Cognizant Technology Solutions Corporation (CTSH) Price Target Increased to $90.00 by Analysts at Barclays PLC

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) had its target price raised by Barclays PLC from $80.00 to $90.00 in a report released on Monday morning. Barclays PLC currently has an overweight rating on the information technology service provider’s stock. The analysts noted that the move was a valuation call.

Other analysts also recently issued research reports about the stock. BMO Capital Markets reaffirmed a buy rating and set a $76.00 price target (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, August 4th. Zacks Investment Research downgraded shares of Cognizant Technology Solutions Corporation from a buy rating to a hold rating in a report on Thursday, August 10th. Needham & Company LLC reissued a buy rating and issued a $78.00 price objective (up previously from $72.00) on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, August 9th. Vetr raised shares of Cognizant Technology Solutions Corporation from a sell rating to a buy rating and set a $76.85 price objective on the stock in a report on Tuesday, September 19th. Finally, Berenberg Bank raised shares of Cognizant Technology Solutions Corporation from a hold rating to a buy rating and raised their price objective for the stock from $65.00 to $85.00 in a report on Tuesday, August 8th. Five equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. Cognizant Technology Solutions Corporation currently has an average rating of Buy and an average price target of $77.67.

Shares of Cognizant Technology Solutions Corporation (CTSH) traded down 0.11% on Monday, hitting $75.43. 4,289,779 shares of the stock were exchanged. The company has a 50-day moving average price of $73.22 and a 200 day moving average price of $68.52. Cognizant Technology Solutions Corporation has a 12 month low of $51.12 and a 12 month high of $76.51. The company has a market cap of $44.55 billion, a PE ratio of 24.20 and a beta of 1.12.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.65 billion. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. Cognizant Technology Solutions Corporation’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business earned $0.87 EPS. Equities analysts forecast 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, COO Srinivasan Veeraraghavachary sold 2,500 shares of Cognizant Technology Solutions Corporation stock in a transaction on Friday, August 4th. The shares were sold at an average price of $71.00, for a total transaction of $177,500.00. Following the completion of the transaction, the chief operating officer now directly owns 27,165 shares of the company’s stock, valued at $1,928,715. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Allen Shaheen sold 442 shares of Cognizant Technology Solutions Corporation stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $70.58, for a total transaction of $31,196.36. The disclosure for this sale can be found here. Insiders sold 281,095 shares of company stock worth $20,095,913 in the last 90 days. 1.08% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pathstone Family Office LLC boosted its stake in shares of Cognizant Technology Solutions Corporation by 1,208.8% during the second quarter. Pathstone Family Office LLC now owns 1,479 shares of the information technology service provider’s stock valued at $2,485,000 after purchasing an additional 1,366 shares during the period. Acrospire Investment Management LLC boosted its stake in shares of Cognizant Technology Solutions Corporation by 92.6% during the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after purchasing an additional 800 shares during the period. WFG Advisors LP boosted its stake in shares of Cognizant Technology Solutions Corporation by 46.4% during 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 during the period. Krilogy Financial LLC purchased a new stake in shares of Cognizant Technology Solutions Corporation during the second quarter valued at $137,000. Finally, Guardian Life Insurance Co. of America boosted its stake in shares of 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 valued at $140,000 after purchasing an additional 27 shares during the period. 87.35% of the stock is 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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