StockNews.com Upgrades Cognizant Technology Solutions (NASDAQ:CTSH) to “Buy”

Cognizant Technology Solutions (NASDAQ:CTSH) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Several other research analysts have also commented on CTSH. Robert W. Baird lifted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Barclays raised shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $80.00 to $95.00 in a report on Tuesday, December 17th. The Goldman Sachs Group reiterated a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. TD Cowen lifted their price objective on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $80.35.

Cognizant Technology Solutions Stock Up 0.2 %

Shares of NASDAQ:CTSH opened at $76.90 on Tuesday. The firm has a 50 day simple moving average of $78.86 and a 200-day simple moving average of $75.76. Cognizant Technology Solutions has a twelve month low of $63.79 and a twelve month high of $82.46. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $38.13 billion, a PE ratio of 17.01, a P/E/G ratio of 2.24 and a beta of 1.06.

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

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently modified their holdings of the company. Addison Advisors LLC raised its holdings in Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Cognizant Technology Solutions during the 3rd quarter worth $30,000. Pinnacle Bancorp Inc. boosted its position in shares of Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after buying an additional 146 shares in the last quarter. Benjamin Edwards Inc. grew its stake in Cognizant Technology Solutions by 42.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after acquiring an additional 158 shares during the last quarter. Finally, Eastern Bank purchased a new position in Cognizant Technology Solutions during the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.