Cognizant Technology Solutions Corp. (NASDAQ:CTSH) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday. The firm currently has a $61.76 price objective on the information technology service provider’s stock. Vetr‘s price objective would suggest a potential upside of 16.13% from the company’s previous close.

A number of other research analysts have also recently issued reports on CTSH. Needham & Company LLC lowered their price target on shares of 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. Deutsche Bank AG reaffirmed a “buy” rating and issued a $69.00 target price on shares of Cognizant Technology Solutions Corp. in a report on Friday, October 21st. Cantor Fitzgerald set a $68.00 target price on shares of Cognizant Technology Solutions Corp. and gave the stock a “buy” rating in a report on Friday, August 5th. Goldman Sachs Group Inc. cut shares of Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $61.00 in a report on Thursday, September 15th. Finally, Zacks Investment Research raised shares of Cognizant Technology Solutions Corp. from a “sell” rating to a “hold” rating in a report on Friday, November 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Cognizant Technology Solutions Corp. currently has a consensus rating of “Buy” and an average target price of $64.99.

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

Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 53.18 on Monday. The stock has a market capitalization of $32.26 billion, a PE ratio of 20.77 and a beta of 1.34. The company’s 50 day moving average is $52.00 and its 200-day moving average is $56.62. Cognizant Technology Solutions Corp. has a 52 week low of $45.44 and a 52 week high of $65.91.

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

In other Cognizant Technology Solutions Corp. news, VP Malcolm Frank sold 1,248 shares of the business’s stock in a transaction 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 transaction, the vice president now owns 3,945 shares in the company, valued at $230,782.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Karen Mcloughlin sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $51.27, for a total transaction of $512,700.00. Following the transaction, the chief financial officer now owns 52,614 shares in the company, valued at approximately $2,697,519.78. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of CTSH. Royal Bank of Canada boosted its position 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 boosted its position in shares of 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 valued at $240,034,000 after buying an additional 564,958 shares during the last quarter. Saratoga Research & Investment Management boosted its position in shares of 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 valued at $26,054,000 after buying an additional 44,205 shares during the last quarter. Provident Trust Co. boosted its position in shares of 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 valued at $233,990,000 after buying an additional 82,520 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Cognizant Technology Solutions Corp. by 314.6% in the third quarter. BNP Paribas Arbitrage SA now owns 523,833 shares of the information technology service provider’s stock valued at $24,992,000 after buying an additional 397,480 shares during the last quarter. Hedge funds and other institutional investors own 85.29% of the company’s stock.

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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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