Trade Report: Today, Cognizant Technology Solutions Corp.’s (CTSH) “Buy” Rating Reaffirm at Cantor Fitzgerald

Today, Cognizant Technology Solutions Corp.’s (CTSH) “Buy” Rating Reaffirm at Cantor Fitzgerald

Cognizant Technology Solutions Corp. (NASDAQ:CTSH)‘s stock had its “buy” rating restated by analysts at Cantor Fitzgerald in a report issued on Tuesday. They currently have a $68.00 price objective on the information technology service provider’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 27.70% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Vetr downgraded Cognizant Technology Solutions Corp. from a “strong-buy” rating to a “buy” rating and set a $60.28 price target for the company. in a report on Monday, November 7th. Needham & Company LLC decreased their price target on Cognizant Technology Solutions Corp. from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, November 7th. Deutsche Bank AG reaffirmed a “buy” rating and set a $69.00 price target on shares of Cognizant Technology Solutions Corp. in a report on Friday, October 21st. Jefferies Group decreased their price target on Cognizant Technology Solutions Corp. from $70.00 to $63.00 and set a “buy” rating for the company in a report on Monday, October 10th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $61.00 price target (down from $66.00) on shares of Cognizant Technology Solutions Corp. in a report on Sunday, October 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Cognizant Technology Solutions Corp. has an average rating of “Buy” and an average price target of $64.99.

Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 53.25 on Tuesday. The stock’s 50 day moving average is $52.14 and its 200-day moving average is $56.53. The stock has a market cap of $32.31 billion, a price-to-earnings ratio of 20.80 and a beta of 1.34. Cognizant Technology Solutions Corp. has a 12-month low of $45.44 and a 12-month high of $65.25.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last issued its quarterly earnings results on Monday, November 7th. The information technology service provider reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. Cognizant Technology Solutions Corp. had a return on equity of 19.42% and a net margin of 11.78%. The firm earned $3.45 billion during the quarter, compared to the consensus estimate of $3.46 billion. During the same period last year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Equities analysts anticipate that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current fiscal year.

In other Cognizant Technology Solutions Corp. news, VP Malcolm Frank sold 1,248 shares of Cognizant Technology Solutions Corp. 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 completion of the sale, the vice president now owns 3,945 shares in the company, valued at approximately $230,782.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Karen Mcloughlin sold 10,000 shares of Cognizant Technology Solutions Corp. stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $51.27, for a total value of $512,700.00. Following the completion of the sale, the chief financial officer now owns 52,614 shares of the company’s stock, valued at approximately $2,697,519.78. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. HBK Investments L P acquired a new stake in Cognizant Technology Solutions Corp. during the first quarter valued at approximately $1,329,000. AMP Capital Investors Ltd raised its position in Cognizant Technology Solutions Corp. by 1.2% in the first quarter. AMP Capital Investors Ltd now owns 535,884 shares of the information technology service provider’s stock valued at $33,466,000 after buying an additional 6,613 shares in the last quarter. National Pension Service raised its position in Cognizant Technology Solutions Corp. by 4.1% in the first quarter. National Pension Service now owns 352,062 shares of the information technology service provider’s stock valued at $22,074,000 after buying an additional 13,831 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Cognizant Technology Solutions Corp. by 0.3% in the first quarter. Envestnet Asset Management Inc. now owns 646,828 shares of the information technology service provider’s stock valued at $40,556,000 after buying an additional 2,219 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC raised its position in Cognizant Technology Solutions Corp. by 12,317.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 428,511 shares of the information technology service provider’s stock valued at $26,868,000 after buying an additional 425,060 shares in the last quarter. Institutional investors own 85.29% of the company’s stock.

Cognizant Technology Solutions Corp. Company Profile

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