Cognizant Technology Solutions Corp (CTSH) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) have earned an average rating of “Buy” from the twenty-eight brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $82.23.
A number of research analysts have commented on CTSH shares. SunTrust Banks restated a “buy” rating and issued a $85.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, November 3rd. Credit Suisse Group restated an “outperform” rating and issued a $89.00 target price (up previously from $80.00) on shares of Cognizant Technology Solutions in a research note on Thursday, November 2nd. Citigroup boosted their target price on Cognizant Technology Solutions from $73.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Royal Bank of Canada restated a “buy” rating and issued a $77.00 target price on shares of Cognizant Technology Solutions in a research note on Sunday, October 8th. Finally, Sanford C. Bernstein boosted their target price on Cognizant Technology Solutions from $84.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, November 2nd.
In other news, insider Venkat Krishnaswamy sold 4,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $75.00, for a total transaction of $300,000.00. Following the completion of the sale, the insider now owns 3,919 shares in the company, valued at approximately $293,925. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Francisco Dsouza sold 482,000 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $72.04, for a total value of $34,723,280.00. Following the sale, the chief executive officer now owns 621,643 shares of the company’s stock, valued at approximately $44,783,161.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 807,286 shares of company stock valued at $58,679,209. 1.08% of the stock is currently owned by corporate insiders.
Shares of Cognizant Technology Solutions (NASDAQ:CTSH) traded up $0.55 during mid-day trading on Monday, hitting $74.56. The stock had a trading volume of 3,816,200 shares, compared to its average volume of 3,483,322. Cognizant Technology Solutions has a twelve month low of $51.52 and a twelve month high of $76.51. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $43,960.00, a P/E ratio of 23.08, a price-to-earnings-growth ratio of 1.43 and a beta of 1.08.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.13. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 9.1% compared to the same quarter last year. analysts anticipate that Cognizant Technology Solutions will post 3.35 EPS for the current fiscal year.
Cognizant Technology Solutions 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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