BidaskClub Downgrades Cognizant Technology Solutions (NASDAQ:CTSH) to Strong Sell

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.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, October 30th. The information technology service provider reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.03. The firm had revenue of $4.25 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Cognizant Technology Solutions had a net margin of 12.60% and a return on equity of 20.23%. The company’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 EPS. As a group, analysts predict that Cognizant Technology Solutions will post 3.97 earnings per share for the current fiscal year.

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.

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Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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