Cognizant Technology Solutions Corporation (NASDAQ:CTSH)‘s stock had its “buy” rating reissued by equities research analysts at SunTrust Banks, Inc. in a note issued to investors on Friday. They presently have a $85.00 price target on the information technology service provider’s stock. SunTrust Banks, Inc.’s target price would suggest a potential upside of 14.45% from the company’s previous close.

A number of other equities research analysts have also weighed in on CTSH. Cowen and Company restated a “buy” rating and set a $75.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Friday, July 28th. Vetr upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $71.62 price objective on the stock in a research report on Wednesday, August 2nd. Loop Capital upgraded Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $63.00 to $83.00 in a research report on Friday, August 4th. Credit Suisse Group set a $80.00 price objective on Cognizant Technology Solutions Corporation and gave the stock a “buy” rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Finally, BMO Capital Markets restated a “buy” rating and set a $76.00 price objective (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, August 4th. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $80.71.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at $74.27 on Friday. The company has a current ratio of 3.29, a quick ratio of 3.35 and a debt-to-equity ratio of 0.07. The company has a market cap of $43.92 billion, a PE ratio of 22.20, a P/E/G ratio of 1.70 and a beta of 1.10.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions Corporation had a return on equity of 18.94% and a net margin of 13.42%. The company had revenue of $3.77 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the company posted $0.86 EPS. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. analysts anticipate that Cognizant Technology Solutions Corporation will post 3.3 EPS for the current year.

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In related news, insider Venkat Krishnaswamy sold 8,151 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $70.93, for a total transaction of $578,150.43. Following the transaction, the insider now directly owns 9,429 shares of the company’s stock, valued at approximately $668,798.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Srinivasan Veeraraghavachary sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $72.00, for a total value of $180,000.00. Following the transaction, the chief operating officer now directly owns 24,665 shares in the company, valued at $1,775,880. The disclosure for this sale can be found here. Insiders sold a total of 281,758 shares of company stock worth $20,158,801 over the last three months. 1.08% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Cognizant Technology Solutions Corporation by 3,470.1% during the 1st quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock worth $2,425,316,000 after buying an additional 39,606,526 shares during the period. FMR LLC raised its stake in Cognizant Technology Solutions Corporation by 81.6% during the 2nd quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock worth $1,664,366,000 after buying an additional 11,262,360 shares during the period. State Street Corp raised its stake in Cognizant Technology Solutions Corporation by 1.8% during the 1st quarter. State Street Corp now owns 24,267,262 shares of the information technology service provider’s stock worth $1,444,391,000 after buying an additional 435,142 shares during the period. Pzena Investment Management LLC raised its stake in Cognizant Technology Solutions Corporation by 4.4% during the 2nd quarter. Pzena Investment Management LLC now owns 7,010,880 shares of the information technology service provider’s stock worth $465,522,000 after buying an additional 296,899 shares during the period. Finally, Swedbank raised its stake in Cognizant Technology Solutions Corporation by 1.8% during the 3rd quarter. Swedbank now owns 6,621,266 shares of the information technology service provider’s stock worth $480,307,000 after buying an additional 116,263 shares during the period. 87.35% of the stock is currently owned by institutional investors and hedge funds.

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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