In a report sent to investors and clients on Thursday, the firm issued a 'hold' rating. The firm assigned a rating of 'hold' to the stock of this information technology services provider.
Other analysts have also published reports recently on the stock. Morgan Stanley reduced their price target for shares of Cognizant Technology Solutions to $60.00 from $65.00 and assigned the company an 'equal-weight' rating in a research report on Friday, 2nd February. Bank of America reduced their price target on shares of Cognizant Technology Solutions to $55.00 from $59.00 and assigned an underperform rating in a report published on Wednesday, April 19. BMO Capital Markets reduced their price target on shares of Cognizant Technology Solutions in a report published on Thursday, 5th May from $73.00 down to $70.00. In a report published on Thursday, 5th May, 51job reiterated a reiterates rating on Cognizant Technology Solutions shares. Barclays raised their price target on shares of Cognizant Technology Solutions to $53.00 in a report published on Monday, Feb. 6th. They also gave the stock a 'underweight rating'. Five analysts have given the stock a sell recommendation, eleven have given it a hold recommendation and three have given the stock a buy recommendation. On Thursday, the stock opened at $62.76. Cognizant Technology Solutions's 1 year low is $51.33 while its 1 year high is $75.40. The company's market cap is $31.85 billion. It has a P/E of 13.98 and a PEG of 1.30. Beta is 1.10. The company has a moving average for 50 days of $60.13, and a moving average for 200 days of $60.75. The debt-to equity ratio is 0.05. Current ratios are 2.18 and quick ratios are 2.18.
The last time ) released its quarterly results was on May 3rd. The IT service provider posted $1.11 in earnings per share for the third quarter, exceeding analysts' expectations of $1.05 ($0.06) by $0.06. Cognizant Technology Solutions reported a net profit margin of 11.88%, and a return of equity of 18.63%. Revenue for the quarter was $4.81 billion, which is higher than the $4.73 billion consensus estimate. In the same quarter of the previous year, the company earned $1.08 per share. Cognizant Technology Solutions revenue decreased.3% year-over-year. Analysts on the sell-side predict that Cognizant Technology Solutions's earnings per share will be 4.34 for this year.
Insider Buying & Selling
The firm sold 6,926 of its shares in a deal that took place on Monday, 8th May. The shares were purchased at an average of $62.29 for a value of $431.420.54. The director owns now 3,063 shares of the company valued at $190 794.27. Insiders own 0.27%.
Institutional Investors weigh in on Cognizant Technology Solution
Recently, several institutional investors and hedge fund have increased or decreased their stakes. BlackRock Inc. increased its holdings of Cognizant Technology Solutions in the first quarter by 0.4%. BlackRock Inc. owns 57.934,995 of the stock of the information service provider, worth $3.529,979,000, after buying an additional 233.309 shares in the last quarter. Vanguard Group Inc. increased its stake in Cognizant Technology Solutions shares by 0.6% during 3rd Quarter. Vanguard Group Inc. owns 43 512 814 shares in the stock of the IT service provider, valued at $2,499 377,000, after purchasing an additional 273,391 during the last quarter. State Street Corp increased its stake in Cognizant Technology Solutions shares by 2.2% in the first quarter. State Street Corp owns 22,415.954 shares in the stock of the information service provider, valued at $1,365.793,000, after purchasing an additional 473,809 shares over the past quarter. Pzena Investment Management LLC increased its stake in Cognizant Technology Solutions shares by 1.7% during 1st Quarter. Pzena Investment Management LLC owns 17,657.416 shares in the stock of the information service provider, valued at $1,075,866,000, after purchasing an additional 299.737 shares during the previous quarter. Wellington Management Group LLP increased its stake in Cognizant Technology Solutions shares by 43.7% over the first quarter. Wellington Management Group LLP owns 9,917 510 shares in the stock of the information service provider, worth $604,274,000, after acquiring 3,017 452 additional shares during the previous quarter. Hedge funds, other institutional investors and pension funds own 90.12% the stock of the company.
Cognizant Technology Solutions Company profile
Cognizant Technology Solutions Corp. provides information technology, business process outsourcing, and consulting services. It is organized into four business segments: Financial Services, Healthcare, Products and Resources, and Communications, Media, and Technology. Financial Services is made up of insurance and banking services.
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