Cognizant Technology Solutions (CTSH) Downgraded by BidaskClub to Hold

Cognizant Technology Solutions (NASDAQ:CTSH) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Tuesday.

CTSH has been the subject of a number of other reports. Vetr raised Cognizant Technology Solutions from a “hold” rating to a “strong-buy” rating and set a $95.56 price target for the company in a report on Wednesday, November 29th. KeyCorp reaffirmed a “buy” rating and set a $79.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, September 8th. Bank of America reaffirmed a “buy” rating and set a $86.00 target price on shares of Cognizant Technology Solutions in a research note on Tuesday, September 12th. BMO Capital Markets upped their target price on Cognizant Technology Solutions from $76.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday, November 2nd. Finally, Needham & Company LLC raised Cognizant Technology Solutions from a “buy” rating to a “strong-buy” rating and upped their target price for the stock from $78.00 to $90.00 in a research note on Wednesday, November 1st. Six analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. Cognizant Technology Solutions currently has an average rating of “Buy” and a consensus price target of $81.91.

Cognizant Technology Solutions (NASDAQ CTSH) opened at $70.32 on Tuesday. Cognizant Technology Solutions has a twelve month low of $51.52 and a twelve month high of $76.51. The stock has a market capitalization of $41,460.00, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 1.61 and a beta of 1.07. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 3.29.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the previous year, the company posted $0.86 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 9.1% on a year-over-year basis. equities research analysts predict that Cognizant Technology Solutions will post 3.35 EPS for the current fiscal year.

In other Cognizant Technology Solutions news, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $72.00, for a total value of $1,800,000.00. Following the completion of the sale, the insider now directly owns 311,923 shares in the company, valued at approximately $22,458,456. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP James Patrick Lennox sold 1,725 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $71.57, for a total value of $123,458.25. Following the completion of the sale, the executive vice president now owns 8,407 shares of the company’s stock, valued at $601,688.99. The disclosure for this sale can be found here. Insiders have sold 652,042 shares of company stock valued at $47,088,347 over the last quarter. 1.08% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Candriam Luxembourg S.C.A. grew its holdings in shares of Cognizant Technology Solutions by 7.0% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 39,364 shares of the information technology service provider’s stock worth $2,614,000 after purchasing an additional 2,569 shares during the period. Korea Investment CORP grew its holdings in shares of Cognizant Technology Solutions by 21.5% during the 2nd quarter. Korea Investment CORP now owns 228,131 shares of the information technology service provider’s stock worth $15,148,000 after purchasing an additional 40,403 shares during the period. Davis R M Inc. grew its holdings in shares of Cognizant Technology Solutions by 5.9% during the 2nd quarter. Davis R M Inc. now owns 286,906 shares of the information technology service provider’s stock worth $19,051,000 after purchasing an additional 15,886 shares during the period. Goelzer Investment Management Inc. grew its holdings in shares of Cognizant Technology Solutions by 86.4% during the 2nd quarter. Goelzer Investment Management Inc. now owns 74,788 shares of the information technology service provider’s stock worth $4,966,000 after purchasing an additional 34,673 shares during the period. Finally, AKO Capital LLP grew its holdings in shares of Cognizant Technology Solutions by 31.1% during the 2nd quarter. AKO Capital LLP now owns 713,337 shares of the information technology service provider’s stock worth $47,366,000 after purchasing an additional 169,280 shares during the period. Institutional investors own 87.06% of the company’s stock.

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Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

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