Investors sold shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) on strength during trading hours on Monday after Jefferies Group lowered their price target on the stock from $70.00 to $63.00. $15.87 million flowed into the stock on the tick-up and $44.57 million flowed out of the stock on the tick-down, for a money net flow of $28.70 million out of the stock. Of all equities tracked, Cognizant Technology Solutions Corp. had the 0th highest net out-flow for the day. Cognizant Technology Solutions Corp. traded up $0.10 for the day and closed at $50.45

Several other research firms have also recently weighed in on CTSH. Nomura cut shares of Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and cut their target price for the company from $65.00 to $62.00 in a research note on Monday, August 8th. Needham & Company LLC cut their target price on shares of Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, August 8th. Cantor Fitzgerald set a $68.00 target price on shares of Cognizant Technology Solutions Corp. and gave the company a “buy” rating in a research note on Friday, August 5th. SunTrust Banks Inc. cut shares of Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $70.00 to $65.00 in a research note on Tuesday, July 12th. Finally, Pacific Crest began coverage on shares of Cognizant Technology Solutions Corp. in a research note on Tuesday, July 12th. They issued an “overweight” rating and a $69.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $65.52.

In other Cognizant Technology Solutions Corp. news, CEO Francisco Dsouza sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $58.57, for a total transaction of $5,857,000.00. Following the sale, the chief executive officer now owns 422,602 shares of the company’s stock, valued at approximately $24,751,799.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Malcolm Frank sold 1,248 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $58.50, for a total transaction of $73,008.00. Following the completion of the sale, the vice president now directly owns 3,945 shares in the company, valued at $230,782.50. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Motley Fool Wealth Management LLC increased its stake in Cognizant Technology Solutions Corp. by 2.7% in the first quarter. Motley Fool Wealth Management LLC now owns 115,900 shares of the information technology service provider’s stock valued at $7,267,000 after buying an additional 3,007 shares during the period. Matthews International Capital Management LLC increased its stake in Cognizant Technology Solutions Corp. by 3.9% in the first quarter. Matthews International Capital Management LLC now owns 2,841,700 shares of the information technology service provider’s stock valued at $178,175,000 after buying an additional 105,500 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its stake in Cognizant Technology Solutions Corp. by 10.1% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,072 shares of the information technology service provider’s stock valued at $694,000 after buying an additional 1,020 shares during the period. AMF Pensionsforsakring AB increased its stake in Cognizant Technology Solutions Corp. by 5.7% in the first quarter. AMF Pensionsforsakring AB now owns 1,171,886 shares of the information technology service provider’s stock valued at $73,477,000 after buying an additional 62,892 shares during the period. Finally, Associated Banc Corp increased its stake in Cognizant Technology Solutions Corp. by 226.5% in the first quarter. Associated Banc Corp now owns 101,985 shares of the information technology service provider’s stock valued at $6,394,000 after buying an additional 70,746 shares during the period. 87.00% of the stock is currently owned by institutional investors and hedge funds.

The firm has a market cap of $30.62 billion, a price-to-earnings ratio of 20.34 and a beta of 1.43. The company’s 50 day moving average is $54.78 and its 200-day moving average is $58.40.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last posted its quarterly earnings data on Friday, August 5th. The information technology service provider reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.05. Cognizant Technology Solutions Corp. had a net margin of 11.65% and a return on equity of 19.31%. The business earned $3.37 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same quarter last year, the firm posted $0.79 earnings per share. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, analysts predict that Cognizant Technology Solutions Corp. will post $3.38 earnings per share for the current fiscal year.

Cognizant Technology Solutions Corp. Company Profile

Cognizant Technology Solutions Corporation is a provider of information technology (IT), consulting and business process services. The Company operates through four segments: Financial Services, which includes customers providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers, as well as life sciences customers, including pharmaceutical, biotech and medical device companies; Manufacturing, Retail and Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as customers providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology.

5 Day Chart for NASDAQ:CTSH

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