StockNews.com Downgrades Cognizant Technology Solutions (NASDAQ:CTSH) to Hold

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday.

CTSH has been the subject of several other research reports. Bank of America upgraded shares of Cognizant Technology Solutions from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $73.00 to $75.00 in a research report on Wednesday, August 7th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. TD Cowen increased their price target on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a "hold" rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. Finally, Daiwa America raised Cognizant Technology Solutions to a "hold" rating in a research note on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $78.83.

Cognizant Technology Solutions Price Performance

CTSH traded down $1.05 during midday trading on Friday, hitting $80.31. The company had a trading volume of 3,994,358 shares, compared to its average volume of 3,834,461. Cognizant Technology Solutions has a twelve month low of $63.79 and a twelve month high of $81.75. The firm's 50-day simple moving average is $76.47 and its 200-day simple moving average is $72.36. The company has a market capitalization of $39.81 billion, a PE ratio of 17.77, a P/E/G ratio of 2.06 and a beta of 1.05. 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 - Get Free Report) last released its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. The company had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same period last year, the firm earned $1.16 EPS. The business's revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts predict that Cognizant Technology Solutions will post 4.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Cognizant Technology Solutions

Large investors have recently modified their holdings of the business. Addison Advisors LLC raised its holdings in Cognizant Technology Solutions by 127.7% during the third 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 in the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of Cognizant Technology Solutions during the 2nd quarter worth approximately $25,000. LRI Investments LLC acquired a new stake in shares of Cognizant Technology Solutions in the 1st quarter valued at approximately $28,000. Ashton Thomas Securities LLC bought a new position in shares of Cognizant Technology Solutions in the third quarter valued at $30,000. Finally, Pinnacle Bancorp Inc. increased its holdings in 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 worth $35,000 after buying an additional 146 shares during the last quarter. 92.44% of the stock is currently 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.