Cognizant Tech (NASDAQ:CTSH) has been downgraded from Buy to Neutral in a report by Citigroup today.
- Updated: September 30, 2016
Citigroup has downgraded Cognizant Tech (NASDAQ:CTSH) from Buy to Neutral in a report released on 9/30/2016.
Only yesterday Cognizant Tech (NASDAQ:CTSH) traded 0.20% higher at $55.00. The company’s 50-day moving average is $56.23 and its 200-day moving average is $58.85. The last closing price is down -6.53% relative to the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the date range. Trade Volume was up over the average, with 4,911,915 shares of CTSH changing hands over the typical 4,200,070
Cognizant Tech has a PE ratio of 22.18 with a one year low of $51.22 and a one year high of $69.80 Cognizant Tech’s market capitalization is currently $0.
A total of 26 analysts have released a report on the company. 11 brokerages rating the stock a strong buy, 17 firms rating the stock a buy, 3 equity analysts rating the company a hold, zero brokerages rating the company a underperform, and finally zero brokers rating the stock a sell with a average stock price target of $69.50.
Brief Synopsis About 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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