Cognizant Technology Solutions Co. (NASDAQ:CTSH – Get Rating) shares gapped down prior to trading on Friday after Morgan Stanley lowered their price target on the stock from $65.00 to $60.00. The stock had previously closed at $70.66, but opened at $66.02. Morgan Stanley currently has an equal weight rating on the stock. Cognizant Technology Solutions shares last traded at $68.96, with a volume of 565,416 shares traded.
Several other research analysts have also commented on CTSH. William Blair lowered shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 3rd. Bank of America lowered shares of Cognizant Technology Solutions from a “neutral” rating to an “underperform” rating and set a $57.00 price objective for the company. in a research note on Monday, January 9th. Societe Generale lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $70.00 price objective for the company. in a research note on Thursday, November 3rd. BMO Capital Markets boosted their price objective on shares of Cognizant Technology Solutions from $65.00 to $71.00 and gave the stock a “market perform” rating in a research note on Friday, January 13th. Finally, Barclays reduced their price objective on shares of Cognizant Technology Solutions from $55.00 to $45.00 and set an “underweight” rating for the company in a research note on Sunday, November 6th. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $69.35.
Insider Transactions at Cognizant Technology Solutions
In other news, Director Leo S. Jr. Mackay sold 3,300 shares of the stock in a transaction on Monday, November 7th. The shares were sold at an average price of $52.79, for a total value of $174,207.00. Following the sale, the director now owns 28,310 shares in the company, valued at $1,494,484.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.
Institutional Trading of Cognizant Technology Solutions
A number of hedge funds have recently added to or reduced their stakes in the company. Zions Bancorporation N.A. boosted its holdings in Cognizant Technology Solutions by 29.9% during the first quarter. Zions Bancorporation N.A. now owns 651 shares of the information technology service provider’s stock worth $58,000 after buying an additional 150 shares in the last quarter. Nwam LLC boosted its holdings in Cognizant Technology Solutions by 3.8% during the second quarter. Nwam LLC now owns 4,276 shares of the information technology service provider’s stock worth $290,000 after buying an additional 157 shares in the last quarter. SP Asset Management boosted its holdings in Cognizant Technology Solutions by 0.3% during the second quarter. SP Asset Management now owns 47,950 shares of the information technology service provider’s stock worth $3,236,000 after buying an additional 165 shares in the last quarter. Scotia Capital Inc. boosted its holdings in Cognizant Technology Solutions by 4.1% during the second quarter. Scotia Capital Inc. now owns 4,203 shares of the information technology service provider’s stock worth $284,000 after buying an additional 166 shares in the last quarter. Finally, Prospera Financial Services Inc boosted its holdings in Cognizant Technology Solutions by 77.0% during the second quarter. Prospera Financial Services Inc now owns 393 shares of the information technology service provider’s stock worth $27,000 after buying an additional 171 shares in the last quarter. 90.12% of the stock is owned by hedge funds and other institutional investors.
Cognizant Technology Solutions Price Performance
The company has a debt-to-equity ratio of 0.05, a current ratio of 2.27 and a quick ratio of 2.27. The stock has a market capitalization of $35.60 billion, a PE ratio of 15.39, a P/E/G ratio of 1.34 and a beta of 1.07. The stock’s fifty day moving average is $60.44 and its 200-day moving average is $61.87.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The information technology service provider reported $1.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.01. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.78 billion. Cognizant Technology Solutions had a net margin of 12.11% and a return on equity of 19.55%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the firm posted $1.10 earnings per share. As a group, equities analysts predict that Cognizant Technology Solutions Co. will post 4.41 earnings per share for the current fiscal year.
Cognizant Technology Solutions Company Profile
Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services, Healthcare, Products and Resources, and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.