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Investment analysts at Deutsche Bank reduced their target price on shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) in a note issued to investors on Friday, Stock Ratings Network.com reports.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) traded down 0.48% on Friday, hitting $47.77. The stock had a trading volume of 696,596 shares. Cognizant Technology Solutions Corp has a 52-week low of $30.46 and a 52-week high of $54.00. The stock has a 50-day moving average of $49. and a 200-day moving average of $48.51. The company has a market cap of $29.017 billion and a P/E ratio of 23.82.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.55 by $0.07. The company had revenue of $2.42 million for the quarter, compared to the consensus estimate of $2.43 million. During the same quarter last year, the company posted $1.02 earnings per share. Cognizant Technology Solutions Corp’s revenue was up 19.9% compared to the same quarter last year. Analysts expect that Cognizant Technology Solutions Corp will post $2.39 EPS for the current fiscal year.

In other Cognizant Technology Solutions Corp news, VP Malcolm Frank sold 1,643 shares of Cognizant Technology Solutions Corp stock on the open market in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $49.23, for a total value of $80,884.89. Following the sale, the vice president now directly owns 810 shares in the company, valued at approximately $39,876. The sale was disclosed in a filing with the SEC, which is available at this link.

A number of other firms have also recently commented on CTSH. Analysts at Societe Generale cut their price target on shares of Cognizant Technology Solutions Corp from $60.00 to $58.00 in a research note on Friday. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Cognizant Technology Solutions Corp in a research note on Thursday. They now have a $63.00 price target on the stock, down previously from $64.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Cognizant Technology Solutions Corp in a research note on Thursday. They now have a $49.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $81.75.

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

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