The Cognizant Technology Solutions Corp. (CTSH) PT Lowered to $63.00

The Cognizant Technology Solutions Corp. (CTSH) PT Lowered to $63.00

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) had its target price lowered by research analysts at Jefferies Group from $70.00 to $63.00 in a report released on Monday. The brokerage currently has a “buy” rating on the information technology service provider’s stock. Jefferies Group’s price objective suggests a potential upside of 26.28% from the company’s current price.

CTSH has been the topic of a number of other reports. Barclays PLC reiterated a “buy” rating on shares of Cognizant Technology Solutions Corp. in a research report on Saturday, July 9th. Zacks Investment Research upgraded Cognizant Technology Solutions Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 15th. SunTrust Banks Inc. lowered Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $70.00 to $65.00 in a research report on Tuesday, July 12th. Credit Agricole SA lowered Cognizant Technology Solutions Corp. from an “outperform” rating to an “underperform” rating and decreased their price objective for the company from $70.00 to $60.00 in a research report on Wednesday, September 14th. Finally, Citigroup Inc. decreased their price objective on Cognizant Technology Solutions Corp. from $71.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $65.52.

Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 49.89 on Monday. Cognizant Technology Solutions Corp. has a 52 week low of $45.44 and a 52 week high of $69.80. The company has a market cap of $30.28 billion, a P/E ratio of 20.12 and a beta of 1.43. The firm’s 50-day moving average price is $54.56 and its 200 day moving average price is $58.33.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last announced its quarterly earnings data on Friday, August 5th. The information technology service provider reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.05. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.37 billion. Cognizant Technology Solutions Corp. had a return on equity of 19.31% and a net margin of 11.65%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company earned $0.79 EPS. On average, equities analysts predict that Cognizant Technology Solutions Corp. will post $3.38 EPS for the current fiscal year.

In other Cognizant Technology Solutions Corp. news, CEO Francisco Dsouza sold 200,000 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $57.69, for a total transaction of $11,538,000.00. Following the completion of the transaction, the chief executive officer now owns 422,602 shares in the company, valued at approximately $24,379,909.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Malcolm Frank sold 1,248 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $58.50, for a total value of $73,008.00. Following the transaction, the vice president now owns 3,945 shares of the company’s stock, valued at approximately $230,782.50. The disclosure for this sale can be found here. Corporate insiders own 0.81% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the company. Vontobel Asset Management Inc. boosted its position in Cognizant Technology Solutions Corp. by 13.0% in the third quarter. Vontobel Asset Management Inc. now owns 3,405,381 shares of the information technology service provider’s stock worth $167,550,000 after buying an additional 390,962 shares during the period. Gradient Investments LLC boosted its position in Cognizant Technology Solutions Corp. by 0.6% in the third quarter. Gradient Investments LLC now owns 5,385 shares of the information technology service provider’s stock worth $257,000 after buying an additional 34 shares during the period. LGT Capital Partners LTD. boosted its position in Cognizant Technology Solutions Corp. by 81.0% in the third quarter. LGT Capital Partners LTD. now owns 279,409 shares of the information technology service provider’s stock worth $13,331,000 after buying an additional 125,020 shares during the period. Advisory Services Network LLC boosted its position in Cognizant Technology Solutions Corp. by 12.3% in the third quarter. Advisory Services Network LLC now owns 14,726 shares of the information technology service provider’s stock worth $703,000 after buying an additional 1,613 shares during the period. Finally, Trust Co. of Oklahoma boosted its position in Cognizant Technology Solutions Corp. by 5.5% in the third quarter. Trust Co. of Oklahoma now owns 29,305 shares of the information technology service provider’s stock worth $1,398,000 after buying an additional 1,538 shares during the period. Hedge funds and other institutional investors own 87.00% of the company’s stock.

Cognizant Technology Solutions Corp. Company Profile

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