William Blair downgraded shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) from an outperform rating to a market perform rating in a research note released on Wednesday.

Several other equities research analysts also recently commented on CTSH. Vetr downgraded shares of Cognizant Technology Solutions Corp. from a strong-buy rating to a buy rating and set a $60.28 price objective on the stock. in a report on Monday, November 7th. Needham & Company LLC dropped their price objective on shares of Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a buy rating on the stock in a report on Monday, August 8th. Deutsche Bank AG reaffirmed a buy rating and set a $69.00 price objective on shares of Cognizant Technology Solutions Corp. in a report on Friday, October 21st. Cantor Fitzgerald set a $68.00 price objective on shares of Cognizant Technology Solutions Corp. and gave the company a buy rating in a report on Friday, August 5th. Finally, Goldman Sachs Group Inc. downgraded shares of Cognizant Technology Solutions Corp. from a buy rating to a neutral rating and dropped their price objective for the company from $68.00 to $61.00 in a report on Thursday, September 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $64.99.

Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) remained flat at $51.86 during midday trading on Wednesday. 11,782,804 shares of the company traded hands. The firm’s 50 day moving average price is $52.05 and its 200 day moving average price is $56.59. The stock has a market cap of $31.46 billion, a PE ratio of 20.26 and a beta of 1.34. Cognizant Technology Solutions Corp. has a 52 week low of $45.44 and a 52 week high of $65.91.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last released its quarterly earnings data on Monday, November 7th. The information technology service provider reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The business had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.46 billion. Cognizant Technology Solutions Corp. had a net margin of 11.78% and a return on equity of 19.42%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. On average, equities research analysts anticipate that Cognizant Technology Solutions Corp. will post $3.37 earnings per share for the current year.

In other Cognizant Technology Solutions Corp. news, VP Malcolm Frank sold 1,248 shares of the firm’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $58.50, for a total transaction of $73,008.00. Following the completion of the transaction, the vice president now owns 3,945 shares of the company’s stock, valued at $230,782.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Karen Mcloughlin sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $51.27, for a total value of $512,700.00. Following the transaction, the chief financial officer now directly owns 52,614 shares of the company’s stock, valued at approximately $2,697,519.78. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in CTSH. Washington Trust Bank raised its position in shares of Cognizant Technology Solutions Corp. by 6.8% in the second quarter. Washington Trust Bank now owns 1,789 shares of the information technology service provider’s stock valued at $102,000 after buying an additional 114 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Cognizant Technology Solutions Corp. during the second quarter valued at approximately $123,000. Exane Derivatives raised its position in shares of Cognizant Technology Solutions Corp. by 22.3% in the second quarter. Exane Derivatives now owns 2,278 shares of the information technology service provider’s stock valued at $130,000 after buying an additional 416 shares in the last quarter. First Manhattan Co. raised its position in shares of Cognizant Technology Solutions Corp. by 16.8% in the second quarter. First Manhattan Co. now owns 2,523 shares of the information technology service provider’s stock valued at $144,000 after buying an additional 363 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of Cognizant Technology Solutions Corp. by 29.4% in the second quarter. Assetmark Inc. now owns 2,699 shares of the information technology service provider’s stock valued at $154,000 after buying an additional 613 shares in the last quarter. 85.29% of the stock is owned by institutional investors and hedge funds.

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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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