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Equities research analysts at Societe Generale started coverage on shares of Cognizant Technology Solutions Corp. (NASDAQ: CTSH) in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.

The analysts wrote, “Cognizant’s revenues have grown rapidly over last few years, outpacing most of its peer group. We expect the company to post revenue growth of close to 18% in CY13 (26% higher than the top end of NASSCOM’s guidance for FY14) and to maintain an industry-leading growth rate over the next couple of years. Also, as the company has reported EBIT margins at the top end of its target range for the last few years, we see only a low risk of a margin miss.”

Other equities research analysts have also recently issued reports about the stock. Analysts at Sanford C. Bernstein cut their price target on shares of Cognizant Technology Solutions Corp. from $85.00 to $83.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Cognizant Technology Solutions Corp. in a research note to investors on Friday, June 21st. They now have a $85.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Cognizant Technology Solutions Corp. in a research note to investors on Wednesday, June 19th. They now have a $92.00 price target on the stock.

Five investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $81.05.

Cognizant Technology Solutions Corp. (NASDAQ: CTSH) traded down 0.41% on Friday, hitting $62.84. Cognizant Technology Solutions Corp. has a 1-year low of $53.92 and a 1-year high of $81.08. The stock’s 50-day moving average is currently $75.46. The company has a market cap of $18.953 billion and a price-to-earnings ratio of 17.62.

Cognizant Technology Solutions Corp. (NASDAQ: CTSH) last announced its earnings results on Wednesday, May 8th. The company reported $1.02 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.93 by $0.09. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter last year, the company posted $0.86 earnings per share. Cognizant Technology Solutions Corp.’s revenue was up 18.1% compared to the same quarter last year. Cognizant Technology Solutions Corp. has set its Q2 guidance at $1.06 EPS and its FY13 guidance at $4.31 EPS. On average, analysts predict that Cognizant Technology Solutions Corp. will post $4.01 earnings per share for the current fiscal year.

Cognizant Technology Solutions Corporation (NASDAQ: CTSH) is a provider of custom information technology, consulting and business process outsourcing services.

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