Cognizant Technology Solutions (NASDAQ:CTSH) Lowered to Hold at 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 report issued on Saturday.

A number of other research analysts have also recently commented on CTSH. 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 target price on the stock. Barclays upped their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. JPMorgan Chase & Co. upped their price objective on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, Mizuho reaffirmed a “neutral” rating and set a $82.00 target price on shares of Cognizant Technology Solutions in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $77.44.

Cognizant Technology Solutions Stock Up 0.6 %

CTSH opened at $75.64 on Friday. 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 one year low of $62.14 and a one year high of $80.27. The firm has a market capitalization of $37.61 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. The company has a fifty day moving average price of $75.40 and a 200-day moving average price of $71.43.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share 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 analysts’ expectations of $4.80 billion. During the same quarter last year, the firm posted $1.10 EPS. The company’s revenue was down .7% compared to the same quarter last year. Equities research analysts expect that Cognizant Technology Solutions will post 4.62 earnings per share for the current fiscal year.

Insider Activity at Cognizant Technology Solutions

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

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in CTSH. Benjamin Edwards Inc. grew its stake in shares of 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 worth $36,000 after buying an additional 158 shares during the last quarter. Unison Advisors LLC raised its stake in shares of Cognizant Technology Solutions by 0.6% in the first quarter. Unison Advisors LLC now owns 29,226 shares of the information technology service provider’s stock worth $2,142,000 after purchasing an additional 172 shares during the last quarter. Choate Investment Advisors lifted its holdings in shares of Cognizant Technology Solutions by 0.4% during the first quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider’s stock valued at $3,558,000 after purchasing an additional 180 shares in the last quarter. Lederer & Associates Investment Counsel CA boosted its position in shares of Cognizant Technology Solutions by 1.5% during the first quarter. Lederer & Associates Investment Counsel CA now owns 12,917 shares of the information technology service provider’s stock valued at $947,000 after buying an additional 190 shares during the last quarter. Finally, First Personal Financial Services increased its holdings in Cognizant Technology Solutions by 0.6% in the 2nd quarter. First Personal Financial Services now owns 34,893 shares of the information technology service provider’s stock worth $2,373,000 after buying an additional 195 shares in the last quarter. Institutional investors 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.