Cognizant Technology Solutions’ (CTSH) Hold Rating Reaffirmed at Needham & Company LLC

Cognizant Technology Solutions (NASDAQ:CTSH)‘s stock had its “hold” rating restated by equities research analysts at Needham & Company LLC in a research note issued on Thursday, Benzinga reports.

CTSH has been the subject of several other reports. Barclays raised their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $73.00 to $75.00 in a research report on Wednesday, August 7th. Daiwa America raised shares of Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. Jefferies Financial Group assumed coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. They set a “buy” rating and a $90.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their price objective 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. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Cognizant Technology Solutions has an average rating of “Hold” and an average price target of $77.68.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH opened at $74.35 on Thursday. The firm has a market capitalization of $36.85 billion, a PE ratio of 16.94, a P/E/G ratio of 2.16 and a beta of 1.05. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $76.43 and a two-hundred day moving average price of $71.93. Cognizant Technology Solutions has a twelve month low of $62.14 and a twelve month high of $80.27.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.31% and a net margin of 11.39%. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the company earned $1.16 earnings per share. Equities analysts forecast that Cognizant Technology Solutions will post 4.62 EPS for the current year.

Insider Activity

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the sale, the chief executive officer now owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. The trade was a 0.00 % decrease in their position. 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 Investors Weigh In On Cognizant Technology Solutions

Several hedge funds have recently made changes to their positions in the company. Pinnacle Bancorp Inc. boosted its stake in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after acquiring an additional 146 shares in the last quarter. Benjamin Edwards Inc. raised its position in shares of Cognizant Technology Solutions by 42.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after purchasing an additional 158 shares during the last quarter. Choate Investment Advisors boosted its stake in Cognizant Technology Solutions by 0.4% in the 1st quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider’s stock worth $3,558,000 after purchasing an additional 180 shares in the last quarter. 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. Finally, First Personal Financial Services grew its holdings in shares of Cognizant Technology Solutions by 0.6% during the second quarter. First Personal Financial Services now owns 34,893 shares of the information technology service provider’s stock valued at $2,373,000 after buying an additional 195 shares during the last quarter. 92.44% of the stock is currently owned by 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.