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

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

Several other equities analysts have also recently issued reports on CTSH. JPMorgan Chase & Co. upped their price target on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Robert W. Baird boosted their price target on Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. 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. Finally, Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their price target for the company from $73.00 to $75.00 in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, nineteen have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $77.58.

Cognizant Technology Solutions Stock Down 1.6 %

CTSH opened at $74.86 on Wednesday. Cognizant Technology Solutions has a fifty-two week low of $62.14 and a fifty-two week high of $80.27. The company has a market capitalization of $37.22 billion, a P/E ratio of 18.00, a P/E/G ratio of 2.16 and a beta of 1.05. The stock has a fifty day moving average of $76.53 and a 200-day moving average of $71.77. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. Cognizant Technology Solutions’s revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 EPS. On average, equities analysts expect that Cognizant Technology Solutions will post 4.62 EPS for the current year.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Cognizant Technology Solutions

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Cognizant Technology Solutions by 13.6% in the first quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after purchasing an additional 6,933,908 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of Cognizant Technology Solutions by 11.7% in the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after acquiring an additional 1,943,127 shares during the last quarter. Boston Partners increased its position in shares of Cognizant Technology Solutions by 1.3% during the 1st quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock valued at $569,175,000 after purchasing an additional 101,078 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Cognizant Technology Solutions by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock valued at $378,483,000 after acquiring an additional 94,209 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Cognizant Technology Solutions by 2.7% during the second quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock valued at $363,153,000 after buying an additional 142,225 shares during the period. 92.44% of the stock is currently 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.