Cognizant Technology Solutions Corporation (NASDAQ:CTSH)‘s stock had its “buy” rating restated by Robert W. Baird in a research note issued to investors on Sunday. They currently have a $80.00 price objective on the information technology service provider’s stock. Robert W. Baird’s price objective would indicate a potential upside of 12.52% from the company’s previous close.

Other research analysts also recently issued research reports about the company. BMO Capital Markets reiterated a “buy” rating and issued a $76.00 price objective (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, August 4th. Needham & Company LLC reiterated a “buy” rating and issued a $78.00 price objective (up previously from $72.00) on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, August 9th. Zacks Investment Research downgraded Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 10th. Loop Capital upgraded 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 upgraded 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 issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $70.87.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded down 0.45% during midday trading on Friday, reaching $71.10. The company’s stock had a trading volume of 2,480,022 shares. The stock’s 50-day moving average price is $70.26 and its 200-day moving average price is $64.69. The company has a market cap of $41.99 billion, a P/E ratio of 22.81 and a beta of 1.14. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $72.07.

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

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In other news, insider Venkat Krishnaswamy sold 8,151 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $70.93, for a total value of $578,150.43. Following the completion of the sale, the insider now directly owns 9,429 shares of the company’s stock, valued at approximately $668,798.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean Middleton sold 1,460 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $67.39, for a total value of $98,389.40. Following the completion of the sale, the insider now directly owns 2,308 shares of the company’s stock, valued at $155,536.12. The disclosure for this sale can be found here. Insiders sold a total of 159,651 shares of company stock valued at $11,254,729 over the last three months. Insiders own 1.08% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of CTSH. Acadian Asset Management LLC lifted its holdings in shares of Cognizant Technology Solutions Corporation by 253.9% in the 1st quarter. Acadian Asset Management LLC now owns 3,231 shares of the information technology service provider’s stock valued at $192,000 after buying an additional 2,318 shares during the period. Parnassus Investments CA purchased a new position in Cognizant Technology Solutions Corporation in the 1st quarter valued at approximately $23,868,000. Eqis Capital Management Inc. increased its stake in Cognizant Technology Solutions Corporation by 48.4% in the 1st quarter. Eqis Capital Management Inc. now owns 8,520 shares of the information technology service provider’s stock valued at $507,000 after purchasing an additional 2,777 shares in the last quarter. Compass Capital Management Inc. increased its stake in Cognizant Technology Solutions Corporation by 1.5% in the 1st quarter. Compass Capital Management Inc. now owns 372,497 shares of the information technology service provider’s stock valued at $22,171,000 after purchasing an additional 5,657 shares in the last quarter. Finally, Eagle Ridge Investment Management increased its stake in Cognizant Technology Solutions Corporation by 2.2% in the 1st quarter. Eagle Ridge Investment Management now owns 103,690 shares of the information technology service provider’s stock valued at $6,172,000 after purchasing an additional 2,242 shares in the last quarter. 87.64% of the stock is owned by institutional investors and hedge funds.

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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