Cognizant Technology Solutions Corporation (CTSH) Lifted to Buy at Vetr Inc.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) was upgraded by analysts at Vetr from a “sell” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $76.85 target price on the information technology service provider’s stock. Vetr‘s price target would indicate a potential upside of 6.00% from the company’s current price.

Other research analysts have also issued research reports about the company. Bank of America Corporation reissued a “buy” rating and issued a $86.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Tuesday, September 12th. Wedbush restated an “outperform” rating on shares of Cognizant Technology Solutions Corporation in a research note on Monday. KeyCorp restated a “buy” rating and issued a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Friday, September 8th. Robert W. Baird reiterated a “buy” rating and set a $80.00 target price on shares of Cognizant Technology Solutions Corporation in a research note on Sunday, September 10th. Finally, Zacks Investment Research downgraded Cognizant Technology Solutions Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $72.51.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 0.64% during mid-day trading on Tuesday, hitting $72.50. The company had a trading volume of 2,620,376 shares. The company has a market capitalization of $42.82 billion, a PE ratio of 23.26 and a beta of 1.14. The company’s 50-day moving average is $70.75 and its 200 day moving average is $65.41. Cognizant Technology Solutions Corporation has a one year low of $45.44 and a one year high of $73.00.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the prior year, the business earned $0.87 EPS. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities research analysts forecast that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current fiscal year.

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In related news, insider Ramakrishna Prasa Chintamaneni sold 5,051 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $68.00, for a total transaction of $343,468.00. Following the sale, the insider now owns 20,047 shares of the company’s stock, valued at $1,363,196. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Srinivasan Veeraraghavachary sold 2,500 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $71.00, for a total transaction of $177,500.00. Following the sale, the chief operating officer now directly owns 27,165 shares in the company, valued at approximately $1,928,715. The disclosure for this sale can be found here. Insiders have sold a total of 280,807 shares of company stock worth $20,029,239 over the last three months. 1.08% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cornerstone Advisors Inc. raised its position in Cognizant Technology Solutions Corporation by 0.3% during the second quarter. Cornerstone Advisors Inc. now owns 3,633 shares of the information technology service provider’s stock worth $241,000 after acquiring an additional 11 shares during the last quarter. Guardian Life Insurance Co. of America raised its position in Cognizant Technology Solutions Corporation by 1.2% during the first quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock worth $140,000 after acquiring an additional 27 shares during the last quarter. First Capital Advisors Group LLC. raised its position in Cognizant Technology Solutions Corporation by 0.9% during the second quarter. First Capital Advisors Group LLC. now owns 3,676 shares of the information technology service provider’s stock worth $244,000 after acquiring an additional 32 shares during the last quarter. Comerica Securities Inc. raised its position in Cognizant Technology Solutions Corporation by 0.4% during the second quarter. Comerica Securities Inc. now owns 7,810 shares of the information technology service provider’s stock worth $519,000 after acquiring an additional 32 shares during the last quarter. Finally, CENTRAL TRUST Co raised its position in Cognizant Technology Solutions Corporation by 0.5% during the second quarter. CENTRAL TRUST Co now owns 6,403 shares of the information technology service provider’s stock worth $425,000 after acquiring an additional 35 shares during the last quarter. Institutional investors own 87.59% of the company’s stock.

Cognizant Technology Solutions Corporation 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 Corporation (NASDAQ:CTSH)

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