Cognizant Technology Solutions (CTSH) Lifted to Hold at BidaskClub

Cognizant Technology Solutions (NASDAQ:CTSH) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other brokerages also recently weighed in on CTSH. Vetr raised shares of Cognizant Technology Solutions from a “hold” rating to a “strong-buy” rating and set a $95.56 target price for the company in a research note on Wednesday, November 29th. Zacks Investment Research downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, January 12th. BMO Capital Markets lifted their target price on shares of Cognizant Technology Solutions from $76.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday, November 2nd. Needham & Company LLC raised shares of Cognizant Technology Solutions from a “buy” rating to a “strong-buy” rating and lifted their target price for the stock from $78.00 to $90.00 in a research note on Wednesday, November 1st. Finally, William Blair raised shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research note on Wednesday, November 1st. Five analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $81.98.

Cognizant Technology Solutions (CTSH) traded up $0.54 during mid-day trading on Friday, hitting $77.29. 3,079,223 shares of the stock traded hands, compared to its average volume of 2,961,080. The company has a market capitalization of $45,573.66, a P/E ratio of 23.85, a P/E/G ratio of 1.48 and a beta of 1.08. Cognizant Technology Solutions has a 12-month low of $51.52 and a 12-month high of $77.38. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 3.29.

Cognizant Technology Solutions (NASDAQ:CTSH) last released 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. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. sell-side analysts expect that Cognizant Technology Solutions will post 3.35 earnings per share for the current year.

In other news, insider Sumithra Gomatam sold 3,163 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $76.00, for a total transaction of $240,388.00. Following the completion of the transaction, the insider now directly owns 6,346 shares in the company, valued at $482,296. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Venkat Krishnaswamy sold 4,000 shares of Cognizant Technology Solutions stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $75.00, for a total transaction of $300,000.00. Following the transaction, the insider now owns 3,919 shares of the company’s stock, valued at $293,925. The disclosure for this sale can be found here. Insiders sold 889,911 shares of company stock valued at $64,936,834 over the last 90 days. Corporate insiders own 1.08% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CTSH. Rafferty Asset Management LLC grew its holdings in shares of Cognizant Technology Solutions by 9.4% during the second quarter. Rafferty Asset Management LLC now owns 21,475 shares of the information technology service provider’s stock valued at $1,426,000 after buying an additional 1,840 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Cognizant Technology Solutions during the second quarter worth about $1,719,000. Wealthfront Inc. purchased a new position in Cognizant Technology Solutions during the second quarter worth about $675,000. Mariner Wealth Advisors LLC boosted its holdings in Cognizant Technology Solutions by 10.6% during the second quarter. Mariner Wealth Advisors LLC now owns 40,680 shares of the information technology service provider’s stock worth $2,701,000 after purchasing an additional 3,903 shares during the last quarter. Finally, Advisor Group Inc. boosted its holdings in Cognizant Technology Solutions by 3.2% during the second quarter. Advisor Group Inc. now owns 37,986 shares of the information technology service provider’s stock worth $2,460,000 after purchasing an additional 1,167 shares during the last quarter. Hedge funds and other institutional investors own 86.04% of the company’s stock.

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About Cognizant Technology Solutions

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 (NASDAQ:CTSH)

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