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

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

CTSH has been the subject of several other reports. Mizuho lifted their target price on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised their price target on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price objective on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research report on Friday, September 6th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $80.35.

Cognizant Technology Solutions Price Performance

CTSH traded up $0.15 during trading on Tuesday, reaching $76.90. 2,039,834 shares of the company were exchanged, compared to its average volume of 3,708,996. Cognizant Technology Solutions has a 12-month low of $63.79 and a 12-month high of $82.46. The company has a market cap of $38.13 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 2.24 and a beta of 1.06. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average is $78.85 and its two-hundred day moving average is $75.76.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.10. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. The firm had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis. Research analysts forecast that Cognizant Technology Solutions will post 4.66 earnings per share for the current fiscal year.

Insider Activity at Cognizant Technology Solutions

In related news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction that occurred 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 directly owns 39,022 shares in the company, valued at $3,126,052.42. The trade was a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Institutional Trading of Cognizant Technology Solutions

A number of hedge funds have recently modified their holdings of CTSH. Pinnacle Bancorp Inc. boosted its position in shares of Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 146 shares in the last quarter. Benjamin Edwards Inc. grew its stake in shares of Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after acquiring an additional 158 shares during the last quarter. Addison Advisors LLC increased its holdings in shares of Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after acquiring an additional 189 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in Cognizant Technology Solutions by 32.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 786 shares of the information technology service provider’s stock worth $61,000 after purchasing an additional 193 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its position in Cognizant Technology Solutions by 1.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock valued at $862,000 after purchasing an additional 194 shares during the last quarter. Institutional investors own 92.44% of the company’s stock.

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.