Cognizant Technology Solutions Corp. Stock Rating Upgraded by Barclays Capital (CTSH)
Cognizant Technology Solutions Corp. (NASDAQ:CTSH) was upgraded by Barclays Capital from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday, Stock Ratings Network.com reports.
A number of other analysts have also recently weighed in on CTSH. Analysts at Societe Generale raised their price target on shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) from $74.00 to $85.00 in a research note to investors on Thursday, August 8th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) in a research note to investors on Thursday, August 8th. They now have a $78.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) from $80.00 to $87.00 in a research note to investors on Wednesday, August 7th.
Four analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Cognizant Technology Solutions Corp. presently has a consensus rating of “Buy” and a consensus price target of $83.75.
Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 2.65% on Wednesday, hitting $83.25. 591,119 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 $81.83. The stock has a 50-day moving average of $74. and a 200-day moving average of $70.56. The company has a market cap of $25.089 billion and a P/E ratio of 21.62.
Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last announced its earnings results on Tuesday, August 6th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the 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 prior year, the company posted $0.82 earnings per share. The company’s quarterly revenue 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.
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 completion of the transaction, the insider now directly owns 135,291 shares of the company’s stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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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