Cognizant Technology Solutions’ (CTSH) “Hold” Rating Reaffirmed at Needham & Company LLC

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

A number of other brokerages have also recently commented on CTSH. StockNews.com cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group reiterated a “neutral” rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Bank of America raised Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $73.00 to $75.00 in a research note on Wednesday, August 7th. Finally, Robert W. Baird upped their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $77.68.

Cognizant Technology Solutions Stock Down 1.5 %

Shares of Cognizant Technology Solutions stock opened at $74.35 on Thursday. The company has a market cap of $36.85 billion, a price-to-earnings ratio of 16.94, 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. The company’s 50 day moving average is $76.43 and its 200 day moving average is $71.93. Cognizant Technology Solutions has a twelve month low of $62.14 and a twelve month high of $80.27.

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 $1.14 by $0.11. The company had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. Cognizant Technology Solutions’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 earnings per share. Research analysts anticipate that Cognizant Technology Solutions will post 4.62 EPS for the current year.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the completion of the transaction, the chief executive officer now owns 46,427 shares in the company, valued at $3,419,812.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by insiders.

Institutional Trading of Cognizant Technology Solutions

Large investors have recently made changes to their positions in the stock. Pinnacle Bancorp Inc. grew its stake 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 purchasing an additional 146 shares in the last quarter. Benjamin Edwards Inc. raised 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 worth $36,000 after acquiring an additional 158 shares in the last quarter. Choate Investment Advisors lifted its position in Cognizant Technology Solutions by 0.4% during the first quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider’s stock valued at $3,558,000 after acquiring an additional 180 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in Cognizant Technology Solutions by 1.8% in the third quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock worth $862,000 after purchasing an additional 194 shares during the last quarter. Finally, First Personal Financial Services lifted its holdings in shares of Cognizant Technology Solutions by 0.6% during the 2nd quarter. First Personal Financial Services now owns 34,893 shares of the information technology service provider’s stock valued at $2,373,000 after purchasing an additional 195 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other 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.