Cognizant Technology Solutions (NASDAQ:CTSH) Cut to “Hold” at StockNews.com

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

A number of other research analysts have also recently issued reports on the company. Robert W. Baird lifted their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Mizuho increased their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, Barclays upgraded shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $80.00 to $95.00 in a research note on Tuesday, December 17th. Fifteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus price target of $81.19.

Cognizant Technology Solutions Stock Up 0.6 %

NASDAQ:CTSH opened at $77.17 on Monday. Cognizant Technology Solutions has a 1-year low of $63.79 and a 1-year high of $82.46. The company has a market capitalization of $38.26 billion, a PE ratio of 17.07, a P/E/G ratio of 2.21 and a beta of 1.06. The firm’s 50-day moving average price is $79.09 and its 200-day moving average price is $76.37. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23.

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

Insiders Place Their Bets

In other news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the transaction, the chief accounting officer now owns 39,022 shares in the company, valued at $3,126,052.42. This represents a 11.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.26% of the company’s stock.

Institutional Trading of Cognizant Technology Solutions

Several large investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC purchased a new position in shares of Cognizant Technology Solutions during the 2nd quarter worth $537,000. BOKF NA lifted its position in Cognizant Technology Solutions by 21.5% during the second quarter. BOKF NA now owns 14,930 shares of the information technology service provider’s stock valued at $1,015,000 after purchasing an additional 2,638 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Cognizant Technology Solutions during the second quarter valued at about $40,000. Dimensional Fund Advisors LP increased its position 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 worth $378,483,000 after buying an additional 94,209 shares in the last quarter. Finally, Denali Advisors LLC raised its stake in shares of Cognizant Technology Solutions by 107.0% in the second quarter. Denali Advisors LLC now owns 8,715 shares of the information technology service provider’s stock worth $593,000 after buying an additional 4,504 shares during the period. 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.