Cognizant Technology Solutions Corp Receives Consensus Recommendation of “Buy” from Analysts (NASDAQ:CTSH)
Cognizant Technology Solutions Corp (NASDAQ:CTSH) has earned an average recommendation of “Buy” from the eighteen analysts that are currently covering the company, AnalystRatings.Net reports. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $54.49.
Cognizant Technology Solutions Corp (NASDAQ:CTSH) opened at 44.49 on Friday. 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 $49.22 and its 200-day moving average is $49.27. The company has a market cap of $27.047 billion and a P/E ratio of 19.90.
Cognizant Technology Solutions Corp (NASDAQ:CTSH) last issued its quarterly earnings data 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. On average, analysts predict that Cognizant Technology Solutions Corp will post $2.37 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, August 7th. 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, August 7th. 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, August 7th. 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 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 sale was disclosed in a legal filing with the SEC, 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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