Cognizant Technology Solutions (NASDAQ:CTSH) Earns “Hold” Rating from Needham & Company LLC

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report)‘s stock had its “hold” rating reissued by equities researchers at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

CTSH has been the subject of a number of other research reports. BMO Capital Markets reduced their price objective on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a research note on Tuesday. Citigroup reduced their price target on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Mizuho started coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, January 30th. They set a “neutral” rating and a $82.00 price target for the company. Barclays dropped their price objective on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, April 26th. Finally, Evercore ISI increased their target price on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Cognizant Technology Solutions currently has an average rating of “Hold” and an average target price of $75.63.

Check Out Our Latest Analysis on CTSH

Cognizant Technology Solutions Trading Down 0.0 %

Shares of Cognizant Technology Solutions stock opened at $66.25 on Thursday. The company has a fifty day simple moving average of $72.58 and a 200-day simple moving average of $72.47. Cognizant Technology Solutions has a 12-month low of $60.26 and a 12-month high of $80.09. The company has a current ratio of 2.35, a quick ratio of 2.25 and a debt-to-equity ratio of 0.04. The stock has a market cap of $32.98 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.51 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSHGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the prior year, the firm posted $1.11 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts forecast that Cognizant Technology Solutions will post 4.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of the sale, the executive vice president now directly owns 8,312 shares in the company, valued at approximately $640,522.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. IFG Advisory LLC increased its holdings in Cognizant Technology Solutions by 45.1% during the 4th quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock valued at $5,070,000 after acquiring an additional 20,874 shares in the last quarter. Qube Research & Technologies Ltd grew its position in shares of Cognizant Technology Solutions by 36.0% in the third quarter. Qube Research & Technologies Ltd now owns 1,227,411 shares of the information technology service provider’s stock valued at $83,145,000 after purchasing an additional 324,638 shares during the last quarter. PGGM Investments increased its stake in shares of Cognizant Technology Solutions by 53.8% during the 3rd quarter. PGGM Investments now owns 74,411 shares of the information technology service provider’s stock worth $5,041,000 after purchasing an additional 26,035 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Cognizant Technology Solutions by 110.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,344,587 shares of the information technology service provider’s stock worth $91,082,000 after purchasing an additional 704,932 shares during the last quarter. Finally, Perigon Wealth Management LLC lifted its stake in Cognizant Technology Solutions by 4.4% in the 4th quarter. Perigon Wealth Management LLC now owns 4,743 shares of the information technology service provider’s stock valued at $358,000 after buying an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

About Cognizant Technology Solutions

(Get Free Report)

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.

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