UBS Group Lowers Cognizant Technology Solutions (NASDAQ:CTSH) to Sell

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UBS Group lowered shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a neutral rating to a sell rating in a research note released on Friday morning, BenzingaRatingsTable reports. UBS Group currently has $60.00 price target on the information technology service provider’s stock, down from their prior price target of $62.00.

A number of other research firms also recently issued reports on CTSH. Nomura downgraded shares of Cognizant Technology Solutions to a hold rating in a research report on Friday, May 3rd. Goldman Sachs Group downgraded shares of Cognizant Technology Solutions from a buy rating to a neutral rating and reduced their price target for the stock from $84.00 to $64.00 in a research report on Friday, May 3rd. Morgan Stanley set a $64.00 price target on shares of Cognizant Technology Solutions and gave the stock a sell rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. downgraded shares of Cognizant Technology Solutions from a neutral rating to an underweight rating and cut their price objective for the company from $83.00 to $65.00 in a research report on Friday, May 3rd. Finally, Daiwa Capital Markets downgraded shares of Cognizant Technology Solutions from a buy rating to a hold rating in a research report on Tuesday, May 7th. Five investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $74.48.

Cognizant Technology Solutions stock opened at $62.04 on Friday. The business has a 50-day simple moving average of $64.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.55 and a current ratio of 2.55. Cognizant Technology Solutions has a 1 year low of $56.73 and a 1 year high of $78.83. The company has a market cap of $36.14 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.59 and a beta of 1.01.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. Cognizant Technology Solutions had a net margin of 12.61% and a return on equity of 20.52%. The company had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same period last year, the firm posted $1.05 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities analysts expect that Cognizant Technology Solutions will post 3.95 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $0.80 annualized dividend and a yield of 1.29%. Cognizant Technology Solutions’s payout ratio is 19.90%.

In other Cognizant Technology Solutions news, EVP Allen Shaheen sold 1,369 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $60.16, for a total transaction of $82,359.04. Following the transaction, the executive vice president now owns 3,073 shares of the company’s stock, valued at approximately $184,871.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Robert Telesmanic sold 2,484 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $65.00, for a total transaction of $161,460.00. Following the transaction, the senior vice president now directly owns 7,337 shares in the company, valued at approximately $476,905. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,120 shares of company stock worth $2,960,866. 0.56% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. State of Tennessee Treasury Department increased its stake in Cognizant Technology Solutions by 54.0% during the 1st quarter. State of Tennessee Treasury Department now owns 231,079 shares of the information technology service provider’s stock valued at $16,742,000 after buying an additional 81,027 shares during the period. Signition LP acquired a new position in shares of Cognizant Technology Solutions in the 1st quarter worth approximately $593,000. FMR LLC grew its stake in shares of Cognizant Technology Solutions by 21.9% in the 1st quarter. FMR LLC now owns 15,767,608 shares of the information technology service provider’s stock worth $1,142,362,000 after purchasing an additional 2,827,833 shares during the last quarter. Exane Derivatives grew its stake in shares of Cognizant Technology Solutions by 16,331.5% in the 1st quarter. Exane Derivatives now owns 29,248 shares of the information technology service provider’s stock worth $2,118,000 after purchasing an additional 29,070 shares during the last quarter. Finally, Motco grew its stake in shares of Cognizant Technology Solutions by 5.9% in the 1st quarter. Motco now owns 68,773 shares of the information technology service provider’s stock worth $4,982,000 after purchasing an additional 3,857 shares during the last quarter. 88.80% of the stock is currently owned by hedge funds and other institutional investors.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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