Cognizant Technology Solutions Corp (CTSH) Given Consensus Rating of “Buy” by Brokerages

Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) have earned an average recommendation of “Buy” from the thirty-one brokerages that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation, twenty-two have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $84.12.

Several research firms have commented on CTSH. Loop Capital boosted their price target on shares of Cognizant Technology Solutions to $90.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. BidaskClub upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research note on Tuesday, February 13th. Sanford C. Bernstein began coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, March 28th. They issued a “market perform” rating and a $57.50 price target for the company. Zacks Investment Research downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, January 12th. Finally, Argus upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and boosted their price target for the stock from $81.80 to $100.00 in a research note on Thursday, February 22nd.

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In other news, VP Malcolm Frank sold 1,091 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $82.11, for a total transaction of $89,582.01. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gajakarnan Vibushanan Kandiah sold 1,519 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $84.62, for a total transaction of $128,537.78. Following the transaction, the insider now owns 10,584 shares in the company, valued at $895,618.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,945 shares of company stock worth $17,478,597. 1.08% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Cognizant Technology Solutions by 3.1% during the fourth quarter. BlackRock Inc. now owns 36,121,482 shares of the information technology service provider’s stock worth $2,565,349,000 after acquiring an additional 1,088,469 shares during the period. Comgest Global Investors S.A.S. grew its position in Cognizant Technology Solutions by 18.3% during the fourth quarter. Comgest Global Investors S.A.S. now owns 8,774,817 shares of the information technology service provider’s stock worth $623,188,000 after buying an additional 1,358,200 shares during the period. Pzena Investment Management LLC grew its position in Cognizant Technology Solutions by 2.8% during the fourth quarter. Pzena Investment Management LLC now owns 7,119,634 shares of the information technology service provider’s stock worth $505,636,000 after buying an additional 194,583 shares during the period. Alliancebernstein L.P. grew its position in Cognizant Technology Solutions by 30.1% during the fourth quarter. Alliancebernstein L.P. now owns 6,309,025 shares of the information technology service provider’s stock worth $448,067,000 after buying an additional 1,458,220 shares during the period. Finally, Geode Capital Management LLC grew its position in Cognizant Technology Solutions by 3.6% during the fourth quarter. Geode Capital Management LLC now owns 6,005,499 shares of the information technology service provider’s stock worth $425,587,000 after buying an additional 209,232 shares during the period. Institutional investors and hedge funds own 88.47% of the company’s stock.

Cognizant Technology Solutions stock traded down $0.03 during trading on Wednesday, hitting $80.77. The company had a trading volume of 1,041,300 shares, compared to its average volume of 3,585,669. Cognizant Technology Solutions has a 1-year low of $58.97 and a 1-year high of $85.10. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.21 and a current ratio of 3.21. The company has a market capitalization of $47,967.32, a PE ratio of 22.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.15. Cognizant Technology Solutions had a net margin of 10.15% and a return on equity of 19.94%. The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter last year, the firm earned $0.87 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. equities research analysts forecast that Cognizant Technology Solutions will post 4.21 earnings per share for the current year.

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About Cognizant Technology Solutions

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.

Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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