Jefferies Group LLC reaffirmed their buy rating on shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in a report published on Thursday. The brokerage currently has a $81.00 price objective on the information technology service provider’s stock.

CTSH has been the topic of several other research reports. Zacks Investment Research upgraded Cognizant Technology Solutions Corporation from a hold rating to a buy rating and set a $82.00 price objective on the stock in a report on Tuesday, October 10th. Bank of America Corporation reiterated a buy rating and set a $86.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Tuesday, September 12th. KeyCorp reiterated a buy rating and set a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Friday, September 8th. Cowen and Company restated a buy rating and issued a $75.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Friday, July 28th. Finally, Vetr upgraded Cognizant Technology Solutions Corporation from a hold rating to a buy rating and set a $71.62 target price on the stock in a research note on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $73.66.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 74.38 on Thursday. Cognizant Technology Solutions Corporation has a 52-week low of $49.35 and a 52-week high of $74.77. The stock has a 50 day moving average of $72.09 and a 200-day moving average of $67.25. The stock has a market capitalization of $43.93 billion, a price-to-earnings ratio of 23.86 and a beta of 1.12.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the previous year, the business posted $0.87 EPS. Cognizant Technology Solutions Corporation’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities research analysts predict that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current fiscal year.

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In related news, President Rajeev Mehta sold 34,437 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $72.54, for a total transaction of $2,498,059.98. Following the transaction, the president now directly owns 170,063 shares of the company’s stock, valued at approximately $12,336,370.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Debashis Chatterjee sold 2,190 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $74.00, for a total value of $162,060.00. The disclosure for this sale can be found here. Insiders have sold a total of 289,546 shares of company stock worth $20,683,257 over the last three months. 1.08% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Cornerstone Advisors Inc. grew its holdings in Cognizant Technology Solutions Corporation by 0.3% in the 2nd quarter. Cornerstone Advisors Inc. now owns 3,633 shares of the information technology service provider’s stock valued at $241,000 after buying an additional 11 shares in the last quarter. Guardian Life Insurance Co. of America grew its holdings in Cognizant Technology Solutions Corporation by 1.2% in the 1st 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 in the last quarter. First Capital Advisors Group LLC. grew its holdings in Cognizant Technology Solutions Corporation by 0.9% in the 2nd quarter. First Capital Advisors Group LLC. now owns 3,676 shares of the information technology service provider’s stock valued at $244,000 after buying an additional 32 shares in the last quarter. Comerica Securities Inc. grew its holdings in Cognizant Technology Solutions Corporation by 0.4% in the 2nd quarter. Comerica Securities Inc. now owns 7,810 shares of the information technology service provider’s stock valued at $519,000 after buying an additional 32 shares in the last quarter. Finally, CENTRAL TRUST Co grew its holdings in Cognizant Technology Solutions Corporation by 0.5% in the 2nd quarter. CENTRAL TRUST Co now owns 6,403 shares of the information technology service provider’s stock valued at $425,000 after buying an additional 35 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors and hedge funds.

About Cognizant Technology Solutions Corporation

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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