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

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

Several other research analysts have also recently commented on the stock. Jefferies Financial Group raised shares of Cognizant Technology Solutions from a hold rating to a buy rating and raised their target price for the stock from $70.00 to $85.00 in a report on Thursday, January 11th. Needham & Company LLC reissued a hold rating on shares of Cognizant Technology Solutions in a research note on Thursday. Susquehanna decreased their price objective on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a neutral rating on the stock in a research note on Thursday. Guggenheim assumed coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a neutral rating and a $80.00 price objective on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Cognizant Technology Solutions from $81.00 to $74.00 and set a neutral rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Cognizant Technology Solutions has a consensus rating of Hold and a consensus target price of $75.67.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH traded down $0.02 during mid-day trading on Thursday, hitting $66.25. The stock had a trading volume of 7,399,746 shares, compared to its average volume of 3,943,487. Cognizant Technology Solutions has a twelve month low of $60.26 and a twelve month high of $80.09. The stock has a market cap of $32.98 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.51 and a beta of 1.08. The company’s 50 day simple moving average is $72.31 and its 200 day simple moving average is $72.46. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.25 and a current ratio of 2.35.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, May 1st. The information technology service provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. The firm had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.72 billion. Cognizant Technology Solutions had a net margin of 10.84% and a return on equity of 17.48%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the business posted $1.11 earnings per share. On average, equities research analysts forecast that Cognizant Technology Solutions will post 4.6 earnings per share for the current year.

Cognizant Technology Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Monday, May 20th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.20 annualized dividend and a yield of 1.81%. Cognizant Technology Solutions’s payout ratio is 28.85%.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $77.06, for a total value of $69,354.00. Following the completion of the sale, the executive vice president now directly owns 8,312 shares of the company’s stock, valued at $640,522.72. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

Institutional investors have recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC bought a new stake in Cognizant Technology Solutions in the 4th quarter worth about $26,000. NBC Securities Inc. bought a new stake in Cognizant Technology Solutions in the 3rd quarter worth about $27,000. Spire Wealth Management grew its position in 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 worth $34,000 after purchasing an additional 193 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Cognizant Technology Solutions in the 4th quarter worth about $40,000. Finally, Quarry LP bought a new stake in Cognizant Technology Solutions in the 4th quarter worth about $43,000. 92.44% of the stock is owned by institutional investors.

Cognizant Technology Solutions Company Profile

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.