Cognizant Technology Solutions (NASDAQ:CTSH) Upgraded to Buy at StockNews.com

Cognizant Technology Solutions (NASDAQ:CTSH) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Other analysts have also recently issued reports about the company. Robert W. Baird lifted their price target on Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. TD Cowen lifted their target price on Cognizant Technology Solutions from $75.00 to $76.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. UBS Group upped their price target on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. BMO Capital Markets lifted their price objective on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday. Sixteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $83.22.

Cognizant Technology Solutions Trading Down 1.0 %

CTSH stock opened at $86.20 on Thursday. The stock has a market cap of $42.74 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 2.21 and a beta of 1.07. The company has a fifty day moving average price of $79.44 and a two-hundred day moving average price of $77.52. Cognizant Technology Solutions has a one year low of $63.79 and a one year high of $87.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. Equities analysts anticipate that Cognizant Technology Solutions will post 4.66 EPS for the current year.

Insider Buying and Selling

In related news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now owns 39,022 shares of the company’s stock, valued at $3,126,052.42. This trade represents a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several large investors have recently bought and sold shares of the company. Addison Advisors LLC raised its holdings in Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after buying an additional 189 shares during the last quarter. Duncker Streett & Co. Inc. acquired a new position in Cognizant Technology Solutions in the 4th quarter valued at approximately $28,000. Ashton Thomas Securities LLC bought a new position in shares of Cognizant Technology Solutions during the third quarter valued at $30,000. Trust Co. of Vermont lifted its holdings in shares of Cognizant Technology Solutions by 188.4% during the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 292 shares during the period. Finally, Pinnacle Bancorp Inc. increased its holdings 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 valued at $35,000 after purchasing an additional 146 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.