Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) were up 1.8% during mid-day trading on Tuesday after Cantor Fitzgerald raised their price target on the stock to $67.00. The stock traded as high as $58.50 and last traded at $55.94, with a volume of 4,054,210 shares traded. The stock had previously closed at $56.95.

The analysts wrote, “Value Enhancement Plan”

Several other analysts have also issued reports on the company. HSBC began coverage on Cognizant Technology Solutions Corp. in a report on Friday, September 30th. They set a “buy” rating and a $62.00 target price on the stock. Vetr raised Cognizant Technology Solutions Corp. from a “buy” rating to a “strong-buy” rating and set a $65.33 price target on the stock in a research report on Monday, September 12th. Societe Generale began coverage on Cognizant Technology Solutions Corp. in a research report on Monday, September 26th. They set a “buy” rating and a $68.00 price target on the stock. Bank of America Corp. downgraded Cognizant Technology Solutions Corp. from a “buy” rating to an “underperform” rating in a research report on Tuesday, November 22nd. Finally, Nomura downgraded Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $65.00 to $62.00 in a research report on Monday, August 8th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. Cognizant Technology Solutions Corp. has a consensus rating of “Buy” and a consensus price target of $64.93.

In related news, CFO Karen Mcloughlin sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $51.27, for a total transaction of $512,700.00. Following the sale, the chief financial officer now owns 52,614 shares in the company, valued at approximately $2,697,519.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Malcolm Frank sold 1,248 shares of the company’s stock in a transaction dated Tuesday, September 6th. The shares were sold at an average price of $58.50, for a total value of $73,008.00. Following the sale, the vice president now owns 3,945 shares in the company, valued at approximately $230,782.50. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in CTSH. Albion Financial Group UT raised its stake in shares of Cognizant Technology Solutions Corp. by 0.4% in the second quarter. Albion Financial Group UT now owns 6,830 shares of the information technology service provider’s stock valued at $391,000 after buying an additional 25 shares during the last quarter. Gradient Investments LLC raised its stake in shares of Cognizant Technology Solutions Corp. by 0.6% in the third quarter. Gradient Investments LLC now owns 5,385 shares of the information technology service provider’s stock valued at $257,000 after buying an additional 34 shares during the last quarter. LS Investment Advisors LLC raised its stake in shares of Cognizant Technology Solutions Corp. by 0.3% in the second quarter. LS Investment Advisors LLC now owns 13,412 shares of the information technology service provider’s stock valued at $768,000 after buying an additional 46 shares during the last quarter. Commerce Bank raised its stake in shares of Cognizant Technology Solutions Corp. by 1.5% in the second quarter. Commerce Bank now owns 3,971 shares of the information technology service provider’s stock valued at $227,000 after buying an additional 57 shares during the last quarter. Finally, Wedbush Securities Inc. raised its stake in shares of Cognizant Technology Solutions Corp. by 0.4% in the second quarter. Wedbush Securities Inc. now owns 18,283 shares of the information technology service provider’s stock valued at $1,047,000 after buying an additional 75 shares during the last quarter. Institutional investors own 84.02% of the company’s stock.

The company’s 50 day moving average is $52.33 and its 200 day moving average is $56.43. The firm has a market cap of $33.92 billion, a P/E ratio of 21.838 and a beta of 1.34.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last released its quarterly 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. Cognizant Technology Solutions Corp. had a return on equity of 19.42% and a net margin of 11.78%. The business had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter last year, the business posted $0.76 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts forecast that Cognizant Technology Solutions Corp. will post $3.37 earnings per share for the current 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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