Cognizant Technology Solutions (NASDAQ:CTSH) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a buy rating to a hold rating in a research note released on Friday.

Several other analysts have also issued reports on the stock. Royal Bank of Canada increased their price target on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Barclays boosted their price target on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Bank of America raised Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. Finally, Robert W. Baird boosted their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus price target of $78.83.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $81.50 on Friday. The firm has a market cap of $40.41 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The stock’s fifty day moving average price is $76.47 and its two-hundred day moving average price is $72.42. Cognizant Technology Solutions has a one year low of $63.79 and a one year high of $82.19.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The business had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, research analysts expect that Cognizant Technology Solutions will post 4.66 EPS for the current fiscal year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.47%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is presently 26.55%.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Cognizant Technology Solutions by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock valued at $4,254,178,000 after purchasing an additional 6,933,908 shares during the period. Pzena Investment Management LLC increased its position in shares of Cognizant Technology Solutions by 11.7% during the second quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock worth $1,265,473,000 after buying an additional 1,943,127 shares during the period. Boston Partners increased its position in shares of Cognizant Technology Solutions by 1.3% during the first quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock worth $569,175,000 after buying an additional 101,078 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Cognizant Technology Solutions by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock valued at $378,483,000 after buying an additional 94,209 shares during the period. Finally, Legal & General Group Plc boosted its position in Cognizant Technology Solutions by 2.7% during the second quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock valued at $363,153,000 after acquiring an additional 142,225 shares during the last quarter. 92.44% of the stock is currently owned by institutional investors.

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.