Cognizant Technology Solutions Corporation (CTSH) Rating Reiterated by Jefferies Group LLC

Cognizant Technology Solutions Corporation (NASDAQ:CTSH)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Group LLC in a research note issued to investors on Thursday. They currently have a $81.00 target price on the information technology service provider’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 10.05% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on CTSH. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $80.00 target price (up from $66.00) on shares of Cognizant Technology Solutions Corporation in a research report on Thursday, June 15th. BidaskClub raised shares of Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. Cowen and Company reissued a “buy” rating and issued a $75.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Friday, July 28th. Vetr raised shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $71.62 target price on the stock in a research report on Wednesday, August 2nd. Finally, Loop Capital upgraded shares of Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and raised their price target for the company from $63.00 to $83.00 in a report on Friday, August 4th. Four analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $73.45.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 73.60 on Thursday. The stock has a market capitalization of $43.47 billion, a P/E ratio of 23.61 and a beta of 1.12. Cognizant Technology Solutions Corporation has a 52 week low of $49.35 and a 52 week high of $74.10. The firm’s 50-day moving average is $71.77 and its 200-day moving average is $66.97.

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

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In other Cognizant Technology Solutions Corporation news, EVP Allen Shaheen sold 442 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $70.58, for a total transaction of $31,196.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gajakarnan Vibushanan Kandiah sold 4,999 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $69.50, for a total value of $347,430.50. Following the sale, the insider now owns 10,515 shares in the company, valued at approximately $730,792.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 287,324 shares of company stock worth $20,518,833. 1.08% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Cornerstone Advisors Inc. grew its stake in Cognizant Technology Solutions Corporation by 0.3% during the 2nd quarter. Cornerstone Advisors Inc. now owns 3,633 shares of the information technology service provider’s stock valued at $241,000 after acquiring an additional 11 shares in the last quarter. Guardian Life Insurance Co. of America grew its stake in Cognizant Technology Solutions Corporation by 1.2% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock valued at $140,000 after acquiring an additional 27 shares in the last quarter. First Capital Advisors Group LLC. grew its stake in Cognizant Technology Solutions Corporation by 0.9% during the 2nd quarter. First Capital Advisors Group LLC. now owns 3,676 shares of the information technology service provider’s stock valued at $244,000 after acquiring an additional 32 shares in the last quarter. Comerica Securities Inc. grew its stake in Cognizant Technology Solutions Corporation by 0.4% during the 2nd quarter. Comerica Securities Inc. now owns 7,810 shares of the information technology service provider’s stock valued at $519,000 after acquiring an additional 32 shares in the last quarter. Finally, CENTRAL TRUST Co grew its stake in Cognizant Technology Solutions Corporation by 0.5% during the 2nd quarter. CENTRAL TRUST Co now owns 6,403 shares of the information technology service provider’s stock valued at $425,000 after acquiring an additional 35 shares in the last quarter. 87.60% of the stock is currently owned by institutional investors.

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.

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