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

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

Several other research analysts have also issued reports on CTSH. Barclays upgraded shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $80.00 to $95.00 in a research report on Tuesday, December 17th. TD Cowen upped their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Mizuho increased their price objective on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their target price on 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, Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Fifteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $81.19.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $77.17 on Monday. The firm has a market capitalization of $38.26 billion, a P/E ratio of 17.07, a P/E/G ratio of 2.21 and a beta of 1.06. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The stock’s 50-day simple moving average is $79.09 and its two-hundred day simple moving average is $76.37. Cognizant Technology Solutions has a twelve month low of $63.79 and a twelve month high of $82.46.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The company had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same period in the prior year, the business earned $1.16 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that Cognizant Technology Solutions will post 4.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the completion of the sale, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $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 can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in CTSH. Addison Advisors LLC increased its position in Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after purchasing an additional 189 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at about $30,000. Pinnacle Bancorp Inc. boosted its stake in shares of Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after purchasing an additional 146 shares in the last quarter. Eastern Bank purchased a new position in shares of Cognizant Technology Solutions during the third quarter valued at about $37,000. Finally, Benjamin Edwards Inc. raised 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 worth $36,000 after buying an additional 158 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.