How Sterne Agee CRT Currently Rates Cognizant Tech (NASDAQ:CTSH)
Analysts at Sterne Agee CRT began issuing coverage for shares of Cognizant Tech (NASDAQ:CTSH) in a very recent research note made public on Thursday morning. The brokerage set a Neutral rating on the $37.95 billion market cap firm.
From a total of 25 analysts covering Cognizant Technology Solutions Corp. (NASDAQ:CTSH) stock, 28 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 93% of the ratings are positive. The highest target price is $85 while the lowest target price is $68. The mean of all analyst targets is $75.36 with a 27.53% above today’s ($61.16) stock price. Cognizant Technology Solutions Corp. was the topic of 12 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. Monness Crespi & Hardt maintained shares on November 5 with “Buy” rating. BMO Capital Markets maintained shares with “Outperform” rating and $74 target share price in a report from an August 6. Suntrust Robinson initiated CTSH stock in a recent report from September 10 with “Buy” rating. Needham maintained the rating on August 6. Needham has a “Buy” rating and a $78 price target on shares. Finally, Argus Research maintained the stock with “Buy” rating in a report issued on an August 11.
Approximately 1.03 million shares of stock traded hands. Cognizant Technology Solutions Corp (NASDAQ:CTSH) has declined 2.19% since May 14, 2015 and is downtrending. It has outperformed by 0.07% the S&P500.
The overall sentiment of institutions has increased to 1.18 in Q2 2015. Its up 0.18, from 1 in 2015Q2. The ratio is positive, as 55 institutions have sold all the shares of Cognizant Technology Solutions Corp that they owned while 282 funds have taken shares off the table. 87 funds have purchased shares for the first time while 311 added to their positions. These institutions now hold 544.90 million shares or 1.53% more than the 536.70 million shares they owned in 2015Q2.
The Fund New Vernon Capital Holdings Ii Llc currently is holding shares equating to 37.45% of its total portfolio in Cognizant Technology Solutions Corp representing a total of 38,000 shares. Another fund,Genesis Asset Managers Llp, is holding a total of 9.21 million shares equating to 24.65% of their holdings. Additionally, Provident Trust Co has a 3.99 million share stake in Cognizant Technology Solutions Corp which represents 14.06% of their total portfolio. The Fund, Cortland Associates Inc Mo, based out of Missouri, has also built up a stake in the stock, which represents a total of 10.56% of their total portfolio. Finally Standard Pacific Capital Llc Ca, a fund which is based in the state of California reported a total holdings of 128,908 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 9, 2015, shareholders of Cognizant Technology Solutions Corp have witnessed 0 buys, and a total of 10 insider sales equating to a net activity of approximately $3.63 million . Sinha Dharmendra Kumar sold 1,858 shares worth approximately $126,344. Mcloughlin Karen sold 1,393 shares worth approximately $88,804. Schwartz Steven sold 958 shares worth approximately $60,364. Frank Malcolm sold 2,041 shares worth approximately $126,346. The company insider Coburn Gordon sold 6,446 shares worth $398,105.
Cognizant Technology Solutions Corporation is a well-known provider of information technology , consulting and business process services. The company has a market cap of $37.94 billion. The Firm operates in four divisions: Financial Services segment, which include banking and insurance; Healthcare segment, which includes healthcare and life sciences, and Manufacturing/Retail/Logistics segment, which includes manufacturing and logistics; retail, travel and hospitality, and consumer goods and Other segment, which includes Communications, Manufacturing/Retail/Logistics, and High Technology. It has 24 P/E ratio. The Companies competencies include business, process, activities and IT consulting, application development and systems integration, enterprise information management (EIM), application testing, application maintenance, IT infrastructure services (IT IS) and business process services (BPS).
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.”