Cognizant Technology Solutions Corporation (NASDAQ:CTSH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $82.00 price target on the information technology service provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 10.81% from the company’s current price.

According to Zacks, “Cognizant's strong growth can be attributed to its significant exposure to the fast-growing verticals like Financial Services and Healthcare. The company narrowed its top-line guidance for 2017, which reflects improved visibility. Moreover, the company raised its earnings guidance. We believe that the results and the guidance indicate the company’s ability in harnessing the ongoing digital transition. The company is significantly benefiting from accretive acquisitions. Cognizant has gained deep industry expertise and knowledge of the domains through partnerships with top firms like Microsoft and SAP.  Moreover, this strategy has enabled the company to deliver more value to clients and capitalize on new opportunities. However, stiff competition in the IT services market is a concern.”

CTSH has been the subject of several other research reports. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $80.00 price target (up previously from $66.00) on shares of Cognizant Technology Solutions Corporation in a report on Thursday, June 15th. BidaskClub raised shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd. Cowen and Company reissued a “buy” rating and issued a $75.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Friday, July 28th. Vetr raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $71.62 price target for the company in a report on Wednesday, August 2nd. Finally, Loop Capital raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and boosted their price target for the stock from $63.00 to $83.00 in a report on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Cognizant Technology Solutions Corporation has an average rating of “Buy” and a consensus price target of $72.99.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 0.48% during mid-day trading on Tuesday, reaching $74.00. 2,089,174 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $71.67 and its 200-day moving average price is $66.92. Cognizant Technology Solutions Corporation has a one year low of $49.35 and a one year high of $74.10. The company has a market capitalization of $43.71 billion, a PE ratio of 23.74 and a beta of 1.12.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.11. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 EPS. On average, equities analysts expect 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 company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $70.58, for a total value of $31,196.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gajakarnan Vibushanan Kandiah sold 4,999 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $69.50, for a total transaction of $347,430.50. Following the completion of the transaction, the insider now directly owns 10,515 shares in the company, valued at approximately $730,792.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 287,324 shares of company stock worth $20,518,833. Corporate insiders own 1.08% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CTSH. Brandes Investment Partners LP lifted its position in Cognizant Technology Solutions Corporation by 26.7% in the first quarter. Brandes Investment Partners LP now owns 262,862 shares of the information technology service provider’s stock valued at $15,646,000 after buying an additional 55,446 shares during the last quarter. Comgest Global Investors S.A.S. acquired a new position in Cognizant Technology Solutions Corporation in the first quarter valued at about $224,748,000. Coronation Fund Managers Ltd. lifted its position in Cognizant Technology Solutions Corporation by 0.8% in the first quarter. Coronation Fund Managers Ltd. now owns 845,866 shares of the information technology service provider’s stock valued at $50,346,000 after buying an additional 6,894 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Cognizant Technology Solutions Corporation in the first quarter valued at about $1,990,000. Finally, Meiji Yasuda Life Insurance Co acquired a new position in Cognizant Technology Solutions Corporation in the first quarter valued at about $542,000. 87.60% of the stock is currently owned by institutional investors.

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.

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

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