Cognizant Technology Solutions’ (CTSH) “Buy” Rating Reaffirmed at SunTrust Banks

Cognizant Technology Solutions (NASDAQ:CTSH)‘s stock had its “buy” rating reissued by analysts at SunTrust Banks in a report issued on Wednesday.

Other equities analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Wednesday, January 10th. BidaskClub upgraded shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Barclays boosted their price target on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. BMO Capital Markets boosted their price target on shares of Cognizant Technology Solutions from $76.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, November 2nd. Finally, William Blair upgraded shares of Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research report on Wednesday, November 1st. Five research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $82.25.

Cognizant Technology Solutions (NASDAQ:CTSH) traded up $2.62 during trading hours on Wednesday, reaching $76.52. 7,111,541 shares of the company’s stock were exchanged, compared to its average volume of 3,530,000. The firm has a market capitalization of $45,120.00, a price-to-earnings ratio of 23.69, a PEG ratio of 1.48 and a beta of 1.11. Cognizant Technology Solutions has a 52-week low of $52.63 and a 52-week high of $79.28. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current 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 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.13. The firm had revenue of $3.77 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 earnings per share. analysts expect that Cognizant Technology Solutions will post 3.35 earnings per share for the current fiscal year.

In related news, CEO Francisco Dsouza sold 482,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $72.04, for a total transaction of $34,723,280.00. Following the completion of the sale, the chief executive officer now directly owns 621,643 shares of the company’s stock, valued at $44,783,161.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sumithra Gomatam sold 2,625 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $76.00, for a total transaction of $199,500.00. Following the sale, the insider now directly owns 40,979 shares of the company’s stock, valued at $3,114,404. The disclosure for this sale can be found here. Over the last three months, insiders have sold 961,064 shares of company stock valued at $70,504,403. 1.08% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of CTSH. Shine Investment Advisory Services Inc. raised its stake in shares of Cognizant Technology Solutions by 108.8% during the fourth quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock worth $107,000 after buying an additional 788 shares during the last quarter. Bank of Nova Scotia Trust Co. bought a new stake in Cognizant Technology Solutions in the third quarter valued at approximately $121,000. Cerebellum GP LLC bought a new stake in Cognizant Technology Solutions in the fourth quarter valued at approximately $128,000. WFG Advisors LP increased its stake in Cognizant Technology Solutions by 46.4% in the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after purchasing an additional 621 shares in the last quarter. Finally, Krilogy Financial LLC bought a new stake in Cognizant Technology Solutions in the second quarter valued at approximately $137,000. 86.95% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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