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

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 Wednesday.

Other research analysts have also recently issued research reports about the company. Robert W. Baird boosted their price target on Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. Jefferies Financial Group assumed coverage on Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a "buy" rating and a $90.00 target price for the company. Bank of America raised shares of Cognizant Technology Solutions from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $73.00 to $75.00 in a research report on Wednesday, August 7th. Daiwa America raised shares of Cognizant Technology Solutions to a "hold" rating in a research note on Tuesday, August 27th. Finally, Barclays increased their price target on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an "equal weight" rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $77.58.

Cognizant Technology Solutions Trading Down 0.1 %

Shares of NASDAQ:CTSH traded down $0.07 during midday trading on Wednesday, reaching $75.75. The company's stock had a trading volume of 242,752 shares, compared to its average volume of 3,793,074. The business has a 50 day moving average price of $76.49 and a 200 day moving average price of $71.74. Cognizant Technology Solutions has a 1 year low of $62.14 and a 1 year high of $80.27. The firm has a market cap of $37.66 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH - Get Free Report) last released its earnings results 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. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The business had revenue of $4.85 billion for the quarter, compared to analysts' expectations of $4.80 billion. During the same period last year, the company earned $1.10 earnings per share. The company's quarterly revenue was down .7% on a year-over-year basis. Research analysts forecast that Cognizant Technology Solutions will post 4.62 EPS for the current year.

Insider Activity

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the completion of the transaction, the chief executive officer now directly owns 46,427 shares in the company, valued at approximately $3,419,812.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of hedge funds have recently added to or reduced their stakes in CTSH. 1620 Investment Advisors Inc. purchased a new stake in shares of Cognizant Technology Solutions during the second quarter worth about $25,000. LRI Investments LLC bought a new stake in shares of Cognizant Technology Solutions during the 1st quarter valued at about $28,000. Pinnacle Bancorp Inc. raised 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 during the period. Eastern Bank purchased a new position in Cognizant Technology Solutions during the third quarter valued at $37,000. Finally, Benjamin Edwards Inc. grew its stake in shares of 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 acquiring an additional 158 shares during the period. 92.44% of the stock is currently owned by institutional investors.

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.