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

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

A number of other equities analysts also recently commented on CTSH. Jefferies Financial Group started coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price objective for the company. Royal Bank of Canada raised 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 note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft upped their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday. Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $73.00 to $75.00 in a research report on Wednesday, August 7th. Finally, Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $77.58.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $75.82 on Wednesday. The company’s fifty day moving average is $76.49 and its two-hundred day moving average is $71.74. The firm has a market capitalization of $37.70 billion, a price-to-earnings ratio of 18.23, a P/E/G ratio of 2.16 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. Cognizant Technology Solutions has a 52-week low of $62.14 and a 52-week high of $80.27.

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

Insiders Place Their Bets

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the sale, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CTSH. 1620 Investment Advisors Inc. acquired a new position in Cognizant Technology Solutions in the 2nd quarter worth $25,000. LRI Investments LLC acquired a new position in shares of Cognizant Technology Solutions during the first quarter worth about $28,000. Pinnacle Bancorp Inc. grew its holdings in shares of Cognizant Technology Solutions by 47.4% during the third 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. Eastern Bank acquired a new stake in Cognizant Technology Solutions in the 3rd quarter valued at approximately $37,000. Finally, Benjamin Edwards Inc. lifted 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 in the last quarter. 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.