Cognizant Technology Solutions Corp. (NASDAQ:CTSH) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $61.64 price target on the information technology service provider’s stock. Vetr‘s price target suggests a potential upside of 11.38% from the stock’s current price.

Several other analysts have also recently commented on CTSH. Citigroup Inc. decreased their target price on Cognizant Technology Solutions Corp. from $71.00 to $68.00 and set a “buy” rating on the stock in a report on Wednesday, July 20th. Jefferies Group reaffirmed a “buy” rating and set a $70.00 price target on shares of Cognizant Technology Solutions Corp. in a research note on Monday, July 25th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $62.00 price target on shares of Cognizant Technology Solutions Corp. in a research note on Wednesday, August 3rd. Cantor Fitzgerald set a $68.00 price target on Cognizant Technology Solutions Corp. and gave the company a “buy” rating in a research note on Friday, August 5th. Finally, Nomura lowered Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and cut their price target for the company from $65.00 to $62.00 in a research note on Monday, August 8th. One equities 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 issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $64.99.

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

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 55.33 on Tuesday. The stock has a market cap of $33.57 billion, a PE ratio of 21.61 and a beta of 1.34. Cognizant Technology Solutions Corp. has a 1-year low of $45.44 and a 1-year high of $66.28. The firm’s 50-day moving average price is $51.66 and its 200 day moving average price is $56.73.

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

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in shares of Cognizant Technology Solutions Corp. by 45.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 25,864,040 shares of the information technology service provider’s stock valued at $1,480,458,000 after buying an additional 8,041,798 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Cognizant Technology Solutions Corp. by 149.0% in the second quarter. Nordea Investment Management AB now owns 8,694,123 shares of the information technology service provider’s stock valued at $497,652,000 after buying an additional 5,203,100 shares in the last quarter. Artisan Partners Limited Partnership increased its position in shares of Cognizant Technology Solutions Corp. by 21.1% in the second quarter. Artisan Partners Limited Partnership now owns 13,571,012 shares of the information technology service provider’s stock valued at $776,805,000 after buying an additional 2,362,461 shares in the last quarter. Coronation Fund Managers Ltd. acquired a new position in shares of Cognizant Technology Solutions Corp. during the second quarter valued at approximately $101,646,000. Finally, Genesis Asset Managers LLP increased its position in shares of Cognizant Technology Solutions Corp. by 25.9% in the third quarter. Genesis Asset Managers LLP now owns 8,187,200 shares of the information technology service provider’s stock valued at $410,097,000 after buying an additional 1,686,147 shares in the last quarter. Institutional investors own 85.54% of the company’s stock.

About Cognizant Technology Solutions Corp.

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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