Cognizant Technology Solutions (NASDAQ:CTSH) Rating Lowered to Hold at 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 Saturday.

CTSH has been the subject of a number of other reports. Royal Bank of Canada upped their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. Barclays boosted their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Mizuho reiterated a “neutral” rating and set a $82.00 price target on shares of Cognizant Technology Solutions in a research note on Tuesday, June 11th. The Goldman Sachs Group restated a “neutral” rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Finally, Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $77.44.

Cognizant Technology Solutions Stock Up 0.6 %

Cognizant Technology Solutions stock opened at $75.64 on Friday. The firm has a 50 day moving average price of $75.40 and a 200 day moving average price of $71.35. The company has a market capitalization of $37.61 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. Cognizant Technology Solutions has a fifty-two week low of $62.14 and a fifty-two week high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 EPS. Research analysts expect that Cognizant Technology Solutions will post 4.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the completion of the transaction, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several large investors have recently bought and sold shares of the stock. Benjamin Edwards Inc. increased its stake in Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after buying an additional 158 shares during the period. Unison Advisors LLC grew its stake in shares of Cognizant Technology Solutions by 0.6% in the 1st quarter. Unison Advisors LLC now owns 29,226 shares of the information technology service provider’s stock worth $2,142,000 after purchasing an additional 172 shares during the last quarter. Choate Investment Advisors grew its stake in shares of Cognizant Technology Solutions by 0.4% in the 1st quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider’s stock worth $3,558,000 after purchasing an additional 180 shares during the last quarter. Lederer & Associates Investment Counsel CA grew its stake in shares of Cognizant Technology Solutions by 1.5% in the 1st quarter. Lederer & Associates Investment Counsel CA now owns 12,917 shares of the information technology service provider’s stock worth $947,000 after purchasing an additional 190 shares during the last quarter. Finally, First Personal Financial Services grew its stake in shares of Cognizant Technology Solutions by 0.6% in the 2nd quarter. First Personal Financial Services now owns 34,893 shares of the information technology service provider’s stock worth $2,373,000 after purchasing an additional 195 shares during the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

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.