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

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

A number of other equities research analysts have also recently weighed in on the company. Citigroup cut their price target on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Barclays decreased their price target on Cognizant Technology Solutions from $80.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Royal Bank of Canada upped their price objective on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. Mizuho initiated coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, January 30th. They set a “neutral” rating and a $82.00 target price on the stock. Finally, Wolfe Research upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus target price of $75.63.

Cognizant Technology Solutions Stock Performance

Cognizant Technology Solutions stock opened at $65.37 on Thursday. Cognizant Technology Solutions has a 12-month low of $58.47 and a 12-month high of $80.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25. The company has a market capitalization of $32.54 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.50 and a beta of 1.08. The firm’s fifty day moving average price is $72.84 and its 200 day moving average price is $72.51.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Tuesday, February 6th. The information technology service provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.14. The firm had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.76 billion. Cognizant Technology Solutions had a net margin of 10.98% and a return on equity of 17.83%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. On average, research analysts forecast that Cognizant Technology Solutions will post 4.59 EPS for the current fiscal year.

Insider Transactions at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the transaction, the executive vice president now owns 8,312 shares in the company, valued at approximately $640,522.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Cognizant Technology Solutions during the fourth quarter valued at $26,000. NBC Securities Inc. purchased a new position in Cognizant Technology Solutions during the 3rd quarter valued at about $27,000. Spire Wealth Management increased its holdings in shares of Cognizant Technology Solutions by 79.1% in the 4th quarter. Spire Wealth Management now owns 437 shares of the information technology service provider’s stock valued at $34,000 after purchasing an additional 193 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth approximately $40,000. Finally, Quarry LP acquired a new stake in shares of Cognizant Technology Solutions during the fourth quarter worth approximately $43,000. 92.44% of the stock is 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.