Bank of America Corporation reissued their buy rating on shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in a research note released on Tuesday, Marketbeat reports. The brokerage currently has a $86.00 price target on the information technology service provider’s stock.

A number of other research firms have also commented on CTSH. Needham & Company LLC lifted their price objective on shares of Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the company a buy rating in a research note on Monday, May 15th. Royal Bank Of Canada restated a buy rating and issued a $77.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, September 6th. Zacks Investment Research lowered shares of Cognizant Technology Solutions Corporation from a buy rating to a hold rating in a research note on Thursday, August 10th. Deutsche Bank AG reiterated a buy rating and set a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, May 31st. Finally, Robert W. Baird reiterated a buy rating and set a $80.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Sunday, September 10th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $72.30.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 71.82 on Tuesday. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $73.00. The firm has a 50-day moving average of $70.58 and a 200 day moving average of $65.16. The stock has a market capitalization of $42.42 billion, a price-to-earnings ratio of 23.04 and a beta of 1.14.

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, beating analysts’ consensus estimates of $0.82 by $0.11. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. Cognizant Technology Solutions Corporation’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.87 earnings per share. Equities analysts forecast that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 22nd were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 19.17%.

In other Cognizant Technology Solutions Corporation news, insider Chandrasekaran Ramakrishnan sold 25,000 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $70.00, for a total value of $1,750,000.00. Following the sale, the insider now owns 360,856 shares of the company’s stock, valued at $25,259,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allen Shaheen sold 442 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $70.58, for a total transaction of $31,196.36. The disclosure for this sale can be found here. Insiders sold 282,267 shares of company stock worth $20,127,629 in the last ninety days. 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 business. Acrospire Investment Management LLC lifted its stake in shares of Cognizant Technology Solutions Corporation by 92.6% during the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after buying an additional 800 shares during the period. WFG Advisors LP lifted its stake in shares of Cognizant Technology Solutions Corporation by 46.4% during the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after buying an additional 621 shares during the period. Krilogy Financial LLC purchased a new position in shares of Cognizant Technology Solutions Corporation during the second quarter valued at approximately $137,000. Guardian Life Insurance Co. of America lifted its stake in shares of Cognizant Technology Solutions Corporation by 1.2% during the first quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock valued at $140,000 after buying an additional 27 shares during the period. Finally, Assetmark Inc. lifted its stake in shares of Cognizant Technology Solutions Corporation by 24.2% during the first quarter. Assetmark Inc. now owns 2,592 shares of the information technology service provider’s stock valued at $154,000 after buying an additional 505 shares during the period. 87.64% 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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