Cognizant Technology Solutions (CTSH) Stock Rating Reaffirmed by BMO Capital Markets

Cognizant Technology Solutions (NASDAQ:CTSH)‘s stock had its “buy” rating reissued by investment analysts at BMO Capital Markets in a report released on Tuesday. They presently have a $78.00 target price on the information technology service provider’s stock. BMO Capital Markets’ price target would suggest a potential upside of 9.09% from the stock’s current price.

Several other research analysts have also issued reports on the stock. BidaskClub lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday. Vetr upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “strong-buy” rating and set a $95.56 price target on the stock in a research report on Wednesday, November 29th. Pivotal Research assumed coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, November 8th. They issued a “buy” rating and a $93.00 price target on the stock. Zacks Investment Research lowered shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, SunTrust Banks restated a “buy” rating and issued a $85.00 price target on shares of Cognizant Technology Solutions in a research report on Friday, November 3rd. Six equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $81.91.

Shares of Cognizant Technology Solutions (NASDAQ:CTSH) opened at $71.50 on Tuesday. Cognizant Technology Solutions has a twelve month low of $51.52 and a twelve month high of $76.51. The company has a market capitalization of $41,528.70, a P/E ratio of 21.02, a P/E/G ratio of 1.59 and a beta of 1.07. 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 (NASDAQ:CTSH) last announced its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. analysts expect that Cognizant Technology Solutions will post 3.35 EPS for the current year.

In other Cognizant Technology Solutions news, President Rajeev Mehta sold 32,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $72.02, for a total transaction of $2,304,640.00. Following the transaction, the president now directly owns 170,063 shares in the company, valued at approximately $12,247,937.26. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Francisco Dsouza sold 482,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $72.04, for a total transaction of $34,723,280.00. Following the transaction, the chief executive officer now owns 621,643 shares in the company, valued at $44,783,161.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 650,317 shares of company stock worth $46,964,889. Corporate insiders own 1.08% of the company’s stock.

Several institutional investors have recently bought and sold shares of CTSH. Acrospire Investment Management LLC grew its holdings in shares of Cognizant Technology Solutions by 92.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after acquiring an additional 800 shares in the last quarter. Bank of Nova Scotia Trust Co. purchased a new position in shares of Cognizant Technology Solutions during the 3rd quarter valued at $121,000. WFG Advisors LP grew its holdings in shares of Cognizant Technology Solutions by 46.4% during the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after acquiring an additional 621 shares in the last quarter. Krilogy Financial LLC purchased a new position in shares of Cognizant Technology Solutions during the 2nd quarter valued at $137,000. Finally, BB&T Investment Services Inc. grew its holdings in shares of Cognizant Technology Solutions by 86.8% during the 3rd quarter. BB&T Investment Services Inc. now owns 2,176 shares of the information technology service provider’s stock valued at $141,000 after acquiring an additional 1,011 shares in the last quarter. Institutional investors and hedge funds own 87.06% 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.

Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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