Vetr Upgrades Cognizant Technology Solutions (CTSH) to “Strong-Buy”

Vetr upgraded shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a hold rating to a strong-buy rating in a report issued on Wednesday. They currently have $95.56 target price on the information technology service provider’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Barclays boosted their price target on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an overweight rating in a research report on Monday, October 30th. They noted that the move was a valuation call. Royal Bank Of Canada restated a buy rating and issued a $77.00 price objective on shares of Cognizant Technology Solutions in a research note on Sunday, October 8th. Zacks Investment Research lowered shares of Cognizant Technology Solutions from a buy rating to a hold rating in a research note on Tuesday, November 7th. Robert W. Baird lifted their price objective on shares of Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an outperform rating in a research note on Thursday, October 19th. Finally, Pivotal Research assumed coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, November 8th. They issued a buy rating and a $93.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the company’s stock. Cognizant Technology Solutions has an average rating of Buy and an average target price of $81.91.

Shares of Cognizant Technology Solutions (NASDAQ:CTSH) opened at $71.36 on Wednesday. Cognizant Technology Solutions has a 1 year low of $51.52 and a 1 year high of $76.51. The firm has a market cap of $42,619.54, a price-to-earnings ratio of 21.58, a P/E/G ratio of 1.63 and a beta of 1.08. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.13. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The firm had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the company earned $0.86 earnings per share. Cognizant Technology Solutions’s quarterly revenue was up 9.1% compared to the same quarter last year. equities analysts predict that Cognizant Technology Solutions will post 3.35 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Monday, November 20th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. Cognizant Technology Solutions’s dividend payout ratio (DPR) is 18.52%.

In other news, insider Venkat Krishnaswamy sold 4,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $75.00, for a total transaction of $300,000.00. Following the transaction, the insider now directly owns 3,919 shares in the company, valued at $293,925. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Allen Shaheen sold 2,358 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $70.20, for a total transaction of $165,531.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 644,918 shares of company stock worth $46,568,899. Company insiders own 1.08% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC grew its position in Cognizant Technology Solutions by 92.6% during the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after buying an additional 800 shares during the period. Bank of Nova Scotia Trust Co. acquired a new position in Cognizant Technology Solutions during the third quarter worth about $121,000. WFG Advisors LP grew its position in Cognizant Technology Solutions by 46.4% during the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after buying an additional 621 shares during the period. Krilogy Financial LLC acquired a new position in Cognizant Technology Solutions during the second quarter worth about $137,000. Finally, BB&T Investment Services Inc. grew its position in Cognizant Technology Solutions by 86.8% during the third quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock worth $141,000 after buying an additional 1,011 shares during the period. Institutional investors and hedge funds own 87.31% of the company’s stock.

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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.

To view Vetr’s full report, visit Vetr’s official website.

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