The stock of Cognizant Technology Solutions Corp (NASDAQ:CTSH) is a huge mover today! The stock decreased 13.25% or $7.29 during the last trading session, hitting $47.71. About 53.40 million shares traded hands or 1147.66% up from the average. Cognizant Technology Solutions Corp (NASDAQ:CTSH) has declined 3.58% since February 26, 2016 and is downtrending. It has underperformed by 14.00% the S&P500.
The move comes after 9 months negative chart setup for the $29.02 billion company. It was reported on Oct, 1 by Barchart.com. We have $43.42 PT which if reached, will make NASDAQ:CTSH worth $2.61B less.
Analysts await Cognizant Technology Solutions Corp (NASDAQ:CTSH) to report earnings on November, 2. They expect $0.75 earnings per share, up 11.94% or $0.08 from last year’s $0.67 per share. CTSH’s profit will be $456.19 million for 15.90 P/E if the $0.75 EPS becomes a reality. After $0.79 actual earnings per share reported by Cognizant Technology Solutions Corp for the previous quarter, Wall Street now forecasts -5.06% negative EPS growth.
Cognizant Technology Solutions Corp (NASDAQ:CTSH) Ratings Coverage
Out of 19 analysts covering Cognizant Technology Solutions Corp. (NASDAQ:CTSH), 14 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 74% are positive. Cognizant Technology Solutions Corp. has been the topic of 29 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Needham maintained Cognizant Technology Solutions Corp (NASDAQ:CTSH) rating on Thursday, August 6. Needham has “Buy” rating and $78 price target. The rating was initiated by Suntrust Robinson on Thursday, September 10 with “Buy”. The stock has “Outperform” rating given by Cowen & Co on Friday, February 19. HSBC initiated the shares of CTSH in a report on Friday, September 30 with “Buy” rating. The company was maintained on Tuesday, August 11 by Argus Research. The firm has “Outperform” rating given on Thursday, August 6 by BMO Capital Markets. The firm earned “Sell” rating on Monday, August 10 by Zacks. The company was maintained on Wednesday, July 20 by Citigroup. CLSA downgraded the shares of CTSH in a report on Wednesday, September 14 to “Underperform” rating. As per Tuesday, February 9, the company rating was maintained by Needham.
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.”
Insitutional Activity: The institutional sentiment increased to 0.97 in 2016 Q2. Its up 0.12, from 0.85 in 2016Q1. The ratio is positive, 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.
Moreover, Summit Securities Gru Ltd Llc has 0.33% invested in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 10,677 shares. Spinnaker accumulated 35,147 shares or 0.28% of the stock. Cipher Cap Limited Partnership last reported 0.25% of its portfolio in the stock. Evercore Wealth Limited Com last reported 2,440 shares in the company. Alta Cap Management Ltd Co has invested 2.81% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH). Origin Asset Llp holds 833,322 shares or 3.18% of its portfolio. The North Carolina-based Retail Bank Of America De has invested 0.08% in Cognizant Technology Solutions Corp (NASDAQ:CTSH). Wfg Advsr L P, a Texas-based fund reported 295 shares. Indiana And Invest holds 15,325 shares or 0.44% of its portfolio. Riggs Asset Managment Co reported 696 shares or 0.02% of all its holdings. Banque Pictet & Cie Sa accumulated 924,859 shares or 1.42% of the stock. Sei Investments holds 0.23% or 661,515 shares in its portfolio. Paloma Mngmt holds 70,970 shares or 0.04% of its portfolio. Forbes J M & Llp has 1.71% invested in the company for 107,853 shares. Tower Bridge Advsrs holds 0% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 186,765 shares.
Insider Transactions: Since April 4, 2016, the stock had 0 insider buys, and 16 sales for $40.06 million net activity. fox John nelson JR sold $759,218 worth of stock or 12,345 shares. $35,553 worth of shares were sold by McLoughlin Karen on Friday, June 10. $1.06 million worth of shares were sold by RAMAKRISHNAN CHANDRASEKARAN on Monday, April 4. Shares for $11.54M were sold by DSOUZA FRANCISCO on Thursday, July 28. $73,007 worth of Cognizant Technology Solutions Corp (NASDAQ:CTSH) was sold by Frank Malcolm on Saturday, September 3. On Friday, June 3 the insider Schwartz Steven sold $410,760. COBURN GORDON sold $1.67M worth of stock.
More notable recent Cognizant Technology Solutions Corp (NASDAQ:CTSH) news were published by: Fool.com which released: “Why Shares of Cognizant Technology Solutions Corp. Slumped Today” on September 30, 2016, also Marketwatch.com with their article: “Cognizant Technology’s stock tumbles after disclosure of internal foreign …” published on September 30, 2016, Reuters.com published: “Cognizant says conducting corruption probe; president replaced” on September 30, 2016. More interesting news about Cognizant Technology Solutions Corp (NASDAQ:CTSH) were released by: Prnewswire.com and their article: “EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims …” published on September 30, 2016 as well as 247Wallst.com‘s news article titled: “Wells Fargo, Cognizant in Friday’s 52-Week Low Club” with publication date: September 30, 2016.
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.
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