Cognizant Technology Solutions Corporation (NASDAQ:CTSH) had its target price raised by equities researchers at Barclays PLC from $80.00 to $90.00 in a research report issued on Monday, The Fly reports. The brokerage currently has an “overweight” rating on the information technology service provider’s stock. Barclays PLC’s price objective suggests a potential upside of 19.38% from the stock’s previous close. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also recently weighed in on CTSH. Cowen and Company restated a “buy” rating and issued a $75.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Friday, July 28th. Vetr upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $71.62 price objective on the stock in a report on Wednesday, August 2nd. Loop Capital upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and upped their price objective for the stock from $63.00 to $83.00 in a report on Friday, August 4th. Credit Suisse Group set a $80.00 price objective on shares of Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a report on Friday, August 4th. They noted that the move was a valuation call. Finally, BMO Capital Markets restated 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. Four analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cognizant Technology Solutions Corporation has an average rating of “Buy” and an average price target of $74.71.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 75.39 on Monday. The firm has a market capitalization of $44.53 billion, a P/E ratio of 24.19 and a beta of 1.12. The stock has a 50 day moving average price of $73.10 and a 200 day moving average price of $68.26. Cognizant Technology Solutions Corporation has a 52 week low of $51.12 and a 52 week high of $75.51.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 the consensus estimate of $3.65 billion. During the same period in the prior year, the firm earned $0.87 earnings per share. Cognizant Technology Solutions Corporation’s revenue was up 8.9% on a year-over-year basis. Analysts forecast that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current year.

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In other news, COO Srinivasan Veeraraghavachary sold 2,500 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were 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 approximately $1,928,715. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allen Shaheen sold 442 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $70.58, for a total transaction of $31,196.36. The disclosure for this sale can be found here. Insiders have sold a total of 281,095 shares of company stock worth $20,095,913 over the last 90 days. Insiders own 1.08% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Comgest Global Investors S.A.S. grew its stake in Cognizant Technology Solutions Corporation by 57.7% during the second quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock valued at $395,400,000 after acquiring an additional 2,178,800 shares in the last quarter. Oak Ridge Investments LLC grew its stake in Cognizant Technology Solutions Corporation by 7.1% during the second quarter. Oak Ridge Investments LLC now owns 169,645 shares of the information technology service provider’s stock valued at $11,264,000 after acquiring an additional 11,316 shares in the last quarter. Atlantic Trust Group LLC grew its stake in Cognizant Technology Solutions Corporation by 1.3% during the second quarter. Atlantic Trust Group LLC now owns 637,050 shares of the information technology service provider’s stock valued at $42,300,000 after acquiring an additional 8,245 shares in the last quarter. Dalton Investments LLC grew its stake in Cognizant Technology Solutions Corporation by 7.3% during the second quarter. Dalton Investments LLC now owns 320,422 shares of the information technology service provider’s stock valued at $21,276,000 after acquiring an additional 21,800 shares in the last quarter. Finally, BT Investment Management Ltd purchased a new position in Cognizant Technology Solutions Corporation during the second quarter valued at $83,134,000. 87.35% of the stock is 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.

The Fly

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

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