Cognizant Technology Solutions Corporation (NASDAQ:CTSH)‘s stock had its “buy” rating reaffirmed by research analysts at KeyCorp in a note issued to investors on Thursday. They presently have a $79.00 price target on the information technology service provider’s stock. KeyCorp’s price objective suggests a potential upside of 6.63% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC reaffirmed 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 raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a report on Tuesday, August 8th. Berenberg Bank raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $85.00 in a report on Tuesday, August 8th. BMO Capital Markets reaffirmed 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. Finally, Credit Suisse Group set a $80.00 target price on shares of Cognizant Technology Solutions Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Cognizant Technology Solutions Corporation has an average rating of “Buy” and a consensus target price of $73.66.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 0.67% during midday trading on Thursday, hitting $74.09. 2,675,459 shares of the stock were exchanged. The firm’s 50-day moving average is $71.77 and its 200-day moving average is $66.97. Cognizant Technology Solutions Corporation has a 12 month low of $49.35 and a 12 month high of $74.47. The stock has a market cap of $43.76 billion, a price-to-earnings ratio of 23.77 and a beta of 1.12.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. 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 company earned $0.87 earnings per share. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts predict that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.

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In related news, insider Debashis Chatterjee sold 3,452 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $69.50, for a total transaction of $239,914.00. Following the sale, the insider now directly owns 42,628 shares of the company’s stock, valued at approximately $2,962,646. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Srinivasan Veeraraghavachary sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $71.00, for a total transaction of $177,500.00. Following the sale, the chief operating officer now directly owns 27,165 shares in the company, valued at $1,928,715. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 289,514 shares of company stock worth $20,680,893. 1.08% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CTSH. Quantum Capital Management increased its stake in Cognizant Technology Solutions Corporation by 8.9% during the 1st quarter. Quantum Capital Management now owns 6,179 shares of the information technology service provider’s stock worth $368,000 after buying an additional 506 shares during the period. McKinley Carter Wealth Services Inc. grew its holdings in Cognizant Technology Solutions Corporation by 1.6% during the 1st quarter. McKinley Carter Wealth Services Inc. now owns 32,917 shares of the information technology service provider’s stock worth $1,959,000 after acquiring an additional 519 shares in the last quarter. Prudential Financial Inc. grew its holdings in Cognizant Technology Solutions Corporation by 7.6% during the 1st quarter. Prudential Financial Inc. now owns 3,166,562 shares of the information technology service provider’s stock worth $188,474,000 after acquiring an additional 224,270 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its holdings in Cognizant Technology Solutions Corporation by 458.4% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 64,010 shares of the information technology service provider’s stock worth $3,810,000 after acquiring an additional 52,547 shares in the last quarter. Finally, Hunter Associates Investment Management LLC grew its holdings in Cognizant Technology Solutions Corporation by 0.9% during the 1st quarter. Hunter Associates Investment Management LLC now owns 43,560 shares of the information technology service provider’s stock worth $2,593,000 after acquiring an additional 400 shares in the last quarter. 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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