Cognizant Technology Solutions Corporation (NASDAQ:CTSH)‘s stock had its “buy” rating reissued by stock analysts at KeyCorp in a research note issued to investors on Friday. They currently have a $79.00 price target on the information technology service provider’s stock. KeyCorp’s price objective points to a potential upside of 10.61% from the stock’s previous close.

Other equities analysts have also issued reports about the company. BMO Capital Markets reissued a “buy” rating and set a $76.00 price objective (up from $69.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, August 4th. Needham & Company LLC reissued a “buy” rating and set a $78.00 price objective (up from $72.00) on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, August 9th. Zacks Investment Research lowered Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Loop Capital raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and increased their price objective for the company from $63.00 to $83.00 in a report on Friday, August 4th. Finally, Berenberg Bank raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and increased their price objective for the company from $65.00 to $85.00 in a report on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have assigned 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 $70.63.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 71.42 on Friday. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $72.07. The firm has a market capitalization of $42.18 billion, a PE ratio of 22.91 and a beta of 1.14. The company’s 50-day moving average price is $70.23 and its 200 day moving average price is $64.65.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.11. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.65 billion. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. Cognizant Technology Solutions Corporation’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 earnings per share. On average, equities analysts forecast 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, EVP Allen Shaheen sold 442 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $70.58, for a total transaction of $31,196.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Venkat Krishnaswamy sold 8,151 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $70.93, for a total value of $578,150.43. Following the sale, the insider now owns 9,429 shares in the company, valued at approximately $668,798.97. The disclosure for this sale can be found here. Insiders sold 159,651 shares of company stock worth $11,254,729 in the last quarter. 1.08% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pathstone Family Office LLC raised its position in Cognizant Technology Solutions Corporation by 1,208.8% during the second quarter. Pathstone Family Office LLC now owns 1,479 shares of the information technology service provider’s stock valued at $2,485,000 after purchasing an additional 1,366 shares in the last quarter. Acrospire Investment Management LLC raised its position in Cognizant Technology Solutions Corporation by 92.6% during the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after purchasing an additional 800 shares in the last quarter. Washington Trust Bank raised its position in Cognizant Technology Solutions Corporation by 6.8% during the second quarter. Washington Trust Bank now owns 1,789 shares of the information technology service provider’s stock valued at $102,000 after purchasing an additional 114 shares in the last quarter. Exane Derivatives raised its position in Cognizant Technology Solutions Corporation by 29.0% during the first quarter. Exane Derivatives now owns 1,862 shares of the information technology service provider’s stock valued at $117,000 after purchasing an additional 419 shares in the last quarter. Finally, WFG Advisors LP raised its position in Cognizant Technology Solutions Corporation by 46.4% during the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after purchasing an additional 621 shares in the last quarter. Institutional investors and hedge funds own 87.64% of the company’s stock.

About Cognizant Technology Solutions Corporation

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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