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

StockNews.com downgraded shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a buy rating to a hold rating in a research note released on Thursday morning.

Other analysts have also issued research reports about the stock. Wedbush reiterated an outperform rating and set a $85.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday. Evercore ISI raised their target price on shares of Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an in-line rating in a research report on Tuesday, March 26th. Royal Bank of Canada raised their target price on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a sector perform rating in a research report on Wednesday, February 7th. JPMorgan Chase & Co. cut their target price on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a neutral rating on the stock in a research report on Thursday. Finally, Guggenheim started coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, March 19th. They set a neutral rating and a $80.00 price target for the company. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cognizant Technology Solutions has an average rating of Hold and a consensus price target of $75.67.

Cognizant Technology Solutions Stock Down 0.0 %

Cognizant Technology Solutions stock opened at $66.25 on Thursday. The stock has a market cap of $32.98 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.51 and a beta of 1.08. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions has a twelve month low of $60.26 and a twelve month high of $80.09. The company’s 50-day moving average price is $72.31 and its two-hundred day moving average price is $72.55.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.11 by $0.01. The company had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $1.11 earnings per share. As a group, analysts expect that Cognizant Technology Solutions will post 4.6 EPS for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.81%. The ex-dividend date is Friday, May 17th. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 28.85%.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the sale, the executive vice president now directly owns 8,312 shares of the company’s stock, valued at $640,522.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mediolanum International Funds Ltd bought a new stake in Cognizant Technology Solutions in the first quarter valued at $1,252,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Cognizant Technology Solutions by 10.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 55,746 shares of the information technology service provider’s stock valued at $4,086,000 after buying an additional 5,253 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Cognizant Technology Solutions during the first quarter valued at about $549,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Cognizant Technology Solutions by 20.4% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,827 shares of the information technology service provider’s stock valued at $280,000 after buying an additional 648 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Cognizant Technology Solutions by 5.5% during the first quarter. Daiwa Securities Group Inc. now owns 83,368 shares of the information technology service provider’s stock valued at $6,110,000 after buying an additional 4,338 shares during the last quarter. 92.44% of the stock is 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.