Cognizant Technology Solutions (NASDAQ:CTSH) Downgraded 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 report issued on Thursday.

A number of other research analysts have also weighed in on CTSH. Barclays raised 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. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $76.00 price objective on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Robert W. Baird lifted their price objective on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $73.00 to $75.00 in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $77.58.

Cognizant Technology Solutions Stock Down 1.5 %

CTSH opened at $74.35 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. The company’s 50-day moving average is $76.43 and its 200 day moving average is $71.93. Cognizant Technology Solutions has a fifty-two week low of $62.14 and a fifty-two week high of $80.27. The firm has a market capitalization of $36.85 billion, a P/E ratio of 16.94, a PEG ratio of 2.16 and a beta of 1.05.

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 analysts’ consensus estimates of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period last year, the firm earned $1.10 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. 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 related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction 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 approximately $3,419,812.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Foster & Motley Inc. grew its stake in Cognizant Technology Solutions by 10.9% in the 3rd quarter. Foster & Motley Inc. now owns 60,150 shares of the information technology service provider’s stock worth $4,642,000 after buying an additional 5,905 shares in the last quarter. Radnor Capital Management LLC purchased a new position in Cognizant Technology Solutions in the 3rd quarter worth approximately $1,909,000. Catalyst Capital Advisors LLC grew its stake in Cognizant Technology Solutions by 379.7% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 2,293 shares of the information technology service provider’s stock worth $177,000 after buying an additional 1,815 shares in the last quarter. Quintet Private Bank Europe S.A. grew its stake in Cognizant Technology Solutions by 14.6% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 3,006 shares of the information technology service provider’s stock worth $232,000 after buying an additional 382 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of Cognizant Technology Solutions by 4.6% in the 3rd quarter. QRG Capital Management Inc. now owns 198,268 shares of the information technology service provider’s stock worth $15,302,000 after acquiring an additional 8,672 shares during the last quarter. Hedge funds and other 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.