Cognizant Technology Solutions (NASDAQ:CTSH) Raised to Hold at Mizuho

Cognizant Technology Solutions (NASDAQ:CTSH) was upgraded by Mizuho to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets lifted their target price on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday, February 6th. Barclays lifted their target price on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Royal Bank of Canada lifted their target price on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Morgan Stanley cut their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 12th. Finally, UBS Group cut their price objective on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday. Fifteen analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $83.71.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ CTSH opened at $77.21 on Wednesday. Cognizant Technology Solutions has a twelve month low of $63.79 and a twelve month high of $90.82. The firm has a market cap of $38.19 billion, a P/E ratio of 17.12, a PEG ratio of 2.11 and a beta of 1.12. The company has a 50 day moving average of $82.64 and a 200 day moving average of $79.44. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. As a group, research analysts expect that Cognizant Technology Solutions will post 4.98 EPS for the current fiscal year.

Institutional Trading of Cognizant Technology Solutions

Several hedge funds have recently bought and sold shares of CTSH. Thrivent Financial for Lutherans lifted its stake in Cognizant Technology Solutions by 17.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 25,931 shares of the information technology service provider’s stock worth $2,001,000 after purchasing an additional 3,917 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Cognizant Technology Solutions in the 3rd quarter worth $1,403,000. PNC Financial Services Group Inc. lifted its stake in Cognizant Technology Solutions by 5.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 119,570 shares of the information technology service provider’s stock worth $9,228,000 after purchasing an additional 6,626 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Cognizant Technology Solutions in the 3rd quarter worth $734,000. Finally, First Horizon Advisors Inc. lifted its stake in Cognizant Technology Solutions by 5.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 5,638 shares of the information technology service provider’s stock worth $435,000 after purchasing an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Company Profile

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.