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

Cognizant Technology Solutions (NASDAQ:CTSH) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

A number of other analysts have also recently commented on CTSH. Barclays upped their price objective on Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group upped their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Robert W. Baird raised their price objective on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada upped their target price on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. Finally, Daiwa America upgraded shares of 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 given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $76.61.

Cognizant Technology Solutions Stock Performance

CTSH traded down $0.56 during midday trading on Thursday, hitting $76.76. 2,773,680 shares of the company traded hands, compared to its average volume of 4,015,185. The company’s 50-day moving average is $73.68 and its 200 day moving average is $71.61. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $38.16 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 2.21 and a beta of 1.05. Cognizant Technology Solutions has a 52 week low of $62.14 and a 52 week high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The company had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.10 earnings per share. On average, research analysts expect that Cognizant Technology Solutions will post 4.62 EPS for the current year.

Insider Activity

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the sale, the chief executive officer now owns 46,427 shares in the company, valued at approximately $3,419,812.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company 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 CTSH. Vanguard Group Inc. increased its position in Cognizant Technology Solutions by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after purchasing an additional 7,445,089 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Cognizant Technology Solutions by 7.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 532,677 shares of the information technology service provider’s stock valued at $39,242,000 after buying an additional 38,526 shares in the last quarter. Merit Financial Group LLC lifted its holdings in shares of Cognizant Technology Solutions by 16.8% in the 4th quarter. Merit Financial Group LLC now owns 3,523 shares of the information technology service provider’s stock valued at $266,000 after acquiring an additional 508 shares during the last quarter. Blair William & Co. IL grew its position in Cognizant Technology Solutions by 2.5% in the first quarter. Blair William & Co. IL now owns 16,795 shares of the information technology service provider’s stock worth $1,231,000 after acquiring an additional 412 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Cognizant Technology Solutions during the fourth quarter worth approximately $1,786,000. 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.