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CTSH

Cognizant

$59.59

0.34 (0.57%)

06:26
05/07/19
05/07
06:26
05/07/19
06:26

Cognizant expands R&D partnership with Aveva

Cognizant announced that it has expanded its research and development, or R&D, partnership with Aveva to develop industrial software. The multi-year, multi-million-dollar deal will help customers modernize and implement digital technologies. Cognizant's experts will work in close collaboration with Aveva's industry experts to design and build a wide range of engineering and industrial software. The products will span the entire engineering lifecycle, including simulations, design, construction, commissioning, planning, operations management, monitoring and control, as well as performance optimization. Cognizant experts will collaborate with Aveva to accelerate time-to-market for the new software.

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CTSH Cognizant
$59.59

0.34 (0.57%)

05/03/19
KEYB
05/03/19
DOWNGRADE
KEYB
Sector Weight
Cognizant downgraded to Sector Weight from Overweight at KeyBanc
KeyBanc analyst Arvind Ramnani downgraded Cognizant to Sector Weight from Overweight following the company's "disappointing" Q1 revenues, driven by weakness in financial services and healthcare. The magnitude of the FY19 guide down was material at ~$590M, Ramnani notes in a research note to investors, adding that revised guidance assumes only 2.7% growth, down from 6.5% previously at the midpoint. Further, long-term targets that were set in late-2019 are likely to be lowered, the analyst says.
05/03/19
WEDB
05/03/19
DOWNGRADE
Target $70
WEDB
Neutral
Cognizant downgraded to Neutral from Outperform at Wedbush
Wedbush analyst Moshe Katri downgraded Cognizant to Neutral from Outperform and lowered its price target to $70 from $80 following the company's Q1 results. Additionally, shares were removed from the firm's Best Ideas List. In a research note to investors, Katri says the downgrade reflects the Q1 miss, as well as the company's new CEO's decision to essentially walk away from the company's financial targets that were provided to the Street back in November 2018, during Cognizant's first ever investor event. This, combined with ongoing plans to restructure and disrupt internal processes such as aligning the sales effort/the company's cost structure, combined with likely management changes, potentially creates near-term transitional challenges, while also shattering investor confidence.
05/03/19
NEED
05/03/19
DOWNGRADE
NEED
Hold
Cognizant downgraded two notches to Hold from Strong Buy at Needham
Needham analyst Mayank Tandon issued a double-downgrade on Cognizant to Hold from Strong Buy after its "disappointing" Q1 earnings and revenue miss along with a cut to its FY19 forecast, driven by "incremental softness" in the healthcare and financial services verticals. The analyst believes that the spending cuts on legacy services by certain clients was "exacerbated by consolidation activity within healthcare" and expects the "incremental softness" to persist into FY20. After yesterday's 7.8% stock price decline however, Tandon expects further downside in shares to be limited.
05/03/19
05/03/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Yeti (YETI) downgraded to Neutral from Buy at Goldman Sachs with analyst Alexandra Walvis saying the company's "strong" sales and brand momentum are now better understood by investors. 2. Electronic Arts (EA) downgraded to Neutral at MKM Partners on valuation with analyst Eric Handler saying the risk-reward on the stock appears to be "less compelling." 3. Cognizant (CTSH) downgraded to Market Perform from Outperform at William Blair, to Underweight from Neutral at JPMorgan, to Neutral from Buy at Goldman Sachs, to Perform from Outperform at Oppenheimer, to Sector Weight from Overweight at KeyBanc, to Neutral from Outperform at Wedbush and to Hold from Strong Buy at Needham after the company's earnings and guidance missed consensus estimates. 4. Target (TGT) downgraded to Market Perform from Outperform at Bernstein with analyst Brandon Fletcher saying he thinks Target's continued emphasis on growth over cost containment is a "less wise" stance at this point. 5. Achillion (ACHN) downgraded to Underweight from Equal Weight at Barclays with analyst Geoffrey Meacham seeing a lack of near- to mid-term catalysts that are capable of changing the story on the stock. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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ESV

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AMGN

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, GILD

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BBX

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, BXG

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