Cognizant Technology Solutions Corp. (NASDAQ:CTSH) has been assigned a $67.00 target price by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday. The firm currently has a “buy” rating on the information technology service provider’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 20.46% from the stock’s previous close.

The analysts wrote, “Value Enhancement Plan”

CTSH has been the topic of a number of other reports. Morgan Stanley reiterated an “overweight” rating and issued a $61.00 target price (down from $66.00) on shares of Cognizant Technology Solutions Corp. in a research note on Sunday, October 9th. Needham & Company LLC restated a “buy” rating and set a $68.00 price target on shares of Cognizant Technology Solutions Corp. in a research note on Sunday, October 2nd. Jefferies Group dropped their price target on shares of Cognizant Technology Solutions Corp. from $70.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, October 10th. Vetr cut shares of Cognizant Technology Solutions Corp. from a “strong-buy” rating to a “buy” rating and set a $60.28 price target on the stock. in a research note on Monday, November 7th. Finally, Zacks Investment Research cut shares of Cognizant Technology Solutions Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. Cognizant Technology Solutions Corp. presently has a consensus rating of “Buy” and an average target price of $64.93.

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

Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 55.63 on Tuesday. The firm has a 50-day moving average of $52.33 and a 200-day moving average of $56.43. Cognizant Technology Solutions Corp. has a 12 month low of $45.44 and a 12 month high of $65.43. The firm has a market cap of $33.75 billion, a price-to-earnings ratio of 21.73 and a beta of 1.34.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last released its earnings results on Monday, November 7th. The information technology service provider reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.02. The firm had revenue of $3.45 billion for 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 company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 earnings per share. On average, analysts anticipate that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current year.

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In related news, CFO Karen Mcloughlin sold 10,000 shares of Cognizant Technology Solutions Corp. stock in a transaction dated Tuesday, November 1st. The shares were 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 of the company’s stock, valued at approximately $2,697,519.78. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Malcolm Frank sold 1,248 shares of Cognizant Technology Solutions Corp. stock in a transaction dated 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 directly owns 3,945 shares of the company’s stock, valued at $230,782.50. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CTSH. Gulf International Bank UK Ltd boosted its position in shares of Cognizant Technology Solutions Corp. by 1.7% in the second quarter. Gulf International Bank UK Ltd now owns 182,615 shares of the information technology service provider’s stock worth $10,452,000 after buying an additional 3,000 shares during the period. LGT Capital Partners LTD. acquired a new position in shares of Cognizant Technology Solutions Corp. during the second quarter worth about $8,837,000. Chevy Chase Trust Holdings Inc. boosted its position in shares of Cognizant Technology Solutions Corp. by 0.7% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 523,988 shares of the information technology service provider’s stock worth $29,993,000 after buying an additional 3,387 shares during the period. Exxonmobil Investment Management Inc. TX boosted its position in shares of Cognizant Technology Solutions Corp. by 5.7% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 156,830 shares of the information technology service provider’s stock worth $8,977,000 after buying an additional 8,524 shares during the period. Finally, Watch Point Trust Co boosted its position in shares of Cognizant Technology Solutions Corp. by 4.7% in the second quarter. Watch Point Trust Co now owns 35,565 shares of the information technology service provider’s stock worth $2,036,000 after buying an additional 1,600 shares during the period. 84.02% of the stock is owned by institutional investors.

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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