Cognizant Technology Solutions (NASDAQ:CTSH) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a buy rating to a hold rating in a report published on Monday morning.

Other analysts have also issued research reports about the company. TD Cowen upped their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, October 31st. 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. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, October 31st. Robert W. Baird raised their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Mizuho upped their price target on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Fifteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus target price of $81.19.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $77.78 on Monday. Cognizant Technology Solutions has a 52-week low of $63.79 and a 52-week high of $82.46. The firm has a market capitalization of $38.56 billion, a PE ratio of 17.21, a P/E/G ratio of 2.21 and a beta of 1.06. The firm has a 50-day moving average price of $79.09 and a 200 day moving average price of $76.37. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08.

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

Cognizant Technology Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Tuesday, November 19th. Cognizant Technology Solutions’s payout ratio is presently 26.55%.

Insiders Place Their Bets

In other news, CAO John Sunshin Kim sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total value of $400,550.00. Following the transaction, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Addison Advisors LLC grew its stake 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 buying an additional 189 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Cognizant Technology Solutions in the third quarter worth approximately $30,000. Trust Co. of Vermont grew its position in Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 292 shares in the last quarter. Pinnacle Bancorp Inc. increased its stake in shares of Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares during the last quarter. Finally, Eastern Bank acquired a new stake in shares of Cognizant Technology Solutions in the 3rd quarter valued at $37,000. 92.44% of the stock is owned by institutional investors and hedge funds.

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.