Rating to Follow: William Blair Says Its Time To Downgrade Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

November 23, 2016 - By Marie Mckinney

Rating to Follow: William Blair Says Its Time To Downgrade Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Downgrade

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) was decreased by William Blair from a Outperform rating to a Market Perform rating in a a research report revealed to investors on Wednesday morning.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) Ratings Coverage

Out of 20 analysts covering Cognizant Technology Solutions Corp. (NASDAQ:CTSH), 13 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 65% are positive. $82 is the highest target while $48 is the lowest. The $65.85 average target is 26.56% above today’s ($52.03) stock price. Cognizant Technology Solutions Corp. has been the topic of 34 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating given on Friday, September 30 by Citigroup. The firm has “Buy” rating by Suntrust Robinson given on Thursday, September 10. The company was maintained on Wednesday, July 20 by Citigroup. On Thursday, September 10 the stock rating was initiated by SunTrust with “Buy”. The firm has “Hold” rating given on Friday, September 30 by Argus Research. The company was maintained on Monday, October 3 by Citigroup. Bank of America downgraded the stock to “Underperform” rating in Tuesday, November 22 report. The firm earned “Underperform” rating on Wednesday, September 14 by CLSA. Jefferies maintained the stock with “Buy” rating in Monday, October 10 report. RBC Capital Markets maintained the stock with “Outperform” rating in Tuesday, February 9 report.

About 5.81 million shares traded hands. Cognizant Technology Solutions Corp (NASDAQ:CTSH) has declined 11.44% since April 21, 2016 and is downtrending. It has underperformed by 16.77% the S&P500.

Insitutional Activity: The institutional sentiment decreased to 0.93 in 2016 Q2. Its down 0.04, from 0.97 in 2016Q1. The ratio is negative, as 65 funds sold all Cognizant Technology Solutions Corp shares owned while 291 reduced positions. 67 funds bought stakes while 278 increased positions. They now own 506.90 million shares or 5.36% less from 535.62 million shares in 2016Q1.

Lba Wealth Management Ltd Liability Corporation last reported 0.01% of its portfolio in the stock. Zebra Capital Management Ltd Liability Corp last reported 0.31% of its portfolio in the stock. Louisiana State Employees Retirement Sys holds 0.12% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 39,800 shares. Clearbridge Investments Limited Liability Company holds 1,000 shares or 0% of its portfolio. Fulton Comml Bank Na has 0.14% invested in the company for 25,690 shares. Institutional Capital Ltd Liability Com has 0.7% invested in the company for 995,777 shares. Etrade Cap Mngmt Lc holds 0.13% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 44,282 shares. Wedgewood Partners holds 6.52% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 5.62M shares. Axa has 340,301 shares for 0.09% of their US portfolio. Reliance Tru Of Delaware last reported 26,575 shares in the company. Cornerstone Advsrs accumulated 266 shares or 0.02% of the stock. Motley Fool Wealth Limited Liability Company holds 0.71% or 113,058 shares in its portfolio. Sii Wi has 0.04% invested in the company for 8,268 shares. Glg Limited Co accumulated 0.13% or 30,278 shares. Blackrock accumulated 1.33 million shares or 0.11% of the stock.

Insider Transactions: Since June 3, 2016, the stock had 0 insider purchases, and 12 selling transactions for $33.34 million net activity. Shares for $1.38M were sold by COBURN GORDON. McLoughlin Karen sold $102,148 worth of stock or 1,671 shares. Another trade for 6,846 shares valued at $410,760 was sold by Schwartz Steven. On Monday, July 25 DSOUZA FRANCISCO sold $17.49 million worth of the stock or 300,000 shares. Frank Malcolm sold 8,780 shares worth $526,457.

Cognizant Technology Solutions Corporation is a well-known provider of information technology , consulting and business process services. The company has a market cap of $30.47 billion. The Firm operates through four divisions: Financial Services, which includes clients 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 clients providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology. It has a 20.35 P/E ratio.

According to Zacks Investment Research, “Cognizant Technology Solutions delivers high-quality, cost-effective, full life cycle solutions to complex software development and maintenance problems that companies face as they transition to e-business. These services are delivered through the use of a seamless on-site and offshore consulting project team. The company’s solutions include application development and integration, application management, re-engineering, and mass change services.”

CTSH Company Profile

Cognizant Technology Solutions Corporation, incorporated on April 6, 1988, is a well-known provider of information technology (IT), consulting and business process services. The Firm operates through four divisions: Financial Services, which includes clients 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 clients providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology. The Company’s competencies include business, process, activities and IT consulting, application development and systems integration, enterprise information management, application testing, application maintenance and IT infrastructure services.

More news for Cognizant Technology Solutions Corp (NASDAQ:CTSH) were recently published by: Northjersey.com, which released: “More fallout from Cognizant bribes probe” on November 07, 2016. Prnewswire.com‘s article titled: “SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces an Investigation of …” and published on November 17, 2016 is yet another important article.

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