Cognizant Technology Solutions (NASDAQ:CTSH) Earns “Hold” Rating from Needham & Company LLC

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

Several other equities research analysts have also issued reports on CTSH. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. UBS Group lifted their price objective on shares of Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday. Robert W. Baird raised their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. BMO Capital Markets upped their price objective on Cognizant Technology Solutions from $88.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Seventeen research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus price target of $82.33.

Cognizant Technology Solutions Stock Up 0.1 %

Cognizant Technology Solutions stock opened at $83.60 on Thursday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average price is $79.31 and its two-hundred day moving average price is $77.45. The firm has a market capitalization of $41.45 billion, a price-to-earnings ratio of 18.50, a price-to-earnings-growth ratio of 2.21 and a beta of 1.07. Cognizant Technology Solutions has a 1-year low of $63.79 and a 1-year high of $83.97.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. On average, equities research analysts predict that Cognizant Technology Solutions will post 4.66 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO John Sunshin Kim sold 5,000 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the sale, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of large investors have recently added to or reduced their stakes in CTSH. Addison Advisors LLC grew its position in Cognizant Technology Solutions by 127.7% during the third quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock valued at $26,000 after acquiring an additional 189 shares during the last quarter. Duncker Streett & Co. Inc. purchased a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at $28,000. Ashton Thomas Securities LLC purchased a new position in Cognizant Technology Solutions in the 3rd quarter worth $30,000. Trust Co. of Vermont lifted its stake in Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 292 shares during the last quarter. Finally, Pinnacle Bancorp Inc. boosted its position in Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after buying an additional 146 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

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.