The Brokerages Set Cognizant Technology Solutions Corp. (NASDAQ:CTSH) Target Price at $65.55

The Brokerages Set Cognizant Technology Solutions Corp. (NASDAQ:CTSH) Target Price at $65.55

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) has earned an average recommendation of “Buy” from the twenty-seven brokerages that are covering the stock. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation, seventeen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $65.89.

Several research firms have recently issued reports on CTSH. Barclays PLC restated a “buy” rating on shares of Cognizant Technology Solutions Corp. in a report on Saturday, July 9th. Zacks Investment Research raised 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 cut 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 cut their price objective for the company from $70.00 to $60.00 in a research report on Wednesday, September 14th. Finally, Citigroup Inc. cut 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.

In other Cognizant Technology Solutions Corp. news, VP Malcolm Frank sold 1,248 shares of Cognizant Technology Solutions Corp. stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $58.50, for a total transaction of $73,008.00. Following the transaction, the vice president now directly owns 3,945 shares in the company, valued at approximately $230,782.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Francisco Dsouza sold 100,000 shares of Cognizant Technology Solutions Corp. stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $58.57, for a total transaction of $5,857,000.00. Following the transaction, the chief executive officer now owns 422,602 shares in the company, valued at $24,751,799.14. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Icon Advisers Inc. Co. purchased a new position in Cognizant Technology Solutions Corp. during the first quarter valued at $652,000. RMB Capital Management LLC purchased a new position in Cognizant Technology Solutions Corp. during the first quarter valued at $20,735,000. CLS Investments LLC boosted its position in Cognizant Technology Solutions Corp. by 11.9% in the first quarter. CLS Investments LLC now owns 7,124 shares of the information technology service provider’s stock valued at $447,000 after buying an additional 755 shares during the last quarter. Allegis Investment Advisors LLC boosted its position in Cognizant Technology Solutions Corp. by 17.1% in the first quarter. Allegis Investment Advisors LLC now owns 21,990 shares of the information technology service provider’s stock valued at $1,379,000 after buying an additional 3,206 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware boosted its position in Cognizant Technology Solutions Corp. by 7.7% in the first quarter. Mckinley Capital Management LLC Delaware now owns 303,963 shares of the information technology service provider’s stock valued at $19,058,000 after buying an additional 21,731 shares during the last quarter. Hedge funds and other institutional investors own 87.00% of the company’s stock.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 50.35 on Tuesday. The firm has a market capitalization of $30.56 billion, a PE ratio of 20.30 and a beta of 1.43. The stock’s 50 day moving average price is $54.97 and its 200 day moving average price is $58.47. Cognizant Technology Solutions Corp. has a 52-week low of $45.44 and a 52-week high of $69.80.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last posted its quarterly earnings data on Friday, August 5th. The information technology service provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.05. Cognizant Technology Solutions Corp. had a return on equity of 19.31% and a net margin of 11.65%. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same quarter last year, the firm earned $0.79 earnings per share. The business’s revenue was up 9.2% on a year-over-year basis. Analysts expect that Cognizant Technology Solutions Corp. will post $3.38 earnings per share for the current year.

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