Cognizant Technology Solutions Corp Downgraded by Susquehanna to Neutral (CTSH)
Cognizant Technology Solutions Corp (NASDAQ:CTSH) was downgraded by Susquehanna from a “positive” rating to a “neutral” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. They currently have a $55.00 price objective on the stock. Susquehanna’s target price would suggest a potential upside of 10.40% from the company’s current price. The analysts noted that the move was a valuation call.
In other Cognizant Technology Solutions Corp news, CAO Steven Schwartz sold 6,647 shares of the company’s stock on the open market in a transaction dated Friday, June 6th. The stock was sold at an average price of $49.79, for a total value of $330,954.13. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at 49.82 on Tuesday. Cognizant Technology Solutions Corp has a 52-week low of $30.46 and a 52-week high of $54.00. The stock has a 50-day moving average of $48.49 and a 200-day moving average of $49.13. The company has a market cap of $30.313 billion and a price-to-earnings ratio of 23.56.
A number of other firms have also recently commented on CTSH. Analysts at Deutsche Bank cut their price target on shares of Cognizant Technology Solutions Corp in a research note on Friday, May 9th. Separately, analysts at Societe Generale cut their price target on shares of Cognizant Technology Solutions Corp from $60.00 to $58.00 in a research note on Friday, May 9th. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Cognizant Technology Solutions Corp in a research note on Thursday, May 8th. They now have a $63.00 price target on the stock, down previously from $64.00. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $45.57.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is a provider of custom information technology, consulting and business process outsourcing services.
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