Cognizant Technology Solutions Corporation (CTSH) PT Raised to $90.00

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) had its price target increased by research analysts at Sanford C. Bernstein from $84.00 to $90.00 in a research note issued on Thursday. The brokerage currently has an “outperform” rating on the information technology service provider’s stock. Sanford C. Bernstein’s price objective points to a potential upside of 18.94% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the company. Morgan Stanley upped their price target on Cognizant Technology Solutions Corporation from $74.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday. BMO Capital Markets upped their price target on Cognizant Technology Solutions Corporation from $76.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday. Credit Suisse Group reaffirmed an “outperform” rating and set a $89.00 price target (up previously from $80.00) on shares of Cognizant Technology Solutions Corporation in a research report on Thursday. William Blair raised Cognizant Technology Solutions Corporation from a “market perform” rating to an “outperform” rating in a research report on Wednesday. Finally, Needham & Company LLC raised Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating and upped their price target for the stock from $78.00 to $90.00 in a research report on Wednesday. Four research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. Cognizant Technology Solutions Corporation presently has a consensus rating of “Buy” and an average price target of $80.11.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.13. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the prior year, the firm posted $0.86 EPS. The business’s revenue was up 9.1% on a year-over-year basis.

WARNING: “Cognizant Technology Solutions Corporation (CTSH) PT Raised to $90.00” was first reported by Community Financial News and is owned by of Community Financial News. If you are accessing this report on another site, it was illegally stolen and reposted in violation of United States and international copyright and trademark legislation. The legal version of this report can be viewed at https://www.com-unik.info/2017/11/02/cognizant-technology-solutions-corporation-ctsh-pt-raised-to-90-00.html.

In related news, insider Debashis Chatterjee sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $74.00, for a total value of $162,060.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Allen Shaheen sold 442 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $70.58, for a total value of $31,196.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 281,095 shares of company stock worth $20,095,913. 1.08% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Linscomb & Williams Inc. acquired a new stake in Cognizant Technology Solutions Corporation in the third quarter valued at about $278,000. Robeco Institutional Asset Management B.V. boosted its stake in Cognizant Technology Solutions Corporation by 45.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 143,385 shares of the information technology service provider’s stock valued at $10,401,000 after buying an additional 44,982 shares in the last quarter. Comgest Global Investors S.A.S. boosted its stake in Cognizant Technology Solutions Corporation by 57.7% in the second quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock valued at $395,400,000 after buying an additional 2,178,800 shares in the last quarter. Oak Ridge Investments LLC boosted its stake in Cognizant Technology Solutions Corporation by 7.1% in the second quarter. Oak Ridge Investments LLC now owns 169,645 shares of the information technology service provider’s stock valued at $11,264,000 after buying an additional 11,316 shares in the last quarter. Finally, Atlantic Trust Group LLC boosted its stake in Cognizant Technology Solutions Corporation by 1.3% in the second quarter. Atlantic Trust Group LLC now owns 637,050 shares of the information technology service provider’s stock valued at $42,300,000 after buying an additional 8,245 shares in the last quarter. 87.35% of the stock is currently owned by institutional investors and hedge funds.

About Cognizant Technology Solutions Corporation

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)

What are top analysts saying about Cognizant Technology Solutions Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Cognizant Technology Solutions Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit