Cognizant Technology Solutions (NASDAQ:CTSH) Lowered to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

Several other research analysts also recently issued reports on CTSH. JPMorgan Chase & Co. upped their price target on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Mizuho increased their target price on Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Daiwa America upgraded Cognizant Technology Solutions to a “hold” rating in a report on Tuesday, August 27th. TD Cowen upped their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird boosted their target price on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $78.83.

Cognizant Technology Solutions Price Performance

NASDAQ:CTSH traded down $1.05 during mid-day trading on Friday, reaching $80.31. The stock had a trading volume of 3,994,358 shares, compared to its average volume of 3,449,107. The stock has a 50-day simple moving average of $76.47 and a two-hundred day simple moving average of $72.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.23 and a quick ratio of 2.23. Cognizant Technology Solutions has a 12 month low of $63.79 and a 12 month high of $81.75. The stock has a market capitalization of $39.82 billion, a PE ratio of 17.77, a P/E/G ratio of 2.19 and a beta of 1.05.

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 $1.15 by $0.10. The company had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. Cognizant Technology Solutions’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.16 EPS. On average, equities analysts anticipate that Cognizant Technology Solutions will post 4.66 earnings per share for the current year.

Cognizant Technology Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.20 annualized dividend and a yield of 1.49%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is currently 26.55%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CTSH. Pinnacle Bancorp Inc. boosted its stake in shares of Cognizant Technology Solutions by 47.4% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after buying an additional 146 shares during the last quarter. Benjamin Edwards Inc. boosted its position in Cognizant Technology Solutions by 42.1% in the second 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 increased its position in shares of Cognizant Technology Solutions by 0.4% during the 1st quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider’s stock valued at $3,558,000 after purchasing an additional 180 shares during the last quarter. Addison Advisors LLC raised its stake in shares of Cognizant Technology Solutions by 127.7% during the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after purchasing an additional 189 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Cognizant Technology Solutions by 32.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 786 shares of the information technology service provider’s stock worth $61,000 after buying an additional 193 shares during the last quarter. 92.44% 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 in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.