Cognizant Technology Solutions (NASDAQ:CTSH) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a buy rating to a hold rating in a report published on Saturday morning.

A number of other brokerages have also recently commented on CTSH. Jefferies Financial Group initiated coverage on Cognizant Technology Solutions in a research report on Wednesday, August 28th. They issued a buy rating and a $90.00 price target on the stock. The Goldman Sachs Group restated a neutral rating and issued a $76.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. JPMorgan Chase & Co. lifted their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a neutral rating in a research report on Friday, September 6th. Daiwa America upgraded Cognizant Technology Solutions to a hold rating in a research report on Tuesday, August 27th. Finally, Needham & Company LLC reiterated a hold rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Cognizant Technology Solutions presently has an average rating of Hold and an average price target of $77.44.

Cognizant Technology Solutions Stock Down 0.1 %

CTSH stock opened at $76.04 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.46 and a quick ratio of 2.46. The stock has a market capitalization of $37.81 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.14 and a beta of 1.05. The business’s fifty day moving average price is $75.52 and its two-hundred day moving average price is $71.33. Cognizant Technology Solutions has a fifty-two week low of $62.14 and a fifty-two week high of $80.27.

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

Cognizant Technology Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Tuesday, August 20th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s payout ratio is 28.85%.

Insider Activity

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at $3,419,812.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Benjamin Edwards Inc. lifted its stake in shares of Cognizant Technology Solutions by 42.1% in the second 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 during the period. Unison Advisors LLC lifted its stake in Cognizant Technology Solutions by 0.6% in the first quarter. Unison Advisors LLC now owns 29,226 shares of the information technology service provider’s stock valued at $2,142,000 after buying an additional 172 shares during the period. Choate Investment Advisors lifted its stake in Cognizant Technology Solutions by 0.4% in 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 buying an additional 180 shares during the period. Lederer & Associates Investment Counsel CA lifted its stake in Cognizant Technology Solutions by 1.5% in the first quarter. Lederer & Associates Investment Counsel CA now owns 12,917 shares of the information technology service provider’s stock valued at $947,000 after buying an additional 190 shares during the period. Finally, First Personal Financial Services lifted its stake in Cognizant Technology Solutions by 0.6% in the second quarter. First Personal Financial Services now owns 34,893 shares of the information technology service provider’s stock valued at $2,373,000 after buying an additional 195 shares during the period. 92.44% of the stock is owned by institutional investors and hedge funds.

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.