Today: The Cognizant Technology Solutions Corp. (CTSH) Stock Rating Reaffirmed by Morgan Stanley

The Cognizant Technology Solutions Corp. (CTSH) Stock Rating Reaffirmed by Morgan Stanley

Cognizant Technology Solutions Corp. (NASDAQ:CTSH)‘s stock had its “overweight” rating restated by equities researchers at Morgan Stanley in a report issued on Sunday. They presently have a $61.00 price target on the information technology service provider’s stock, down from their prior price target of $66.00. Morgan Stanley’s target price indicates a potential upside of 21.15% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Cognizant Technology Solutions Corp. in a research note on Wednesday, June 29th. Jefferies Group reissued a “buy” rating and set a $70.00 target price on shares of Cognizant Technology Solutions Corp. in a research note on Monday, June 20th. Barclays PLC reissued a “buy” rating on shares of Cognizant Technology Solutions Corp. in a research note on Saturday, July 9th. JPMorgan Chase & Co. reissued a “buy” rating and set a $62.00 target price on shares of Cognizant Technology Solutions Corp. in a research note on Wednesday, August 3rd. Finally, Citigroup Inc. decreased their target price on Cognizant Technology Solutions Corp. from $71.00 to $68.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Cognizant Technology Solutions Corp. currently has a consensus rating of “Buy” and a consensus price target of $65.79.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded down 1.68% during mid-day trading on Friday, hitting $50.35. The stock had a trading volume of 3,834,245 shares. Cognizant Technology Solutions Corp. has a 12 month low of $45.44 and a 12 month high of $69.80. The stock’s 50-day moving average price is $54.97 and its 200-day moving average price is $58.47. The stock has a market cap of $30.56 billion, a price-to-earnings ratio of 20.30 and a beta of 1.43.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last posted its quarterly earnings data on Friday, August 5th. The information technology service provider reported $0.87 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 firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter last year, the company earned $0.79 earnings per share. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, analysts predict that Cognizant Technology Solutions Corp. will post $3.38 earnings per share for the current year.

In related news, VP Malcolm Frank sold 1,248 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was 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 of the company’s stock, valued at approximately $230,782.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Francisco Dsouza sold 300,000 shares of the company’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $58.32, for a total value of $17,496,000.00. Following the transaction, the chief executive officer now directly owns 422,602 shares in the company, valued at $24,646,148.64. The disclosure for this sale can be found here. 0.81% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in CTSH. Vanguard Group Inc. raised its position in shares of Cognizant Technology Solutions Corp. by 1.4% in the second quarter. Vanguard Group Inc. now owns 37,394,147 shares of the information technology service provider’s stock valued at $2,140,441,000 after buying an additional 504,392 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Cognizant Technology Solutions Corp. by 45.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 25,864,040 shares of the information technology service provider’s stock valued at $1,480,458,000 after buying an additional 8,041,798 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Cognizant Technology Solutions Corp. by 21.1% in the second quarter. Artisan Partners Limited Partnership now owns 13,571,012 shares of the information technology service provider’s stock valued at $776,805,000 after buying an additional 2,362,461 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Cognizant Technology Solutions Corp. by 149.0% in the second quarter. Nordea Investment Management AB now owns 8,694,123 shares of the information technology service provider’s stock valued at $497,652,000 after buying an additional 5,203,100 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Cognizant Technology Solutions Corp. by 5.5% in the first quarter. Wellington Management Group LLP now owns 8,331,127 shares of the information technology service provider’s stock valued at $522,361,000 after buying an additional 436,001 shares in the last quarter. 87.00% of the stock is currently owned by institutional investors.

About Cognizant Technology Solutions Corp.

Related posts

Leave a Comment