Cognizant Technology Solutions Corp (NASDAQ:CTSH) has earned a consensus recommendation of “Buy” from the twenty-one ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $80.67.
Several brokerages have commented on CTSH. Zacks Investment Research downgraded Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research note on Thursday, March 14th. BidaskClub downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Saturday, February 23rd. BMO Capital Markets boosted their target price on Cognizant Technology Solutions to $80.00 and gave the stock a “market perform” rating in a research note on Monday, February 4th. Daiwa Capital Markets began coverage on Cognizant Technology Solutions in a research note on Wednesday, February 13th. They set a “buy” rating and a $90.00 target price for the company. Finally, Credit Suisse Group set a $85.00 target price on Cognizant Technology Solutions and gave the stock a “buy” rating in a research note on Monday, December 17th.
NASDAQ CTSH traded down $0.02 during trading on Wednesday, hitting $74.27. 83,248 shares of the company’s stock were exchanged, compared to its average volume of 2,748,706. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.06. The company has a market cap of $42.72 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 1.65 and a beta of 0.97. Cognizant Technology Solutions has a fifty-two week low of $59.47 and a fifty-two week high of $83.35.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, February 6th. The information technology service provider reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.07. The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.11 billion. Cognizant Technology Solutions had a return on equity of 22.15% and a net margin of 13.03%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share. On average, sell-side analysts predict that Cognizant Technology Solutions will post 4.44 earnings per share for the current year.
In other news, VP Malcolm Frank sold 437 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $71.81, for a total value of $31,380.97. Following the completion of the transaction, the vice president now owns 27,009 shares of the company’s stock, valued at $1,939,516.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Allen Shaheen sold 396 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $73.80, for a total transaction of $29,224.80. The disclosure for this sale can be found here. Insiders sold 49,830 shares of company stock valued at $3,588,232 in the last ninety days. 0.60% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Acima Private Wealth LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter valued at approximately $29,000. Sontag Advisory LLC acquired a new stake in Cognizant Technology Solutions during the 4th quarter valued at approximately $30,000. Somerset Trust Co increased its position in Cognizant Technology Solutions by 152.0% during the 1st quarter. Somerset Trust Co now owns 494 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 298 shares during the period. Citizens Financial Group Inc RI increased its position in Cognizant Technology Solutions by 176.5% during the 4th quarter. Citizens Financial Group Inc RI now owns 611 shares of the information technology service provider’s stock valued at $39,000 after purchasing an additional 390 shares during the period. Finally, Kistler Tiffany Companies LLC increased its position in Cognizant Technology Solutions by 133.5% during the 4th quarter. Kistler Tiffany Companies LLC now owns 642 shares of the information technology service provider’s stock valued at $41,000 after purchasing an additional 367 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.
About Cognizant Technology Solutions
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.
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