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

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

Several other equities analysts have also recently weighed in on CTSH. Deutsche Bank Aktiengesellschaft raised their target price 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. Mizuho lifted their price objective on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Robert W. Baird upped their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Finally, TD Cowen raised their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Fifteen analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $81.19.

Cognizant Technology Solutions Stock Up 1.8 %

Shares of NASDAQ CTSH traded up $1.36 during midday trading on Monday, reaching $76.68. The company’s stock had a trading volume of 3,190,973 shares, compared to its average volume of 2,637,117. Cognizant Technology Solutions has a fifty-two week low of $63.79 and a fifty-two week high of $82.46. The stock has a 50 day simple moving average of $79.06 and a 200-day simple moving average of $76.31. The stock has a market capitalization of $38.02 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 2.24 and a beta of 1.07. 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 posted its quarterly earnings data on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the prior year, the business posted $1.16 EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts predict that Cognizant Technology Solutions will post 4.66 earnings per share for the current 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 dated Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now directly owns 39,022 shares in the company, valued at $3,126,052.42. This represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.

Institutional Trading of Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its position in Cognizant Technology Solutions by 3.6% during the third quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock valued at $1,928,405,000 after purchasing an additional 867,176 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Cognizant Technology Solutions by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 13,280,223 shares of the information technology service provider’s stock valued at $1,022,728,000 after purchasing an additional 173,667 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cognizant Technology Solutions by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock worth $378,483,000 after buying an additional 94,209 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Cognizant Technology Solutions by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock worth $363,153,000 after buying an additional 142,225 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Cognizant Technology Solutions by 1.4% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,844,882 shares of the information technology service provider’s stock valued at $329,452,000 after purchasing an additional 67,017 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.