Cognizant Technology Solutions Corp. (NASDAQ:CTSH) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday. They currently have a $60.28 price objective on the information technology service provider’s stock. Vetr‘s target price would suggest a potential upside of 11.28% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Cantor Fitzgerald set a $68.00 price objective on shares of Cognizant Technology Solutions Corp. and gave the company a “buy” rating in a research report on Friday, August 5th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $62.00 price objective on shares of Cognizant Technology Solutions Corp. in a research report on Wednesday, August 3rd. Jefferies Group restated a “buy” rating and issued a $70.00 target price on shares of Cognizant Technology Solutions Corp. in a research note on Monday, July 25th. Citigroup Inc. cut their target price on shares of Cognizant Technology Solutions Corp. from $71.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Finally, Needham & Company LLC cut their target price on shares of Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, August 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Cognizant Technology Solutions Corp. currently has a consensus rating of “Buy” and an average price target of $64.99.

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

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 54.17 on Monday. The company’s 50 day moving average price is $51.63 and its 200-day moving average price is $56.74. Cognizant Technology Solutions Corp. has a 12-month low of $45.44 and a 12-month high of $65.91. The stock has a market cap of $32.87 billion, a price-to-earnings ratio of 21.16 and a beta of 1.34.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last posted its quarterly earnings data on Monday, November 7th. The information technology service provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The company earned $3.45 billion during the quarter, compared to analysts’ expectations of $3.46 billion. Cognizant Technology Solutions Corp. had a net margin of 11.78% and a return on equity of 19.42%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 EPS. On average, analysts forecast that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current year.

In related news, CFO Karen Mcloughlin sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $51.27, for a total value of $512,700.00. Following the completion of the sale, the chief financial officer now owns 52,614 shares in the company, valued at approximately $2,697,519.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Malcolm Frank sold 1,248 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $58.50, for a total transaction of $73,008.00. Following the completion of the sale, the vice president now owns 3,945 shares of the company’s stock, valued at approximately $230,782.50. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in CTSH. Royal Bank of Canada increased its stake in Cognizant Technology Solutions Corp. by 140.5% in the first quarter. Royal Bank of Canada now owns 1,983,749 shares of the information technology service provider’s stock worth $124,382,000 after buying an additional 1,158,887 shares during the last quarter. Schroder Investment Management Group increased its stake in Cognizant Technology Solutions Corp. by 15.6% in the second quarter. Schroder Investment Management Group now owns 4,193,480 shares of the information technology service provider’s stock worth $240,034,000 after buying an additional 564,958 shares during the last quarter. Saratoga Research & Investment Management increased its stake in Cognizant Technology Solutions Corp. by 10.8% in the second quarter. Saratoga Research & Investment Management now owns 455,167 shares of the information technology service provider’s stock worth $26,054,000 after buying an additional 44,205 shares during the last quarter. Provident Trust Co. increased its stake in Cognizant Technology Solutions Corp. by 2.1% in the second quarter. Provident Trust Co. now owns 4,087,880 shares of the information technology service provider’s stock worth $233,990,000 after buying an additional 82,520 shares during the last quarter. Finally, Calvert Investment Management Inc. increased its stake in Cognizant Technology Solutions Corp. by 60.8% in the second quarter. Calvert Investment Management Inc. now owns 310,074 shares of the information technology service provider’s stock worth $17,749,000 after buying an additional 117,271 shares during the last quarter. Institutional investors own 85.54% 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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