Cognizant Technology Solutions Corp. (NASDAQ:CTSH) had its price target cut by Jefferies Group from $70.00 to $63.00 in a research report report published on Monday. They currently have a buy rating on the information technology service provider’s stock.

Other analysts have also recently issued research reports about the company. Cantor Fitzgerald set a $68.00 price target on Cognizant Technology Solutions Corp. and gave the stock a buy rating in a research report on Friday, August 5th. JPMorgan Chase & Co. restated a buy rating and issued a $62.00 price target on shares of Cognizant Technology Solutions Corp. in a research report on Wednesday, August 3rd. Citigroup Inc. reduced their price target on Cognizant Technology Solutions Corp. from $71.00 to $68.00 and set a buy rating for the company in a research report on Wednesday, July 20th. Barclays PLC restated a buy rating on shares of Cognizant Technology Solutions Corp. in a research report on Saturday, July 9th. Finally, Needham & Company LLC reduced their price target on Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a buy rating for the company in a research report on Monday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Cognizant Technology Solutions Corp. has an average rating of Buy and a consensus target price of $65.52.

Analyst Recommendations for Cognizant Technology Solutions Corp. (NASDAQ:CTSH)

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded down 0.93% during mid-day trading on Monday, reaching $49.98. The company had a trading volume of 842,941 shares. The company has a market capitalization of $30.33 billion, a PE ratio of 20.15 and a beta of 1.43. Cognizant Technology Solutions Corp. has a 1-year low of $45.44 and a 1-year high of $69.80. The firm has a 50-day moving average of $54.78 and a 200 day moving average of $58.40.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last issued its quarterly earnings results on Friday, August 5th. The information technology service provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. The business earned $3.37 billion during the quarter, compared to analysts’ expectations of $3.37 billion. Cognizant Technology Solutions Corp. had a return on equity of 19.31% and a net margin of 11.65%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.79 earnings per share. On average, analysts predict that Cognizant Technology Solutions Corp. will post $3.38 earnings per share for the current fiscal year.

In other Cognizant Technology Solutions Corp. news, VP Malcolm Frank sold 1,248 shares of the company’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $58.50, for a total transaction of $73,008.00. Following the transaction, the vice president now directly owns 3,945 shares in the company, valued at $230,782.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Karen Mcloughlin sold 20,000 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $60.00, for a total value of $1,200,000.00. Following the transaction, the chief financial officer now owns 60,741 shares in the company, valued at $3,644,460. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Columbia Partners L L C Investment Management boosted its position in Cognizant Technology Solutions Corp. by 6.5% in the first quarter. Columbia Partners L L C Investment Management now owns 30,380 shares of the information technology service provider’s stock worth $1,904,000 after buying an additional 1,846 shares during the period. Bessemer Group Inc. raised its stake in Cognizant Technology Solutions Corp. by 636.6% in the first quarter. Bessemer Group Inc. now owns 1,193,127 shares of the information technology service provider’s stock worth $74,809,000 after buying an additional 1,031,148 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in Cognizant Technology Solutions Corp. during the first quarter worth $3,924,000. Balentine LLC raised its stake in Cognizant Technology Solutions Corp. by 9.9% in the first quarter. Balentine LLC now owns 5,535 shares of the information technology service provider’s stock worth $347,000 after buying an additional 500 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in Cognizant Technology Solutions Corp. during the first quarter worth $219,000. Institutional investors own 87.00% of the company’s stock.

Cognizant Technology Solutions Corp. Company Profile

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.

5 Day Chart for NASDAQ:CTSH

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