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

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

Several other research analysts have also recently issued reports on CTSH. Morgan Stanley cut their price target on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, March 12th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. Barclays increased their price target on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. UBS Group cut their price target on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a report on Monday. Finally, BMO Capital Markets increased their price target on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, February 6th. Fifteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and an average target price of $83.71.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $77.21 on Wednesday. Cognizant Technology Solutions has a fifty-two week low of $63.79 and a fifty-two week high of $90.82. The company has a market capitalization of $38.19 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.11 and a beta of 1.12. The firm has a 50-day simple moving average of $82.64 and a 200-day simple moving average of $79.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. On average, equities research analysts anticipate that Cognizant Technology Solutions will post 4.98 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Duncker Streett & Co. Inc. purchased a new stake in Cognizant Technology Solutions in the 4th quarter worth approximately $28,000. Trust Co. of Vermont grew its stake in Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after acquiring an additional 292 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Cognizant Technology Solutions in the 4th quarter worth approximately $36,000. Park Square Financial Group LLC purchased a new stake in Cognizant Technology Solutions in the 4th quarter worth approximately $36,000. Finally, Spire Wealth Management grew its stake in Cognizant Technology Solutions by 74.7% in the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after acquiring an additional 204 shares during the period. 92.44% of the stock is 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 in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.