Goldman Sachs Group Inc. downgraded shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) from a buy rating to a neutral rating in a report published on Thursday morning. They currently have $61.00 target price on the information technology service provider’s stock, down from their prior target price of $68.00.

Analyst Recommendations for Cognizant Technology Solutions Corp. (NASDAQ:CTSH)

A number of other research firms also recently commented on CTSH. Nomura downgraded Cognizant Technology Solutions Corp. from a buy rating to a neutral rating and cut their price objective for the stock from $65.00 to $62.00 in a report on Monday, August 8th. Wedbush started coverage on Cognizant Technology Solutions Corp. in a report on Thursday, September 8th. They issued a neutral rating and a $65.00 price objective on the stock. Needham & Company LLC cut their price objective on 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. JPMorgan Chase & Co. restated a buy rating and issued a $62.00 price objective on shares of Cognizant Technology Solutions Corp. in a report on Wednesday, August 3rd. Finally, Barclays PLC lowered their target price on Cognizant Technology Solutions Corp. from $70.00 to $66.00 and set an overweight rating for the company in a research note on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of $66.87.

Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 53.33 on Thursday. Cognizant Technology Solutions Corp. has a 1-year low of $51.22 and a 1-year high of $69.80. The firm has a 50-day moving average of $57.17 and a 200 day moving average of $59.01. The company has a market capitalization of $32.37 billion, a P/E ratio of 21.50 and a beta of 1.28.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last released its quarterly earnings data on Friday, August 5th. The information technology service provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.37 billion. Cognizant Technology Solutions Corp. had a return on equity of 19.31% and a net margin of 11.65%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the business posted $0.79 EPS. On average, equities research analysts expect that Cognizant Technology Solutions Corp. will post $3.37 earnings per share for the current year.

In other Cognizant Technology Solutions Corp. news, CEO Francisco Dsouza sold 300,000 shares of Cognizant Technology Solutions Corp. stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $58.32, for a total transaction of $17,496,000.00. Following the sale, the chief executive officer now owns 422,602 shares of the company’s stock, valued at approximately $24,646,148.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Karen Mcloughlin sold 20,000 shares of Cognizant Technology Solutions Corp. stock in a transaction on Friday, August 5th. The shares were sold at an average price of $60.00, for a total value of $1,200,000.00. Following the sale, the chief financial officer now directly owns 60,741 shares in the company, valued at approximately $3,644,460. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CTSH. Washington Trust Bank boosted 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 during the period. Exane Derivatives boosted its position in shares of Cognizant Technology Solutions Corp. by 29.0% in the first quarter. Exane Derivatives now owns 1,862 shares of the information technology service provider’s stock valued at $117,000 after buying an additional 419 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Cognizant Technology Solutions Corp. during the second quarter valued at about $123,000. First Manhattan Co. boosted 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 during the period. Finally, Assetmark Inc. boosted 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 during the period. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

About Cognizant Technology Solutions Corp.

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

Receive News & Ratings for Cognizant Technology Solutions Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions Corp. and related companies with MarketBeat.com's FREE daily email newsletter.