Cognizant Technology Solutions Corp Receives Consensus Rating of “Buy” from Brokerages (NASDAQ:CTSH)
Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) have received a consensus recommendation of “Buy” from the eighteen analysts that are currently covering the company, American Banking and Market News reports. Three analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $54.49.
Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) traded up 0.32% on Friday, hitting $44.52. 531,394 shares of the company’s stock traded hands. Cognizant Technology Solutions Corp has a 52 week low of $35.00 and a 52 week high of $54.00. The stock has a 50-day moving average of $49.48 and a 200-day moving average of $49.3. The company has a market cap of $27.063 billion and a P/E ratio of 19.86. Cognizant Technology Solutions Corp also was the target of unusually large options trading on Wednesday. Traders acquired 11,541 put options on the company. This is an increase of approximately 734% compared to the typical daily volume of 1,383 put options.
Cognizant Technology Solutions Corp (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.66 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.07 earnings per share. Cognizant Technology Solutions Corp’s revenue was up 16.5% compared to the same quarter last year. On average, analysts predict that Cognizant Technology Solutions Corp will post $2.39 earnings per share for the current fiscal year.
CTSH has been the subject of a number of recent research reports. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Cognizant Technology Solutions Corp in a research note on Thursday. They now have a $52.00 price target on the stock, down previously from $57.50. Separately, 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. Finally, 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.
In other Cognizant Technology Solutions Corp news, VP Malcolm Frank unloaded 1,254 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The shares were 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 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.