Cognizant Technology Solutions (NASDAQ:CTSH) Lowered to “Hold” Rating by StockNews.com

Cognizant Technology Solutions (NASDAQ:CTSH) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also recently commented on CTSH. TD Cowen boosted their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Bank of America raised Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $73.00 to $75.00 in a research report on Wednesday, August 7th. Jefferies Financial Group started coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price objective on the stock. 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 report on Tuesday, October 22nd. Finally, Barclays upped their price objective on 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 research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and an average price target of $78.83.

Cognizant Technology Solutions Stock Up 2.5 %

CTSH stock opened at $81.36 on Friday. Cognizant Technology Solutions has a fifty-two week low of $63.79 and a fifty-two week high of $81.53. The business’s 50 day moving average price is $76.33 and its two-hundred day moving average price is $72.21. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The company has a market capitalization of $40.33 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 2.06 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping 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 firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the previous year, the firm posted $1.16 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, analysts forecast that Cognizant Technology Solutions will post 4.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cognizant Technology Solutions

Large investors have recently made changes to their positions in the company. 1620 Investment Advisors Inc. bought a new stake in shares of Cognizant Technology Solutions in the second quarter worth about $25,000. Addison Advisors LLC grew its position in Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after acquiring an additional 189 shares in the last quarter. LRI Investments LLC purchased a new position in Cognizant Technology Solutions in the first quarter worth about $28,000. Ashton Thomas Securities LLC purchased a new position in Cognizant Technology Solutions in the third quarter worth about $30,000. Finally, Pinnacle Bancorp Inc. grew its position in Cognizant Technology Solutions by 47.4% in the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after acquiring an additional 146 shares in the last quarter. 92.44% of the stock is owned by institutional investors.

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.