Cognizant Technology Solutions Corp Stock Rating Reaffirmed by Citigroup Inc. (CTSH)
Cognizant Technology Solutions Corp (NASDAQ:CTSH)‘s stock had its “buy” rating reiterated by research analysts at Citigroup Inc. in a report released on Thursday. They currently have a $52.00 price target on the stock, down from their previous price target of $57.50. Citigroup Inc.’s target price points to a potential upside of 19.07% from the company’s current price.
In other Cognizant Technology Solutions Corp news, VP Malcolm Frank sold 1,254 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $49.87, for a total value of $62,536.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Cognizant Technology Solutions Corp (NASDAQ:CTSH) traded up 1.63% during mid-day trading on Thursday, hitting $44.38. The stock had a trading volume of 11,626,589 shares. Cognizant Technology Solutions Corp has a 52 week low of $35.00 and a 52 week high of $54.00. The stock’s 50-day moving average is $49.48 and its 200-day moving average is $49.3. The company has a market cap of $27.003 billion and a P/E ratio of 20.65. Cognizant Technology Solutions Corp also saw unusually large options trading on Wednesday. Stock investors acquired 11,541 put options on the stock. This represents an increase of 734% compared to the average daily volume of 1,383 put options.
Cognizant Technology Solutions Corp (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.58 by $0.08. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis. Analysts expect that Cognizant Technology Solutions Corp will post $2.40 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Berenberg Bank cut their price target on shares of Cognizant Technology Solutions Corp from $51.00 to $44.40 in a research note on Thursday. They now have a “hold” rating on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Cognizant Technology Solutions Corp in a research note on Thursday. They now have a $51.00 price target on the stock, down previously from $56.00. Finally, analysts at BMO Capital Markets cut their price target on shares of Cognizant Technology Solutions Corp from $52.00 to $49.00 in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Cognizant Technology Solutions Corp presently has an average rating of “Buy” and a consensus price target of $54.49.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is a provider of custom information technology, consulting and business process outsourcing services.
Receive News & Ratings for Cognizant Technology Solutions Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions Corp and related companies with Analyst Ratings Network's FREE daily email newsletter.