Cognizant Technology Solutions Corp. (NASDAQ:CTSH) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Monday. They currently have a $61.22 price objective on the information technology service provider’s stock. Vetr‘s target price points to a potential upside of 6.45% from the stock’s previous close.

Several other research analysts have also weighed in on CTSH. Needham & Company LLC dropped their target price on Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a “buy” rating on the stock 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 research report on Friday, October 21st. Cantor Fitzgerald set a $68.00 target price on Cognizant Technology Solutions Corp. and gave the stock a “buy” rating in a research report on Friday, August 5th. Goldman Sachs Group Inc. lowered Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $68.00 to $61.00 in a research report on Thursday, September 15th. Finally, Zacks Investment Research raised Cognizant Technology Solutions Corp. from a “sell” rating to a “hold” rating in a research report on Friday, November 11th. 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’s stock. Cognizant Technology Solutions Corp. currently has an average rating of “Buy” and an average target price of $64.97.

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

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 6.95% during midday trading on Monday, reaching $56.95. The company’s stock had a trading volume of 24,846,803 shares. The stock has a 50 day moving average of $52.33 and a 200 day moving average of $56.43. Cognizant Technology Solutions Corp. has a 52 week low of $45.44 and a 52 week high of $65.43. The firm has a market capitalization of $34.55 billion, a PE ratio of 22.25 and a beta of 1.34.

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

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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 value of $73,008.00. Following the transaction, the vice president now directly owns 3,945 shares in the company, valued at approximately $230,782.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Karen Mcloughlin sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $51.27, for a total value of $512,700.00. Following the completion of the transaction, the chief financial officer now owns 52,614 shares in the company, valued at $2,697,519.78. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Auxier Asset Management acquired a new position in Cognizant Technology Solutions Corp. during the third quarter valued at $618,000. D.A. Davidson & CO. raised its position in Cognizant Technology Solutions Corp. by 10.5% in the third quarter. D.A. Davidson & CO. now owns 104,899 shares of the information technology service provider’s stock valued at $5,003,000 after buying an additional 9,971 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in Cognizant Technology Solutions Corp. during the third quarter valued at $5,930,000. Quantitative Systematic Strategies LLC acquired a new position in Cognizant Technology Solutions Corp. during the third quarter valued at $272,000. Finally, Sawtooth Solutions LLC raised its position in Cognizant Technology Solutions Corp. by 19.8% in the third quarter. Sawtooth Solutions LLC now owns 7,407 shares of the information technology service provider’s stock valued at $353,000 after buying an additional 1,222 shares in the last quarter. Institutional investors and hedge funds own 84.02% 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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