Cognizant Technology Solutions (NASDAQ:CTSH) Stock Rating Reaffirmed by Needham & Company LLC

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

Other equities analysts also recently issued reports about the stock. Citigroup reduced their target price on shares of Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada increased their target price on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 7th. Barclays cut their price target on shares of Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Mizuho initiated coverage on Cognizant Technology Solutions in a report on Tuesday, January 30th. They set a “neutral” rating and a $82.00 price objective for the company. Finally, BMO Capital Markets dropped their target price on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $75.63.

Cognizant Technology Solutions Trading Down 0.0 %

NASDAQ:CTSH opened at $66.25 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.25 and a current ratio of 2.35. The firm has a 50-day simple moving average of $72.58 and a 200-day simple moving average of $72.47. Cognizant Technology Solutions has a one year low of $60.26 and a one year high of $80.09. The firm has a market cap of $32.98 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.51 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The company had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the prior year, the business earned $1.11 earnings per share. Cognizant Technology Solutions’s revenue was down 1.1% on a year-over-year basis. Equities analysts anticipate that Cognizant Technology Solutions will post 4.59 EPS for the current fiscal year.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, EVP Kathryn Diaz sold 900 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the sale, the executive vice president now owns 8,312 shares in the company, valued at $640,522.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Cognizant Technology Solutions by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after acquiring an additional 7,445,089 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Cognizant Technology Solutions by 32.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock valued at $1,196,547,000 after purchasing an additional 4,365,493 shares in the last quarter. Boston Partners raised its holdings in Cognizant Technology Solutions by 3.0% in the 3rd quarter. Boston Partners now owns 8,056,248 shares of the information technology service provider’s stock worth $544,942,000 after purchasing an additional 231,782 shares during the period. Northern Trust Corp boosted its position in Cognizant Technology Solutions by 5.0% during the third quarter. Northern Trust Corp now owns 6,177,547 shares of the information technology service provider’s stock worth $418,467,000 after purchasing an additional 294,415 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Cognizant Technology Solutions by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,433,474 shares of the information technology service provider’s stock valued at $410,406,000 after purchasing an additional 238,551 shares during the period. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.