Cognizant Technology Solutions (CTSH) PT Raised to $100.00 at Needham & Company LLC

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target increased by Needham & Company LLC from $90.00 to $100.00 in a report issued on Thursday. The firm currently has a “strong-buy” rating on the information technology service provider’s stock. Needham & Company LLC’s price target suggests a potential upside of 31.08% from the company’s current price.

A number of other equities analysts have also commented on CTSH. SunTrust Banks reiterated a “buy” rating and issued a $90.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday. Pivotal Research reiterated a “buy” rating and issued a $93.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday. Zacks Investment Research upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Wednesday, January 10th. Oppenheimer reiterated a “buy” rating and issued a $80.00 price objective on shares of Cognizant Technology Solutions in a report on Wednesday, November 1st. Finally, Morgan Stanley boosted their price objective on shares of Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Six research 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 stock currently has a consensus rating of “Buy” and a consensus target price of $84.21.

Cognizant Technology Solutions (NASDAQ:CTSH) traded up $1.13 during trading hours on Thursday, hitting $76.29. 5,844,559 shares of the company traded hands, compared to its average volume of 3,885,149. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.21 and a quick ratio of 3.29. The firm has a market cap of $44,984.02, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11. Cognizant Technology Solutions has a 1-year low of $57.00 and a 1-year high of $79.28.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.15. Cognizant Technology Solutions had a negative net margin of 0.50% and a negative return on equity of 0.67%. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the previous year, the business posted $0.87 EPS. The business’s quarterly revenue was up 10.6% on a year-over-year basis. equities research analysts forecast that Cognizant Technology Solutions will post 3.97 EPS for the current year.

In other news, General Counsel Matthew W. Friedrich sold 2,711 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $74.30, for a total value of $201,427.30. The sale was disclosed in a document filed with the SEC, which is accessible 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 shares were sold at an average price of $76.00, for a total transaction 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 90 days, insiders sold 996,790 shares of company stock worth $73,331,177. Company insiders own 1.08% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in shares of Cognizant Technology Solutions by 3.1% during the 4th quarter. BlackRock Inc. now owns 36,121,482 shares of the information technology service provider’s stock valued at $2,565,349,000 after buying an additional 1,088,469 shares during the last quarter. Edgewood Management LLC grew its position in shares of Cognizant Technology Solutions by 9.3% during the 3rd quarter. Edgewood Management LLC now owns 16,915,676 shares of the information technology service provider’s stock valued at $1,227,063,000 after buying an additional 1,443,368 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Cognizant Technology Solutions by 3.2% during the 3rd quarter. Nordea Investment Management AB now owns 10,076,020 shares of the information technology service provider’s stock valued at $730,914,000 after buying an additional 313,364 shares during the last quarter. Comgest Global Investors S.A.S. grew its position in shares of Cognizant Technology Solutions by 18.3% during the 4th quarter. Comgest Global Investors S.A.S. now owns 8,774,817 shares of the information technology service provider’s stock valued at $623,188,000 after buying an additional 1,358,200 shares during the last quarter. Finally, Pzena Investment Management LLC grew its position in shares of Cognizant Technology Solutions by 2.8% during the 4th quarter. Pzena Investment Management LLC now owns 7,119,634 shares of the information technology service provider’s stock valued at $505,636,000 after buying an additional 194,583 shares during the last quarter. 86.95% of the stock is owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY WARNING: “Cognizant Technology Solutions (CTSH) PT Raised to $100.00 at Needham & Company LLC” was first reported by American Banking News and is owned by of American Banking News. If you are reading this news story on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2018/02/11/cognizant-technology-solutions-ctsh-pt-raised-to-100-00-at-needham-company-llc.html.

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)

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply