Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective hoisted by stock analysts at Loop Capital to $90.00 in a research report issued on Thursday, February 8th. The firm currently has a “buy” rating on the information technology service provider’s stock. Loop Capital’s price objective indicates a potential upside of 11.18% from the company’s current price.
A number of other research analysts have also recently commented on the company. BidaskClub cut Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Zacks Investment Research lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Friday, January 12th. Barclays boosted their price target on Cognizant Technology Solutions from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, October 30th. They noted that the move was a valuation call. Robert W. Baird upped their target price on Cognizant Technology Solutions from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, October 19th. Finally, Pivotal Research began coverage on Cognizant Technology Solutions in a report on Wednesday, November 8th. They set a “buy” rating and a $93.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. Cognizant Technology Solutions has an average rating of “Buy” and an average target price of $84.32.
Cognizant Technology Solutions (NASDAQ:CTSH) traded down $0.42 during trading hours on Thursday, hitting $80.95. The company had a trading volume of 4,510,490 shares, compared to its average volume of 4,120,000. The company has a quick ratio of 3.29, a current ratio of 3.21 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions has a 12 month low of $57.00 and a 12 month high of $81.87. The stock has a market capitalization of $47,730.00, a P/E ratio of 32.12, a P/E/G ratio of 1.52 and a beta of 1.11.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.15. The company had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.82 billion. Cognizant Technology Solutions had a return on equity of 19.94% and a net margin of 10.15%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 earnings per share. equities research analysts predict that Cognizant Technology Solutions will post 4.21 earnings per share for the current year.
In related news, COO Srinivasan Veeraraghavachary sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $76.76, for a total value of $383,800.00. Following the transaction, the chief operating officer now directly owns 24,072 shares of the company’s stock, valued at approximately $1,847,766.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Rajeev Mehta sold 108,217 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $77.32, for a total transaction of $8,367,338.44. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,296 shares of company stock worth $82,190,888 over the last 90 days. Insiders own 1.08% of the company’s stock.
A number of institutional investors have recently modified their holdings of CTSH. Shine Investment Advisory Services Inc. lifted its stake in Cognizant Technology Solutions by 108.8% in the 4th quarter. Shine Investment Advisory Services Inc. now owns 1,512 shares of the information technology service provider’s stock worth $107,000 after purchasing an additional 788 shares in the last quarter. Vestpro Financial Partners Inc. dba CPF Texas purchased a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $107,000. Clearbridge Investments LLC lifted its stake in Cognizant Technology Solutions by 101.2% in the 4th quarter. Clearbridge Investments LLC now owns 1,616 shares of the information technology service provider’s stock worth $115,000 after purchasing an additional 813 shares in the last quarter. Bank of Nova Scotia Trust Co. purchased a new position in Cognizant Technology Solutions in the 3rd quarter worth approximately $121,000. Finally, Cerebellum GP LLC purchased a new position in Cognizant Technology Solutions in the 4th quarter worth approximately $128,000. 86.87% of the stock is currently owned by hedge funds and other institutional investors.
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Cognizant Technology Solutions Company Profile
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.
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