Cognizant Technology Solutions Corporation (NASDAQ:CTSH) was upgraded by equities research analysts at Loop Capital from a “hold” rating to a “buy” rating in a research report issued on Friday, MarketBeat.com reports. The firm presently has a $83.00 target price on the information technology service provider’s stock, up from their prior target price of $63.00. Loop Capital’s target price would indicate a potential upside of 18.10% from the company’s current price.

Other research analysts have also issued research reports about the stock. Credit Suisse Group set a $70.00 price target on shares of Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research note on Saturday, May 6th. Needham & Company LLC restated a “buy” rating and set a $70.00 price target (up previously from $65.00) on shares of Cognizant Technology Solutions Corporation in a research note on Friday, May 5th. Cantor Fitzgerald restated a “buy” rating and set a $67.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Friday, May 5th. Vetr lowered shares of Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating and set a $67.50 price target on the stock. in a research note on Monday, May 1st. Finally, Deutsche Bank AG restated a “buy” rating and set a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $68.40.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 70.28 on Friday. The stock has a market cap of $41.39 billion, a PE ratio of 25.57 and a beta of 1.17. The company has a 50-day moving average of $68.24 and a 200 day moving average of $62.18. Cognizant Technology Solutions Corporation has a one year low of $45.44 and a one year high of $71.57.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the business posted $0.87 EPS. Cognizant Technology Solutions Corporation’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, analysts predict that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.

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In other Cognizant Technology Solutions Corporation news, COO Srinivasan Veeraraghavachary sold 2,500 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $71.00, for a total transaction of $177,500.00. Following the completion of the transaction, the chief operating officer now directly owns 27,165 shares in the company, valued at $1,928,715. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allen Shaheen sold 4,186 shares of the company’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $67.56, for a total transaction of $282,806.16. Following the transaction, the executive vice president now owns 442 shares of the company’s stock, valued at $29,861.52. The disclosure for this sale can be found here. Insiders have sold 47,845 shares of company stock worth $3,237,117 over the last three months. 1.08% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the company. Guardian Life Insurance Co. of America boosted its position in Cognizant Technology Solutions Corporation by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock worth $140,000 after buying an additional 27 shares in the last quarter. Assetmark Inc. boosted its position in Cognizant Technology Solutions Corporation by 24.2% in the first quarter. Assetmark Inc. now owns 2,592 shares of the information technology service provider’s stock worth $154,000 after buying an additional 505 shares in the last quarter. IFP Advisors Inc boosted its position in Cognizant Technology Solutions Corporation by 40.8% in the first quarter. IFP Advisors Inc now owns 2,696 shares of the information technology service provider’s stock worth $160,000 after buying an additional 781 shares in the last quarter. Acadian Asset Management LLC boosted its position in Cognizant Technology Solutions Corporation by 253.9% in the first quarter. Acadian Asset Management LLC now owns 3,231 shares of the information technology service provider’s stock worth $192,000 after buying an additional 2,318 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in Cognizant Technology Solutions Corporation during the first quarter worth $192,000. Institutional investors own 89.21% of the company’s stock.

Cognizant Technology Solutions Corporation Company Profile

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

Analyst Recommendations for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

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