Cognizant Technology Solutions (CTSH) Given “Buy” Rating at Barclays

Barclays reiterated their buy rating on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a research report released on Friday. They currently have a $86.00 price target on the information technology service provider’s stock.

A number of other research analysts also recently issued reports on CTSH. Zacks Investment Research downgraded Cognizant Technology Solutions from a buy rating to a hold rating in a research note on Wednesday. Oppenheimer reiterated a buy rating and set a $80.00 price objective on shares of Cognizant Technology Solutions in a research note on Wednesday, November 1st. Morgan Stanley boosted their price objective on Cognizant Technology Solutions from $74.00 to $77.00 and gave the company an equal weight rating in a research note on Thursday, November 2nd. Sanford C. Bernstein upped their price target on Cognizant Technology Solutions from $84.00 to $90.00 and gave the stock an outperform rating in a research note on Thursday, November 2nd. Finally, KeyCorp restated a buy rating and issued a $79.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, October 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. Cognizant Technology Solutions has an average rating of Buy and an average target price of $81.68.

Shares of Cognizant Technology Solutions (NASDAQ:CTSH) traded up $0.62 during trading hours on Friday, hitting $73.30. The company had a trading volume of 2,743,680 shares, compared to its average volume of 3,720,000. The company has a market cap of $43,590.00, a P/E ratio of 22.69, a PEG ratio of 1.39 and a beta of 1.08. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions has a 52 week low of $51.52 and a 52 week high of $76.51.

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

In other news, insider Debashis Chatterjee sold 2,190 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $74.00, for a total transaction of $162,060.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Sean Middleton sold 1,278 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $71.36, for a total value of $91,198.08. Following the sale, the insider now directly owns 3,366 shares in the company, valued at $240,197.76. The disclosure for this sale can be found here. Insiders have sold a total of 569,476 shares of company stock worth $41,071,682 over the last ninety days. Insiders own 1.08% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Comerica Securities Inc. raised its holdings in shares of Cognizant Technology Solutions by 0.4% during the 2nd 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 in the last quarter. CWA Asset Management Group LLC raised its holdings in shares of Cognizant Technology Solutions by 1.0% during the 2nd quarter. CWA Asset Management Group LLC now owns 5,717 shares of the information technology service provider’s stock worth $380,000 after acquiring an additional 57 shares in the last quarter. Westover Capital Advisors LLC raised its holdings in shares of Cognizant Technology Solutions by 2.2% during the 2nd quarter. Westover Capital Advisors LLC now owns 3,885 shares of the information technology service provider’s stock worth $258,000 after acquiring an additional 83 shares in the last quarter. Frontier Wealth Management LLC raised its holdings in shares of Cognizant Technology Solutions by 1.0% during the 2nd quarter. Frontier Wealth Management LLC now owns 10,099 shares of the information technology service provider’s stock worth $671,000 after acquiring an additional 99 shares in the last quarter. Finally, Simonbaker & Partners LLC raised its holdings in Cognizant Technology Solutions by 2.3% during the 2nd quarter. Simonbaker & Partners LLC now owns 4,853 shares of the information technology service provider’s stock valued at $322,000 after buying an additional 110 shares during the period. 85.98% of the stock is currently owned by institutional investors and hedge funds.

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Cognizant Technology Solutions 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 (NASDAQ:CTSH)

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