Cognizant Technology Solutions (NASDAQ:CTSH) Earns “Hold” Rating from Needham & Company LLC

Cognizant Technology Solutions (NASDAQ:CTSH)‘s stock had its “hold” rating reiterated by equities research analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports.

CTSH has been the subject of a number of other reports. Mizuho boosted their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. TD Cowen raised their target price 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. UBS Group boosted their price target on Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, BMO Capital Markets raised their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday. Sixteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $83.22.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH opened at $86.20 on Thursday. 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 has a 12 month low of $63.79 and a 12 month high of $87.61. The company has a market capitalization of $42.74 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 2.21 and a beta of 1.07. The firm’s 50-day moving average is $79.44 and its 200 day moving average is $77.52.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. Research analysts predict that Cognizant Technology Solutions will post 4.66 EPS for the current year.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the company’s 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 transaction, the chief accounting officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in shares of Cognizant Technology Solutions during the third quarter valued at $1,972,000. Retirement Systems of Alabama grew its stake in Cognizant Technology Solutions by 3.5% during the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock valued at $91,678,000 after purchasing an additional 40,226 shares during the last quarter. CGN Advisors LLC acquired a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at about $1,294,000. Matthews International Capital Management LLC raised its stake in shares of Cognizant Technology Solutions by 52.0% in the fourth quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock worth $3,853,000 after purchasing an additional 17,134 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Cognizant Technology Solutions by 12.6% during the third quarter. Daiwa Securities Group Inc. now owns 101,420 shares of the information technology service provider’s stock worth $7,828,000 after purchasing an additional 11,349 shares during the period. Institutional investors and hedge funds 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.