BidaskClub Downgrades Cognizant Technology Solutions (CTSH) to Sell

BidaskClub lowered shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a hold rating to a sell rating in a research note published on Friday, December 29th.

A number of other research analysts have also commented on CTSH. Oppenheimer reaffirmed a buy rating and set a $80.00 price target on shares of Cognizant Technology Solutions in a research report on Wednesday, November 1st. Morgan Stanley upped their target price on Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock an equal weight rating in a report on Thursday, November 2nd. Sanford C. Bernstein upped their target price on Cognizant Technology Solutions from $84.00 to $90.00 and gave the stock an outperform rating in a report on Thursday, November 2nd. KeyCorp reiterated a buy rating and set a $79.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, October 12th. Finally, Cantor Fitzgerald reiterated a buy rating and set a $78.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $81.75.

Cognizant Technology Solutions (CTSH) opened at $74.56 on Friday. Cognizant Technology Solutions has a fifty-two week low of $51.52 and a fifty-two week high of $76.51. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $43,960.00, a PE ratio of 23.08, a PEG ratio of 1.40 and a beta of 1.08.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.13. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. The company had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the company posted $0.86 EPS. Cognizant Technology Solutions’s revenue for the quarter was up 9.1% on a year-over-year basis. research analysts anticipate that Cognizant Technology Solutions will post 3.35 earnings per share for the current fiscal year.

In related news, insider Venkat Krishnaswamy sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $75.00, for a total value of $300,000.00. Following the completion of the transaction, the insider now owns 3,919 shares of the company’s stock, valued at $293,925. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean Middleton sold 1,278 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $71.36, for a total transaction of $91,198.08. Following the completion of the transaction, the insider now directly owns 3,366 shares of the company’s stock, valued at approximately $240,197.76. The disclosure for this sale can be found here. Insiders have sold 807,286 shares of company stock valued at $58,679,209 in the last ninety days. Insiders own 1.08% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. KCS Wealth Advisory bought a new position in Cognizant Technology Solutions in the fourth quarter worth approximately $589,000. Nisa Investment Advisors LLC raised its stake in Cognizant Technology Solutions by 3.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 263,491 shares of the information technology service provider’s stock worth $18,713,000 after buying an additional 9,050 shares in the last quarter. LGT Capital Partners LTD. raised its stake in Cognizant Technology Solutions by 30.0% in the fourth quarter. LGT Capital Partners LTD. now owns 511,250 shares of the information technology service provider’s stock worth $36,309,000 after buying an additional 117,909 shares in the last quarter. LVM Capital Management Ltd. MI purchased a new position in Cognizant Technology Solutions in the fourth quarter worth $5,063,000. Finally, First Citizens Bank & Trust Co. purchased a new position in Cognizant Technology Solutions in the fourth quarter worth $1,142,000. 85.98% of the stock is owned by institutional investors.

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About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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