Cognizant Technology Solutions (NASDAQ:CTSH) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a buy rating to a hold rating in a research report released on Wednesday.

A number of other research analysts have also recently issued reports on CTSH. Royal Bank of Canada increased 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. The Goldman Sachs Group reissued a “neutral” rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. Jefferies Financial Group started coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price objective on the stock. Finally, Daiwa America upgraded shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus price target of $77.58.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $74.82 on Wednesday. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions has a 12-month low of $62.14 and a 12-month high of $80.27. The company has a market cap of $37.20 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The stock has a 50 day simple moving average of $76.52 and a 200-day simple moving average of $71.79.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.80 billion. During the same quarter last year, the company earned $1.10 earnings per share. Cognizant Technology Solutions’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities analysts forecast that Cognizant Technology Solutions will post 4.62 EPS for the current year.

Cognizant Technology Solutions Announces Dividend

The business also recently disclosed 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 1.60%. The ex-dividend date was Tuesday, August 20th. Cognizant Technology Solutions’s dividend payout ratio is currently 28.85%.

Insider Transactions at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 of the company’s stock, valued at approximately $3,419,812.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional Trading of Cognizant Technology Solutions

Several institutional investors have recently made changes to their positions in the stock. Blair William & Co. IL increased its stake in Cognizant Technology Solutions by 2.5% during 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 during the last quarter. Duality Advisers LP acquired a new stake in Cognizant Technology Solutions during the 1st quarter worth approximately $1,687,000. Norden Group LLC purchased a new position in Cognizant Technology Solutions in the first quarter valued at approximately $233,000. Van ECK Associates Corp lifted its position in Cognizant Technology Solutions by 15.4% during the first quarter. Van ECK Associates Corp now owns 147,345 shares of the information technology service provider’s stock valued at $10,799,000 after buying an additional 19,690 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in Cognizant Technology Solutions by 8.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 650,385 shares of the information technology service provider’s stock worth $47,667,000 after buying an additional 53,061 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

About Cognizant Technology Solutions

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.