Cognizant Technology Solutions (NASDAQ:CTSH) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a buy rating to a hold rating in a research report sent to investors on Monday morning.

Other research analysts have also recently issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, October 31st. Barclays upgraded Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $80.00 to $95.00 in a report on Tuesday, December 17th. TD Cowen boosted their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, Mizuho upped their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $81.19.

Cognizant Technology Solutions Stock Performance

NASDAQ CTSH opened at $76.68 on Monday. The stock has a market cap of $38.02 billion, a PE ratio of 16.96, a P/E/G ratio of 2.24 and a beta of 1.07. Cognizant Technology Solutions has a twelve month low of $63.79 and a twelve month high of $82.46. The stock has a fifty day simple moving average of $79.06 and a 200-day simple moving average of $76.31. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the business earned $1.16 earnings per share. Equities analysts anticipate that Cognizant Technology Solutions will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.56%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is 26.55%.

Insider Buying and Selling at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the transaction, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cognizant Technology Solutions

Institutional investors and hedge funds have recently bought and sold shares of the stock. Addison Advisors LLC increased its position in shares of Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Cognizant Technology Solutions during the third quarter worth approximately $30,000. Pinnacle Bancorp Inc. lifted its stake 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 valued at $35,000 after buying an additional 146 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after buying an additional 158 shares during the last quarter. Finally, Eastern Bank purchased a new position in shares of Cognizant Technology Solutions during the third quarter worth approximately $37,000. 92.44% of the stock is owned by hedge funds and other institutional investors.

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.