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

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

Other analysts have also issued research reports about the company. Morgan Stanley lifted their price objective on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Robert W. Baird upped their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Barclays raised shares of Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $80.00 to $95.00 in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, UBS Group boosted their price objective on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Sixteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $83.22.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $86.20 on Thursday. Cognizant Technology Solutions has a fifty-two week low of $63.79 and a fifty-two week high of $87.61. The firm’s 50-day simple moving average is $79.44 and its two-hundred day simple moving average is $77.52. The stock has a market cap of $42.74 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 2.21 and a beta of 1.07. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. Analysts anticipate that Cognizant Technology Solutions will post 4.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total value of $400,550.00. Following the sale, the chief accounting officer now directly owns 39,022 shares in the company, valued at approximately $3,126,052.42. The trade was a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional Trading of Cognizant Technology Solutions

A number of large investors have recently added to or reduced their stakes in the company. Addison Advisors LLC increased its position in Cognizant Technology Solutions by 127.7% in the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares during the last quarter. Duncker Streett & Co. Inc. bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth about $28,000. Ashton Thomas Securities LLC purchased a new stake in shares of Cognizant Technology Solutions during the 3rd quarter valued at about $30,000. Trust Co. of Vermont lifted its holdings in shares of Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after acquiring an additional 292 shares during the last quarter. Finally, Pinnacle Bancorp Inc. grew its position in 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 worth $35,000 after acquiring an additional 146 shares in the last quarter. Institutional investors 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.