2017. The dividend was $0.150 per share for the quarter which is $0.60 annualized. This dividend represents a yeild of $0.89 which is the dividend as a percentage of the current share price. The ex-dividend date was Thursday the 18th of May 2017.
Cognizant Technology Solutions Corporation, launched on April 6, 1988, is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Business’s services include consulting and technology services and outsourcing services. Its consulting and technology services include business, process, operations and technology consulting, application development and systems integrations, application testing, enterprise information management and software solutions and related services. Its outsourcing services include application maintenance, IT infrastructure services and business process services. The Company deploys a range of commercial and delivery models, including managed services, fixed bid, output and outcome based pricing and platforms to address the various needs of its customers..
Shares of the company are trading at $68.13 just above $66.43, the 50 day moving average and a tad higher than the 200 day moving average of $60.07. The 50 day moving average was up by +2.56% whereas the 200 day moving average was up $8.06 or +13.41%.
The company’s P/E ratio is 24.78 and market capitalization is 40.13B. As of the last earnings report the EPS was $2.75 and is estimated to be $3.67 for the current year with 588,996,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $0.95 and the next full year EPS is projected to be $4.32.
Investors are feeling more bullish on shares of Cognizant Technology Solutions recently looking at the decrease in short interest. The firm realized a fall in short interest of -9.61% between June 15, 2017 and May 31, 2017. Short shares fell 1,330,284 over that period. The short-interest ratio decreased to 2.9 and the percentage of shorted shares is 0.02% as of May 31.
Several investment analysts have provided guidance on the stock recently. On June 5 the company was rated “Hold” according to a Societe Generale report which is down from the previous “Buy” rating. On November 23 the company was set at “Market Perform” in a report from William Blair which was a cut from the previous “Outperform” rating.
Equity analyst Bank of America downgraded the stock and lowered the price target on November 22 changing the price target from $60.00 to $48.00 and changing the rating from “Buy” to “Underperform”. On November 22 the stock rating was downgraded from “Buy” to “Underperform” and a price target of $48.00 was set in an announcement from Bank of America.
HSBC began coverage of the stock with a rating of “Buy”. On September 30 the company was downgraded to “Buy” from “Buy” by Citigroup.