A number of firms have modified their ratings and price targets on shares of Cognizant Technology Solutions Corp. (NASDAQ: CTSH) recently:

  • 9/21/2016 – Cognizant Technology Solutions Corp. was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Cognizant has been seeing downward estimate revisions of late. The company's business has been affected because of persisting macroeconomic headwinds and sluggish spending levels in its healthcare and financial sector, which are its biggest markets. The company had even lowered its revenue outlook for 2016 given these factors. Intense competition in the IT service industry, rising wages and customer concentration are other challenges. Nonetheless, the company is expected to benefit from strong demand for high quality, lower cost technology services. In addition, it has placed itself well to benefit from the ongoing digitization of businesses. Also, acquisitions will continue to play an important role in boosting revenues. “
  • 9/15/2016 – Cognizant Technology Solutions Corp. was downgraded by analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating. They now have a $61.00 price target on the stock, down previously from $68.00.
  • 9/15/2016 – Cognizant Technology Solutions Corp. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Cognizant's business has been affected because of persisting macroeconomic headwinds and sluggish spending levels in its healthcare and financial sector, which are its biggest markets. The company had even lowered its revenue outlook for 2016 given these factors. Intense competition in the IT service industry, rising wages and customer concentration are other challenges. Nonetheless, the company is expected to benefit from strong demand for high quality, lower cost technology services. In addition, it has placed itself well to benefit from the ongoing digitization of businesses. Also, acquisitions will continue to play an important role in boosting revenues. “
  • 9/14/2016 – Cognizant Technology Solutions Corp. was downgraded by analysts at Credit Agricole SA from an “outperform” rating to an “underperform” rating. They now have a $60.00 price target on the stock, down previously from $70.00.
  • 9/12/2016 – Cognizant Technology Solutions Corp. was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $65.33 price target on the stock.
  • 9/8/2016 – Cognizant Technology Solutions Corp. is now covered by analysts at Wedbush. They set a “neutral” rating and a $65.00 price target on the stock.
  • 9/7/2016 – Cognizant Technology Solutions Corp. had its “buy” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $68.00 price target on the stock.
  • 9/5/2016 – Cognizant Technology Solutions Corp. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $65.33 price target on the stock.
  • 8/22/2016 – Cognizant Technology Solutions Corp. was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Cognizant reported decent second-quarter 2016 results with earnings surpassing expectations and revenues coming in line with the Zacks Consensus Estimate. However, the company lowered its revenue outlook for 2016 citing persisting macroeconomic headwinds and sluggish spending levels in its healthcare and financial sector, which are its biggest markets.  Intense competition in the IT service industry, rising wages and customer concentration also remain concerns. Nonetheless, Cognizant is expected to benefit from strong demand for high quality, lower cost technology services. In addition, it has placed itself well to benefit from the ongoing digitization of businesses. The company already has its own platform named Digital Works to provide integratedofferings for meeting this requirement.”
  • 8/8/2016 – Cognizant Technology Solutions Corp. was downgraded by analysts at Nomura from a “buy” rating to a “neutral” rating. They now have a $62.00 price target on the stock, down previously from $65.00.
  • 8/8/2016 – Cognizant Technology Solutions Corp. had its price target lowered by analysts at Needham & Company LLC from $70.00 to $68.00. They now have a “buy” rating on the stock.
  • 8/5/2016 – Cognizant Technology Solutions Corp. was given a new $68.00 price target on by analysts at Cantor Fitzgerald. They now have a “buy” rating on the stock. They wrote, “2Q:16 revenues in line and non-GAAP EPS ahead of expectations. Revenue for 2Q:16 was $3.37 bn, up 5.2% q/q and 9.2% y/y, in line with our estimate of $3.37 bn and the FactSet consensus of the same. Non-GAAP operating margin was 20.3%, above the top end of the 19-20% targeted range. Non-GAAP EPS, which excludes stock-based compensation, acquisition related charges, and effect of non-operating FX adjustments, was $0.87, vs. the consensus of $0.82, and guidance of $0.80-0.82. Our Performance Table is on pg. 2. Manufacturing leads growth. By vertical, Healthcare (29% of revenue) grew 4.9% q/q and 6.9% y/y. BFSI (40% of revenue) grew 5.1% q/q and 8.1% y/y.””
  • 8/3/2016 – Cognizant Technology Solutions Corp. had its “buy” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $62.00 price target on the stock. They wrote, “We see a mildly positive risk-reward surrounding much anticipated 2Q results for CTSH on Aug 5 th . A lot has happened since CTSH reported 1Q results, including delays in large health client M&A, Brexit and India peers reporting lackluster 2Q results, we believe pushing CTSH shares down 3.5% vs. S&P 500 +5.3% and a basket of India ITS firms +1%. We expect in line 2Q results with growth nicely above peers. However, given macro headwinds, we think CTSH could cut its CY16 revenue growth guidance to the low end of the prior range. We believe these headwinds will eventually fade and see growth acceleration in FY17 to 12% (prior 14%) compared to 10% (prior 11%) in FY16. We remain OW as CTSH should continue to gain share through investments in Digital/BPaaS in the maturing offshore ITS industry.””
  • 7/25/2016 – Cognizant Technology Solutions Corp. had its “buy” rating reaffirmed by analysts at Jefferies Group. They now have a $70.00 price target on the stock.

Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 0.21% during midday trading on Wednesday, hitting $53.07. The stock had a trading volume of 1,067,689 shares. The firm has a market cap of $32.21 billion, a price-to-earnings ratio of 21.40 and a beta of 1.28. The firm has a 50-day moving average price of $57.01 and a 200-day moving average price of $58.98. Cognizant Technology Solutions Corp. has a 1-year low of $51.22 and a 1-year high of $69.80.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last released its quarterly earnings data on Friday, August 5th. The information technology service provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.05. The business earned $3.37 billion during the quarter, compared to analyst estimates 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 revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company posted $0.79 EPS. On average, equities analysts anticipate that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current fiscal year.

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In other news, VP Malcolm Frank sold 1,248 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $58.50, for a total value of $73,008.00. Following the completion of the sale, the vice president now owns 3,945 shares in the company, valued at $230,782.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Francisco Dsouza sold 300,000 shares of the stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $58.32, for a total value of $17,496,000.00. Following the completion of the sale, the chief executive officer now owns 422,602 shares of the company’s stock, valued at approximately $24,646,148.64. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

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

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