Cognizant Tech (NASDAQ:CTSH) has been downgraded from Buy to Hold in a report by Argus today.
- Updated: September 30, 2016
Argus has downgraded Cognizant Tech (NASDAQ:CTSH) from Buy to Hold in a report released on 09/30/2016.
Displaying a price of $55.00, Cognizant Tech (NASDAQ:CTSH) traded 0.20% higher on the day. With the last stock price close down -6.53% from the two hundred day average, compared with the Standard & Poor's 500 Index which has decreased -0.01% over the date range. CTSH has recorded a 50-day moving average of $56.23 and a 200-day moving average of $58.85. 4,911,915 shares of Cognizant Tech exchanged hands, up from an avg. volume of 4,200,070
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With a market capitalization of $0, Cognizant Tech has 52 week low of $51.22 and a 52 week high of $69.80 with a PE ratio of 22.18 .
In addition to Argus reporting its stock price target, a total of 26 equity analysts have released a ratings update on the stock. The consensus target price is $69.50 with eleven equity analysts rating the company a strong buy, seventeen brokerages rating the stock a buy, 3 brokers rating the stock a hold, zero equity analysts rating the company a underperform, and lastly zero analysts rating the company a sell.
Brief Synopsis On Cognizant Tech (NASDAQ:CTSH)
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. The Company's competencies include business, process, operations and IT consulting, application development and systems integration, enterprise information management, application testing, application maintenance and IT infrastructure services.
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