Cognizant Technology Solutions (NASDAQ:CTSH) Raised to Hold at Mizuho

Cognizant Technology Solutions (NASDAQ:CTSH) was upgraded by Mizuho to a “hold” rating in a report released on Wednesday,Zacks.com reports.

Several other research firms have also recently issued reports on CTSH. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, February 6th. Royal Bank of Canada raised their target price on Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. UBS Group cut their target price on Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Morgan Stanley cut their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Fifteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and an average price target of $83.71.

Cognizant Technology Solutions Stock Down 3.1 %

Shares of NASDAQ:CTSH opened at $77.21 on Wednesday. The stock’s 50-day moving average price is $82.64 and its 200-day moving average price is $79.44. Cognizant Technology Solutions has a 12-month low of $63.79 and a 12-month high of $90.82. The stock has a market capitalization of $38.19 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 16.78% and a net margin of 11.35%. On average, equities analysts anticipate that Cognizant Technology Solutions will post 4.98 earnings per share for the current year.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Cognizant Technology Solutions by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 59,028,485 shares of the information technology service provider’s stock valued at $4,539,290,000 after purchasing an additional 515,881 shares during the last quarter. State Street Corp lifted its holdings in shares of 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 during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cognizant Technology Solutions by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 13,437,687 shares of the information technology service provider’s stock valued at $1,032,239,000 after purchasing an additional 157,464 shares during the last quarter. FMR LLC lifted its holdings in shares of Cognizant Technology Solutions by 1.1% during the fourth quarter. FMR LLC now owns 11,147,006 shares of the information technology service provider’s stock valued at $857,205,000 after purchasing an additional 123,745 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Cognizant Technology Solutions by 2.8% during the fourth quarter. Invesco Ltd. now owns 10,655,180 shares of the information technology service provider’s stock valued at $819,383,000 after purchasing an additional 287,973 shares during the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

About Cognizant Technology Solutions

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.