Vetr upgraded shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $71.62 price target on the information technology service provider’s stock.

CTSH has been the subject of a number of other reports. Needham & Company LLC increased their price objective on shares of Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the stock a buy rating in a research note on Monday, May 15th. Deutsche Bank AG restated a buy rating and set a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, May 31st. HSBC Holdings plc downgraded shares of Cognizant Technology Solutions Corporation from a buy rating to a hold rating and increased their price objective for the stock from $65.00 to $68.00 in a research note on Thursday, June 8th. Pacific Crest restated an overweight rating and set a $75.00 price objective (up from $73.00) on shares of Cognizant Technology Solutions Corporation in a research note on Thursday, June 1st. Finally, Cantor Fitzgerald restated a buy rating and set a $67.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Friday, May 5th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Cognizant Technology Solutions Corporation has an average rating of Buy and an average price target of $65.94.

Shares of Cognizant Technology Solutions Corporation (CTSH) traded up 2.09% during mid-day trading on Wednesday, hitting $69.95. The company’s stock had a trading volume of 5,882,713 shares. The company has a 50-day moving average price of $67.94 and a 200-day moving average price of $62.02. Cognizant Technology Solutions Corporation has a 1-year low of $45.44 and a 1-year high of $70.49. The stock has a market cap of $41.20 billion, a PE ratio of 25.44 and a beta of 1.17.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 12.07% and a return on equity of 18.77%. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the prior year, the business posted $0.87 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Analysts predict that Cognizant Technology Solutions Corporation will post $3.67 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd will be issued a $0.15 dividend. The ex-dividend date is Friday, August 18th. This represents a $0.60 annualized dividend and a yield of 0.86%. Cognizant Technology Solutions Corporation’s dividend payout ratio is currently 21.90%.

In other news, COO Srinivasan Veeraraghavachary sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $62.50, for a total transaction of $750,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Debashis Chatterjee sold 3,452 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $69.50, for a total transaction of $239,914.00. Following the transaction, the insider now directly owns 42,628 shares in the company, valued at $2,962,646. The disclosure for this sale can be found here. Over the last three months, insiders sold 63,783 shares of company stock worth $4,222,615. Insiders own 1.08% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. National Pension Service boosted its position in shares of Cognizant Technology Solutions Corporation by 7.0% in the first quarter. National Pension Service now owns 480,168 shares of the information technology service provider’s stock valued at $28,445,000 after buying an additional 31,575 shares in the last quarter. Koshinski Asset Management Inc. boosted its position in shares of Cognizant Technology Solutions Corporation by 3.4% in the first quarter. Koshinski Asset Management Inc. now owns 3,930 shares of the information technology service provider’s stock valued at $234,000 after buying an additional 130 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Cognizant Technology Solutions Corporation by 1.9% in the first quarter. Gulf International Bank UK Ltd now owns 186,615 shares of the information technology service provider’s stock valued at $11,107,000 after buying an additional 3,500 shares in the last quarter. Trust Co. of Oklahoma boosted its position in shares of Cognizant Technology Solutions Corporation by 0.6% in the first quarter. Trust Co. of Oklahoma now owns 30,218 shares of the information technology service provider’s stock valued at $1,799,000 after buying an additional 181 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its position in shares of Cognizant Technology Solutions Corporation by 10.2% in the first quarter. Raymond James Trust N.A. now owns 10,996 shares of the information technology service provider’s stock valued at $655,000 after buying an additional 1,016 shares in the last quarter. 89.10% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Corporation Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

Analyst Recommendations for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

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