Cognizant Technology Solutions (NASDAQ:CTSH) Upgraded by BidaskClub to Sell

BidaskClub upgraded shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a strong sell rating to a sell rating in a research report released on Tuesday morning, BidAskClub reports.

CTSH has been the topic of several other reports. Nomura reaffirmed a hold rating and issued a $68.00 target price on shares of Cognizant Technology Solutions in a research report on Sunday, May 10th. UBS Group cut their target price on Cognizant Technology Solutions from $57.00 to $37.00 and set a sell rating on the stock in a research report on Tuesday, April 7th. Sanford C. Bernstein lowered Cognizant Technology Solutions from an outperform rating to a market perform rating and set a $60.00 target price on the stock. in a research report on Friday, May 8th. raised Cognizant Technology Solutions from an underperform rating to a neutral rating and set a $60.00 price objective on the stock in a research report on Wednesday, June 10th. Finally, Wells Fargo & Co reissued a buy rating on shares of Cognizant Technology Solutions in a research report on Friday, May 8th. Seven research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $62.25.

CTSH stock opened at $56.82 on Tuesday. Cognizant Technology Solutions has a 52-week low of $40.01 and a 52-week high of $71.48. The stock’s fifty day simple moving average is $54.03 and its 200-day simple moving average is $57.37. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $29.85 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 1.47 and a beta of 1.15.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Thursday, May 7th. The information technology service provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.22 billion. Cognizant Technology Solutions had a return on equity of 20.90% and a net margin of 10.46%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. As a group, analysts anticipate that Cognizant Technology Solutions will post 3.41 earnings per share for the current fiscal year.

In related news, insider Malcolm Frank sold 1,492 shares of Cognizant Technology Solutions stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $54.83, for a total value of $81,806.36. Following the completion of the transaction, the insider now directly owns 32,924 shares in the company, valued at $1,805,222.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Matthew W. Friedrich sold 459 shares of Cognizant Technology Solutions stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $54.62, for a total value of $25,070.58. Following the completion of the transaction, the general counsel now owns 1,072 shares of the company’s stock, valued at $58,552.64. The disclosure for this sale can be found here. Insiders sold 5,794 shares of company stock valued at $318,107 over the last quarter. Insiders own 0.31% of the company’s stock.

A number of large investors have recently bought and sold shares of CTSH. Wealth Quarterback LLC acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at approximately $19,244,610,000. Norges Bank acquired a new position in Cognizant Technology Solutions in the fourth quarter valued at approximately $364,997,000. Artisan Partners Limited Partnership boosted its stake in Cognizant Technology Solutions by 41.8% in the fourth quarter. Artisan Partners Limited Partnership now owns 9,823,283 shares of the information technology service provider’s stock valued at $609,240,000 after acquiring an additional 2,893,642 shares during the period. Invesco Ltd. boosted its stake in Cognizant Technology Solutions by 24.3% in the first quarter. Invesco Ltd. now owns 13,116,889 shares of the information technology service provider’s stock valued at $609,542,000 after acquiring an additional 2,568,186 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Cognizant Technology Solutions by 14.1% in the fourth quarter. Bank of New York Mellon Corp now owns 19,713,105 shares of the information technology service provider’s stock valued at $1,222,606,000 after acquiring an additional 2,438,257 shares during the period. Institutional investors and hedge funds own 90.44% 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 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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