Cognizant Technology Solutions Corporation (NASDAQ:CTSH)‘s stock had its “buy” rating reaffirmed by investment analysts at Cowen and Company in a research note issued on Thursday. They currently have a $80.00 price target on the information technology service provider’s stock. Cowen and Company’s target price would indicate a potential upside of 7.98% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Jefferies Group LLC reiterated a “buy” rating and issued a $81.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Thursday. Zacks Investment Research upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Tuesday. Royal Bank Of Canada reiterated a “buy” rating and issued a $77.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Sunday. Vetr upgraded Cognizant Technology Solutions Corporation from a “sell” rating to a “buy” rating and set a $76.85 price target on the stock in a report on Tuesday, September 19th. Finally, Wedbush reiterated an “outperform” rating on shares of Cognizant Technology Solutions Corporation in a report on Monday, September 18th. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $73.66.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded up 0.67% during midday trading on Thursday, reaching $74.09. 2,675,616 shares of the company’s stock were exchanged. The company has a market capitalization of $43.76 billion, a PE ratio of 23.77 and a beta of 1.12. The firm has a 50-day moving average of $71.89 and a 200-day moving average of $67.02. Cognizant Technology Solutions Corporation has a 1-year low of $49.35 and a 1-year high of $74.47.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted 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 consensus estimate of $0.82 by $0.11. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.65 billion. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.87 earnings per share. Equities analysts expect that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

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In other Cognizant Technology Solutions Corporation news, insider Sumithra Gomatam sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $72.00, for a total transaction of $576,000.00. Following the transaction, the insider now owns 21,908 shares of the company’s stock, valued at approximately $1,577,376. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Debashis Chatterjee sold 3,452 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $69.50, for a total value of $239,914.00. Following the transaction, the insider now directly owns 42,628 shares in the company, valued at approximately $2,962,646. The disclosure for this sale can be found here. In the last three months, insiders sold 289,514 shares of company stock worth $20,680,893. 1.08% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the business. Fulton Bank N.A. increased its position in shares of Cognizant Technology Solutions Corporation by 6.3% during the 3rd quarter. Fulton Bank N.A. now owns 23,833 shares of the information technology service provider’s stock worth $1,729,000 after purchasing an additional 1,410 shares during the last quarter. Eqis Capital Management Inc. increased its position in shares of Cognizant Technology Solutions Corporation by 12.0% during the 3rd quarter. Eqis Capital Management Inc. now owns 10,695 shares of the information technology service provider’s stock worth $776,000 after purchasing an additional 1,145 shares during the last quarter. Perpetual Ltd acquired a new position in shares of Cognizant Technology Solutions Corporation during the 2nd quarter worth approximately $4,171,000. Intl Fcstone Inc. acquired a new position in shares of Cognizant Technology Solutions Corporation during the 2nd quarter worth approximately $250,000. Finally, Gs Investments Inc. acquired a new position in shares of Cognizant Technology Solutions Corporation during the 2nd quarter worth approximately $2,337,000. 87.60% of the stock is currently owned by hedge funds and other 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.

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

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