Cognizant Technology Solutions (CTSH) Stock Rating Upgraded by BidaskClub

Cognizant Technology Solutions (NASDAQ:CTSH) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Several other research firms also recently commented on CTSH. Bank of America downgraded Cognizant Technology Solutions from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $91.00 to $81.00 in a report on Tuesday, September 4th. HSBC upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, September 18th. KeyCorp decreased their price objective on Cognizant Technology Solutions from $91.00 to $89.00 and set an “overweight” rating for the company in a report on Friday, August 3rd. Cowen restated a “buy” rating and set a $87.00 price objective on shares of Cognizant Technology Solutions in a report on Friday, August 3rd. Finally, BMO Capital Markets restated a “buy” rating and set a $85.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $83.95.

NASDAQ CTSH opened at $68.67 on Wednesday. The company has a market cap of $39.76 billion, a PE ratio of 19.45, a PEG ratio of 1.40 and a beta of 0.96. Cognizant Technology Solutions has a 52 week low of $65.14 and a 52 week high of $85.10. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings data on Tuesday, October 30th. The information technology service provider reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.06. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.08 billion. Cognizant Technology Solutions had a return on equity of 22.54% and a net margin of 9.07%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 earnings per share. On average, equities analysts anticipate that Cognizant Technology Solutions will post 4.18 earnings per share for the current fiscal year.

In related news, insider Gajakarnan Vibushanan Kandiah sold 665 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $77.60, for a total transaction of $51,604.00. Following the transaction, the insider now owns 14,683 shares of the company’s stock, valued at $1,139,400.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Robert Telesmanic sold 5,062 shares of Cognizant Technology Solutions stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $68.00, for a total value of $344,216.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,773 shares of company stock worth $929,282. 0.60% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in CTSH. BlackRock Inc. boosted its position in Cognizant Technology Solutions by 6.9% in the second quarter. BlackRock Inc. now owns 42,845,471 shares of the information technology service provider’s stock worth $3,384,363,000 after purchasing an additional 2,775,975 shares during the last quarter. Voya Investment Management LLC boosted its position in Cognizant Technology Solutions by 909.3% in the second quarter. Voya Investment Management LLC now owns 2,163,755 shares of the information technology service provider’s stock worth $170,915,000 after purchasing an additional 1,949,375 shares during the last quarter. Commonwealth Bank of Australia boosted its position in Cognizant Technology Solutions by 1,273.4% in the third quarter. Commonwealth Bank of Australia now owns 2,009,285 shares of the information technology service provider’s stock worth $154,871,000 after purchasing an additional 1,862,983 shares during the last quarter. Flossbach Von Storch AG boosted its position in Cognizant Technology Solutions by 225.1% in the second quarter. Flossbach Von Storch AG now owns 1,464,966 shares of the information technology service provider’s stock worth $115,718,000 after purchasing an additional 1,014,395 shares during the last quarter. Finally, FIL Ltd boosted its position in Cognizant Technology Solutions by 30.6% in the third quarter. FIL Ltd now owns 4,093,921 shares of the information technology service provider’s stock worth $315,846,000 after purchasing an additional 958,946 shares during the last quarter. 88.12% of the stock is currently owned by institutional investors.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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