Cognizant Technology Solutions (NASDAQ:CTSH) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Saturday, BidAskClub reports.
Several other brokerages also recently commented on CTSH. ValuEngine raised Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. BMO Capital Markets lowered their price objective on Cognizant Technology Solutions to $75.00 and set an “outperform” rating for the company in a research report on Monday, October 28th. Credit Suisse Group dropped their price target on shares of Cognizant Technology Solutions from $83.00 to $81.00 and set an “outperform” rating on the stock in a research report on Monday, September 23rd. Zacks Investment Research lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $66.00 price objective on the stock. in a research note on Thursday, September 5th. Finally, Edward Jones upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus target price of $70.72.
Cognizant Technology Solutions stock opened at $62.66 on Friday. The stock has a 50-day moving average price of $62.27 and a two-hundred day moving average price of $62.54. Cognizant Technology Solutions has a 12 month low of $56.73 and a 12 month high of $74.85. The company has a market capitalization of $34.31 billion, a PE ratio of 15.59, a P/E/G ratio of 1.44 and a beta of 1.04. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.13.
In other Cognizant Technology Solutions news, General Counsel Matthew W. Friedrich sold 452 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $64.29, for a total transaction of $29,059.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Karen Mcloughlin sold 1,523 shares of Cognizant Technology Solutions stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $64.92, for a total transaction of $98,873.16. Following the transaction, the chief financial officer now directly owns 66,043 shares in the company, valued at $4,287,511.56. The disclosure for this sale can be found here. Insiders have sold a total of 78,237 shares of company stock valued at $4,979,200 over the last three months. Corporate insiders own 0.56% of the company’s stock.
Several institutional investors have recently bought and sold shares of CTSH. North Star Investment Management Corp. purchased a new stake in Cognizant Technology Solutions in the 3rd quarter worth about $25,000. Berman Capital Advisors LLC boosted its position in Cognizant Technology Solutions by 137.7% during the second quarter. Berman Capital Advisors LLC now owns 637 shares of the information technology service provider’s stock worth $40,000 after purchasing an additional 369 shares during the period. Citizens Financial Group Inc RI boosted its position in Cognizant Technology Solutions by 35.3% during the second quarter. Citizens Financial Group Inc RI now owns 716 shares of the information technology service provider’s stock worth $46,000 after purchasing an additional 187 shares during the period. CSat Investment Advisory L.P. increased its stake in shares of Cognizant Technology Solutions by 1,027.3% in the second quarter. CSat Investment Advisory L.P. now owns 1,116 shares of the information technology service provider’s stock worth $71,000 after purchasing an additional 1,017 shares in the last quarter. Finally, Cascade Investment Advisors Inc. increased its stake in shares of Cognizant Technology Solutions by 100.0% in the third quarter. Cascade Investment Advisors Inc. now owns 1,400 shares of the information technology service provider’s stock worth $84,000 after purchasing an additional 700 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.
About Cognizant Technology Solutions
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.
Further Reading: Percentage Decliners
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