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

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

Several other research analysts also recently commented on the company. Mizuho boosted their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Robert W. Baird raised their target price on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. TD Cowen upped 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 report on Thursday, October 31st. Finally, Barclays upgraded shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $80.00 to $95.00 in a research report on Tuesday, December 17th. Fifteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $81.19.

Cognizant Technology Solutions Price Performance

Shares of CTSH traded up $1.36 during mid-day trading on Monday, reaching $76.68. The company had a trading volume of 3,190,973 shares, compared to its average volume of 2,637,117. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market capitalization of $38.02 billion, a P/E 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 company’s 50-day moving average is $79.06 and its 200-day moving average is $76.31.

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

Insider Activity at Cognizant Technology Solutions

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

Institutional Investors Weigh In On Cognizant Technology Solutions

Several large investors have recently modified their holdings of the business. Addison Advisors LLC grew its position in shares of Cognizant Technology Solutions by 127.7% in 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 position in Cognizant Technology Solutions in the third quarter valued at approximately $30,000. Pinnacle Bancorp Inc. boosted its holdings in shares of 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 period. Benjamin Edwards Inc. increased its position in shares of Cognizant Technology Solutions by 42.1% during the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after acquiring an additional 158 shares in the last quarter. Finally, Eastern Bank acquired a new stake in shares of Cognizant Technology Solutions during the third quarter worth $37,000. 92.44% of the stock is currently owned by 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.