Cognizant Technology Solutions (CTSH) Given a $100.00 Price Target by Credit Suisse Group Analysts

Cognizant Technology Solutions (NASDAQ:CTSH) has been given a $100.00 price target by stock analysts at Credit Suisse Group in a research report issued on Friday. The firm presently has a “buy” rating on the information technology service provider’s stock. Credit Suisse Group’s price objective suggests a potential upside of 31.08% from the stock’s previous close.

Several other research analysts have also commented on CTSH. Jefferies Group reissued a “buy” rating and issued a $81.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, October 12th. Cowen reissued a “buy” rating and issued a $80.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, October 12th. KeyCorp reissued a “buy” rating and issued a $79.00 price target on shares of Cognizant Technology Solutions in a research report on Thursday, October 12th. Robert W. Baird boosted their price target on Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, October 19th. Finally, Barclays boosted their price target on Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Six equities 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. Cognizant Technology Solutions presently has a consensus rating of “Buy” and an average price target of $84.21.

Shares of Cognizant Technology Solutions (NASDAQ CTSH) traded up $1.13 during mid-day trading on Friday, hitting $76.29. The company’s stock had a trading volume of 6,533,948 shares, compared to its average volume of 3,860,000. Cognizant Technology Solutions has a twelve month low of $57.00 and a twelve month high of $79.28. The stock has a market cap of $44,980.00, a PE ratio of 30.27, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11. The company has a quick ratio of 3.29, a current ratio of 3.21 and a debt-to-equity ratio of 0.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.15. The firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.82 billion. Cognizant Technology Solutions had a return on equity of 19.94% and a net margin of 10.15%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 EPS. analysts forecast that Cognizant Technology Solutions will post 3.94 EPS for the current fiscal year.

In other Cognizant Technology Solutions news, CEO Francisco Dsouza sold 482,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $72.04, for a total transaction of $34,723,280.00. Following the sale, the chief executive officer now owns 621,643 shares in the company, valued at approximately $44,783,161.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sumithra Gomatam sold 2,625 shares of the company’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $76.00, for a total value of $199,500.00. Following the completion of the sale, the insider now owns 40,979 shares in the company, valued at approximately $3,114,404. The disclosure for this sale can be found here. In the last quarter, insiders have sold 996,790 shares of company stock worth $73,331,177. Company insiders own 1.08% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Shine Investment Advisory Services Inc. boosted its stake in shares of Cognizant Technology Solutions by 108.8% in 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. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth about $107,000. Bank of Nova Scotia Trust Co. purchased a new stake in shares of Cognizant Technology Solutions in the third quarter worth about $121,000. Cerebellum GP LLC purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth about $128,000. Finally, WFG Advisors LP boosted its stake in shares of 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 worth $130,000 after buying an additional 621 shares during the last quarter. Hedge funds and other institutional investors own 86.95% of the company’s stock.

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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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