Cognizant Technology Solutions Corp. (NASDAQ:CTSH)‘s stock had its “outperform” rating restated by Sanford C. Bernstein in a report issued on Thursday. They presently have a $75.00 price objective on the information technology service provider’s stock. Sanford C. Bernstein’s price objective indicates a potential upside of 36.09% from the company’s previous close.

A number of other brokerages have also recently weighed in on CTSH. Nomura cut shares of Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and reduced their price target for the company from $65.00 to $62.00 in a research report on Monday, August 8th. Needham & Company LLC reduced their price target on shares of Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, August 8th. Cantor Fitzgerald set a $68.00 price target on shares of Cognizant Technology Solutions Corp. and gave the company a “buy” rating in a research report on Friday, August 5th. Wedbush assumed coverage on shares of Cognizant Technology Solutions Corp. in a research report on Thursday, September 8th. They issued a “neutral” rating and a $65.00 price target for the company. Finally, Vetr cut shares of Cognizant Technology Solutions Corp. from a “strong-buy” rating to a “buy” rating and set a $65.33 price target for the company. in a research report on Monday, September 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Cognizant Technology Solutions Corp. has a consensus rating of “Buy” and a consensus target price of $65.32.

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

Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 55.08 on Thursday. The stock has a market capitalization of $33.42 billion, a price-to-earnings ratio of 21.52 and a beta of 1.34. The stock’s 50 day moving average is $52.33 and its 200 day moving average is $56.43. Cognizant Technology Solutions Corp. has a 1-year low of $45.44 and a 1-year high of $65.25.

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

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In related news, VP Malcolm Frank sold 1,248 shares of the firm’s 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 completion of the sale, the vice president now directly owns 3,945 shares of the company’s stock, valued at approximately $230,782.50. The transaction was disclosed in a document filed with the SEC, which is available 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 shares were sold at an average price of $51.27, for a total transaction of $512,700.00. Following the sale, the chief financial officer now directly owns 52,614 shares of the company’s stock, valued at $2,697,519.78. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Gulf International Bank UK Ltd raised its stake in 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 last quarter. LGT Capital Partners LTD. bought a new position in Cognizant Technology Solutions Corp. during the second quarter worth approximately $8,837,000. Chevy Chase Trust Holdings Inc. increased its position in 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 increased its position in 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 increased its position in 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 and hedge funds.

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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