Cognizant Technology Solutions (NASDAQ:CTSH) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a buy rating to a hold rating in a research note published on Friday.

A number of other analysts have also weighed in on CTSH. Deutsche Bank Aktiengesellschaft upped their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Robert W. Baird lifted their price objective 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. Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $73.00 to $75.00 in a research report on Wednesday, August 7th. Finally, TD Cowen raised their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and an average price target of $78.83.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH traded down $1.05 during trading on Friday, hitting $80.31. 3,994,358 shares of the company were exchanged, compared to its average volume of 3,449,107. The company has a market cap of $39.82 billion, a PE ratio of 17.77, a P/E/G ratio of 2.19 and a beta of 1.05. Cognizant Technology Solutions has a 52-week low of $63.79 and a 52-week high of $81.75. 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 stock has a 50 day moving average of $76.47 and a 200 day moving average of $72.36.

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, topping analysts’ consensus estimates of $1.15 by $0.10. The business had revenue of $5.04 billion for 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 firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 EPS. As a group, equities research analysts predict that Cognizant Technology Solutions will post 4.66 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.49%. Cognizant Technology Solutions’s payout ratio is 26.55%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CTSH. Addison Advisors LLC grew its position in Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after acquiring an additional 189 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in Cognizant Technology Solutions during the 2nd quarter valued at $25,000. LRI Investments LLC bought a new stake in Cognizant Technology Solutions in the 1st quarter worth $28,000. Ashton Thomas Securities LLC purchased a new position in shares of Cognizant Technology Solutions in the third quarter valued at about $30,000. Finally, Pinnacle Bancorp Inc. raised its stake in shares of Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after acquiring an additional 146 shares during the last quarter. Hedge funds and other 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.