The stock of Cognizant Technology Solutions Corp (NASDAQ:CTSH) is a huge mover today! About 7.59M shares traded hands or 27.56% up from the average. Cognizant Technology Solutions Corp (NASDAQ:CTSH) has declined 16.27% since February 29, 2016 and is downtrending. It has underperformed by 28.48% the S&P500.
The move comes after 7 months positive chart setup for the $26.79B company. It was reported on Oct, 3 by Barchart.com. We have $72.26 PT which if reached, will make NASDAQ:CTSH worth $11.25B more.
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 $394.90 million for 16.96 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), 13 rate it a “Buy”, 1 “Sell”, while 5 “Hold”. This means 68% are positive. Cognizant Technology Solutions Corp. has been the topic of 30 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was maintained by Needham on Thursday, August 6 with “Buy”. The stock of Cognizant Technology Solutions Corp (NASDAQ:CTSH) earned “Outperform” rating by RBC Capital Markets on Tuesday, February 9. The firm earned “Buy” rating on Tuesday, February 9 by Needham. The stock has “Neutral” rating given by Sterne Agee CRT on Thursday, December 17. The firm has “Underperform” rating given on Wednesday, September 14 by CLSA. The stock of Cognizant Technology Solutions Corp (NASDAQ:CTSH) has “Neutral” rating given on Friday, September 9 by Wedbush. On Tuesday, August 11 the stock rating was maintained by Argus Research with “Buy”. Monness Crespi & Hardt maintained Cognizant Technology Solutions Corp (NASDAQ:CTSH) rating on Thursday, November 5. Monness Crespi & Hardt has “Buy” rating and $77 price target. The firm earned “Outperform” rating on Thursday, August 6 by BMO Capital Markets. Citigroup downgraded the stock to “Neutral” rating in Friday, September 30 report.
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.
Bridges Counsel holds 29,130 shares or 0.31% of its portfolio. Bessemer Gp holds 1.72 million shares or 0.54% of its portfolio. Rockefeller Svcs last reported 750 shares in the company. Moreno Evelyn V owns 99,950 shares or 2.17% of their US portfolio. X Limited Liability Corp holds 0% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 84 shares. Keybank National Association Oh last reported 0.08% of its portfolio in the stock. Moreover, Assetmark Inc has 0% invested in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 2,699 shares. Samlyn Cap Ltd Llc accumulated 0.45% or 327,900 shares. Bluecrest Cap Ltd holds 0.05% of its portfolio in Cognizant Technology Solutions Corp (NASDAQ:CTSH) for 19,353 shares. Louisiana State Employees Retirement System accumulated 0.12% or 39,800 shares. Raymond James Svcs Advsrs accumulated 0.08% or 144,524 shares. Eagle Ridge Inv Mngmt last reported 104,302 shares in the company. Meiji Yasuda Asset Mgmt accumulated 12,742 shares or 0.1% of the stock. Boston Family Office Llc holds 0.03% or 3,840 shares in its portfolio. Dsm Cap Limited Liability Corporation holds 3.71M shares or 3.66% of its portfolio.
Insider Transactions: Since April 4, 2016, the stock had 0 buys, and 16 sales for $40.06 million net activity. 6,846 Cognizant Technology Solutions Corp (NASDAQ:CTSH) shares with value of $410,760 were sold by Schwartz Steven. $759,218 worth of Cognizant Technology Solutions Corp (NASDAQ:CTSH) was sold by fox John nelson JR on Tuesday, May 10. $102,148 worth of shares were sold by McLoughlin Karen on Wednesday, June 8. Shares for $1.00M were sold by RAMAKRISHNAN CHANDRASEKARAN on Friday, May 20. 27,119 shares were sold by COBURN GORDON, worth $1.67 million. Frank Malcolm also sold $35,330 worth of Cognizant Technology Solutions Corp (NASDAQ:CTSH) shares. Another trade for 200,000 shares valued at $11.54 million was made by DSOUZA FRANCISCO on Thursday, July 28.
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, Prnewswire.com published: “Johnson & Weaver, LLP Initiates Investigations of Cognizant Technology …” on October 03, 2016. More interesting news about Cognizant Technology Solutions Corp (NASDAQ:CTSH) were released by: Prnewswire.com and their article: “SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of …” published on September 30, 2016 as well as Prnewswire.com‘s news article titled: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” 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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