Cognizant Technology Solutions Corp. (CTSH) Receives “Market Perform” Rating from William Blair
Several other equities analysts have also issued reports on CTSH. JPMorgan Chase & Co. reaffirmed a buy rating and issued a $62.00 target price on shares of Cognizant Technology Solutions Corp. in a report on Wednesday, August 3rd. Cantor Fitzgerald set a $68.00 target price on Cognizant Technology Solutions Corp. and gave the company a buy rating in a report on Friday, August 5th. Nomura lowered Cognizant Technology Solutions Corp. from a buy rating to a neutral rating and reduced their target price for the company from $65.00 to $62.00 in a report on Monday, August 8th. Needham & Company LLC reduced their target price on Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a buy rating for the company in a report on Monday, August 8th. Finally, Zacks Investment Research raised Cognizant Technology Solutions Corp. from a sell rating to a hold rating in a report on Monday, August 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $64.93.
Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 55.63 on Tuesday. Cognizant Technology Solutions Corp. has a 1-year low of $45.44 and a 1-year high of $65.25. The company has a market cap of $33.75 billion, a price-to-earnings ratio of 21.73 and a beta of 1.34. The firm’s 50-day moving average price is $52.33 and its 200-day moving average price is $56.43.
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 (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. The company earned $3.45 billion during 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 prior year, the company posted $0.76 earnings per share. Equities research analysts forecast that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current fiscal year.
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In related news, CFO Karen Mcloughlin sold 10,000 shares of Cognizant Technology Solutions Corp. 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Malcolm Frank sold 1,248 shares of Cognizant Technology Solutions Corp. 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 approximately $230,782.50. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Washington Trust Bank boosted its position in 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 worth $102,000 after buying an additional 114 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Cognizant Technology Solutions Corp. during the second quarter worth $123,000. Exane Derivatives boosted its position 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 worth $130,000 after buying an additional 416 shares during the period. Virtus Investment Advisers Inc. purchased a new position in Cognizant Technology Solutions Corp. during the third quarter worth $132,000. Finally, SRB Corp purchased a new position in Cognizant Technology Solutions Corp. during the third quarter worth $136,000. Institutional investors own 84.02% of the company’s stock.
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.
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