Cognizant Technology Solutions Corporation (NASDAQ:CTSH)‘s stock had its “buy” rating reissued by analysts at Royal Bank Of Canada in a research report issued on Wednesday. They currently have a $77.00 target price on the information technology service provider’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 8.30% from the company’s current price.

A number of other analysts have also recently weighed in on CTSH. Needham & Company LLC boosted their price target on Cognizant Technology Solutions Corporation from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $67.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Monday, May 15th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, May 31st. Pacific Crest reaffirmed an “overweight” rating and issued a $75.00 price target (up previously from $73.00) on shares of Cognizant Technology Solutions Corporation in a research report on Thursday, June 1st. Finally, Societe Generale cut Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating and boosted their price target for the stock from $68.00 to $74.00 in a research report on Monday, June 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Cognizant Technology Solutions Corporation currently has an average rating of “Buy” and an average price target of $70.87.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded down 0.45% during midday trading on Wednesday, hitting $71.10. The stock had a trading volume of 2,480,022 shares. Cognizant Technology Solutions Corporation has a 12-month low of $45.44 and a 12-month high of $72.07. The company’s 50-day moving average price is $70.26 and its 200 day moving average price is $64.69. The stock has a market cap of $41.99 billion, a P/E ratio of 22.79 and a beta of 1.14.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, topping 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 company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts predict that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

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In other news, EVP Allen Shaheen sold 442 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $70.58, for a total value of $31,196.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Rajeev Mehta sold 32,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $71.02, for a total value of $2,272,640.00. Following the completion of the sale, the president now owns 187,965 shares in the company, valued at $13,349,274.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 159,651 shares of company stock worth $11,254,729. Corporate insiders own 1.08% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC grew its stake in shares of Cognizant Technology Solutions Corporation by 173.9% in the 1st quarter. Private Advisor Group LLC now owns 30,271 shares of the information technology service provider’s stock valued at $1,219,000 after purchasing an additional 19,218 shares during the period. First Financial Corp IN grew its stake in shares of Cognizant Technology Solutions Corporation by 1.4% in the 2nd quarter. First Financial Corp IN now owns 17,816 shares of the information technology service provider’s stock valued at $1,183,000 after purchasing an additional 240 shares during the period. Davis R M Inc. grew its stake in shares of Cognizant Technology Solutions Corporation by 2.2% in the 1st quarter. Davis R M Inc. now owns 271,020 shares of the information technology service provider’s stock valued at $16,131,000 after purchasing an additional 5,751 shares during the period. Comerica Securities Inc. grew its stake in shares of Cognizant Technology Solutions Corporation by 7.5% in the 1st quarter. Comerica Securities Inc. now owns 7,778 shares of the information technology service provider’s stock valued at $463,000 after purchasing an additional 540 shares during the period. Finally, World Asset Management Inc boosted its holdings in shares of Cognizant Technology Solutions Corporation by 19.6% in the 1st quarter. World Asset Management Inc now owns 67,238 shares of the information technology service provider’s stock worth $4,002,000 after acquiring an additional 11,030 shares in the last quarter. Institutional investors 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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