Cognizant Technology Solutions Co. (NASDAQ:CTSH) Given Consensus Recommendation of “Hold” by Brokerages

Cognizant Technology Solutions Co. (NASDAQ:CTSH) has earned a consensus rating of “Hold” from the nineteen ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $76.12.

CTSH has been the topic of several recent analyst reports. Mizuho reaffirmed a “neutral” rating and set a $82.00 price objective on shares of Cognizant Technology Solutions in a research report on Tuesday, June 11th. BMO Capital Markets decreased their price objective on shares of Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Susquehanna lowered their price objective on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Citigroup cut their target price 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. Finally, The Goldman Sachs Group assumed coverage on Cognizant Technology Solutions in a report on Monday, June 24th. They set a “neutral” rating and a $72.00 price target on the stock.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock opened at $76.31 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.35 and a current ratio of 2.35. The company has a market capitalization of $37.94 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05. Cognizant Technology Solutions has a one year low of $62.14 and a one year high of $80.27. The company’s 50-day moving average is $69.24 and its 200 day moving average is $71.90.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly 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. The firm had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 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 .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.10 earnings per share. Sell-side analysts expect that Cognizant Technology Solutions will post 4.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Cognizant Technology Solutions

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Cognizant Technology Solutions by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after purchasing an additional 7,445,089 shares during the last quarter. Norges Bank purchased a new stake in shares of Cognizant Technology Solutions during the 4th quarter worth approximately $406,360,000. Cibc World Markets Corp raised its holdings in shares of Cognizant Technology Solutions by 1,861.7% during the 4th quarter. Cibc World Markets Corp now owns 1,686,597 shares of the information technology service provider’s stock worth $127,389,000 after acquiring an additional 1,600,621 shares in the last quarter. KBC Group NV boosted its position in shares of Cognizant Technology Solutions by 2,083.8% during the 4th quarter. KBC Group NV now owns 1,422,912 shares of the information technology service provider’s stock valued at $107,473,000 after acquiring an additional 1,357,755 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Cognizant Technology Solutions by 129.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,904,263 shares of the information technology service provider’s stock worth $139,565,000 after purchasing an additional 1,073,666 shares during the last quarter. 92.44% of the stock is owned by hedge funds and other 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.