Cognizant Technology Solutions Corp. Given Buy Rating at Societe Generale (CTSH)
Cognizant Technology Solutions Corp. (NASDAQ:CTSH)‘s stock had its “buy” rating reiterated by investment analysts at Societe Generale in a note issued to investors on Wednesday, Analyst Ratings.Net reports. They currently have a $85.00 price objective on the stock. Societe Generale’s price target indicates a potential upside of 1.68% from the stock’s previous close.
Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 3.07% during mid-day trading on Wednesday, hitting $83.592. 3,532,265 shares of the company’s stock traded hands. Cognizant Technology Solutions Corp. has a 52-week low of $60.92 and a 52-week high of $83.75. The stock has a 50-day moving average of $74.88 and a 200-day moving average of $70.65. The company has a market cap of $25.192 billion and a price-to-earnings ratio of 21.62.
Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.07 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.97 by $0.10. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, analysts predict that Cognizant Technology Solutions Corp. will post $3.98 earnings per share for the current fiscal year.
A number of other firms have also recently commented on CTSH. Analysts at Evercore Partners raised their price target on shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) from $94.00 to $110.00 in a research note to investors on Wednesday. They now have an “overweight” rating on the stock. Separately, analysts at UBS AG raised their price target on shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) from $80.00 to $97.00 in a research note to investors on Wednesday. They now have an “overweight” rating on the stock. Finally, analysts at Barclays Capital upgraded shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) from an “equal weight” rating to an “overweight” rating in a research note to investors on Wednesday. They now have a $97.00 price target on the stock, up previously from $80.00.
Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $85.76.
In other Cognizant Technology Solutions Corp. news, Insider Chandrasekaran Ramakrishnan sold 38,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $79.14, for a total transaction of $3,007,320.00. Following the transaction, the insider now directly owns 135,291 shares in the company. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is a provider of custom information technology, consulting and business process outsourcing services.
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