Investors purchased shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) on weakness during trading hours on Wednesday after Bank of America Corp. lowered their price target on the stock to $6.00. $98.24 million flowed into the stock on the tick-up and $80.93 million flowed out of the stock on the tick-down, for a money net flow of $17.31 million into the stock. Of all equities tracked, Cognizant Technology Solutions Corp. had the 25th highest net in-flow for the day. Cognizant Technology Solutions Corp. traded down ($1.32) for the day and closed at $51.86

A number of other brokerages have also recently issued reports on CTSH. Needham & Company LLC lowered their price objective on 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. Nomura cut Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and decreased their price target for the company from $65.00 to $62.00 in a research report on Monday, August 8th. Cantor Fitzgerald set a $68.00 price target on Cognizant Technology Solutions Corp. and gave the company a “buy” rating in a research report on Friday, August 5th. Wedbush began coverage on Cognizant Technology Solutions Corp. in a research report on Thursday, September 8th. They set a “neutral” rating and a $65.00 price target on the stock. Finally, Vetr cut Cognizant Technology Solutions Corp. from a “strong-buy” rating to a “buy” rating and set a $65.33 price target on the stock. in a research report on Monday, September 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $62.72.

In other news, VP Malcolm Frank sold 1,248 shares of the firm’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 completion of the transaction, the vice president now directly owns 3,945 shares in the company, valued at $230,782.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Karen Mcloughlin sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now owns 52,614 shares of the company’s stock, valued at $2,697,519.78. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Washington Trust Bank increased its position in shares of Cognizant Technology Solutions Corp. by 6.8% in the second quarter. Washington Trust Bank now owns 1,789 shares of the information technology service provider’s stock valued at $102,000 after buying an additional 114 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Cognizant Technology Solutions Corp. during the second quarter valued at $123,000. Exane Derivatives boosted its stake in Cognizant Technology Solutions Corp. by 22.3% in the second quarter. Exane Derivatives now owns 2,278 shares of the information technology service provider’s stock valued at $130,000 after buying an additional 416 shares during the period. Virtus Investment Advisers Inc. acquired a new stake in Cognizant Technology Solutions Corp. during the third quarter valued at approximately $132,000. Finally, SRB Corp acquired a new stake in Cognizant Technology Solutions Corp. during the third quarter valued at approximately $136,000. Hedge funds and other institutional investors own 85.29% of the company’s stock.

The company’s 50 day moving average is $52.05 and its 200-day moving average is $56.59. The firm has a market cap of $31.46 billion, a P/E ratio of 20.26 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.02. Cognizant Technology Solutions Corp. had a return on equity of 19.42% and a net margin of 11.78%. The company earned $3.45 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the previous year, the business earned $0.76 EPS. Cognizant Technology Solutions Corp.’s revenue was up 8.4% compared to the same quarter last year. Equities analysts predict that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current fiscal year.

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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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