Cognizant Technology Solutions (NASDAQ:CTSH) Stock Rating Upgraded by StockNews.com

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

CTSH has been the subject of several other research reports. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price target on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. The Goldman Sachs Group reissued a “neutral” rating and set a $76.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price target on the stock. Finally, Barclays upped their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and four have assigned 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 $77.44.

Cognizant Technology Solutions Price Performance

CTSH opened at $77.60 on Tuesday. Cognizant Technology Solutions has a twelve month low of $62.14 and a twelve month high of $80.27. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. The firm has a market cap of $38.58 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 2.16 and a beta of 1.05. The company has a fifty day simple moving average of $76.24 and a 200 day simple moving average of $71.59.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. Cognizant Technology Solutions’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 EPS. Equities research analysts expect that Cognizant Technology Solutions will post 4.62 EPS for the current fiscal year.

Insider Activity

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the transaction, the chief executive officer now owns 46,427 shares of the company’s stock, valued at $3,419,812.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is owned by company insiders.

Institutional Trading of Cognizant Technology Solutions

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC bought a new position in Cognizant Technology Solutions during the 4th quarter valued at about $259,000. Los Angeles Capital Management LLC lifted its holdings in Cognizant Technology Solutions by 13.6% in the first quarter. Los Angeles Capital Management LLC now owns 543,815 shares of the information technology service provider’s stock valued at $39,856,000 after buying an additional 65,010 shares during the period. GAMMA Investing LLC grew its holdings in Cognizant Technology Solutions by 8.7% during the 1st quarter. GAMMA Investing LLC now owns 4,408 shares of the information technology service provider’s stock worth $323,000 after acquiring an additional 354 shares during the period. First Hawaiian Bank raised its position in shares of Cognizant Technology Solutions by 12.6% during the 1st quarter. First Hawaiian Bank now owns 33,116 shares of the information technology service provider’s stock valued at $2,427,000 after acquiring an additional 3,714 shares during the last quarter. Finally, Perpetual Ltd lifted its stake in shares of Cognizant Technology Solutions by 0.6% in the 1st quarter. Perpetual Ltd now owns 238,910 shares of the information technology service provider’s stock valued at $17,510,000 after purchasing an additional 1,466 shares during the period. Institutional investors own 92.44% of the company’s stock.

About Cognizant Technology Solutions

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.