Cognizant Technology Solutions (NASDAQ:CTSH) Upgraded at TheStreet

Cognizant Technology Solutions (NASDAQ:CTSH) was upgraded by TheStreet from a “c+” rating to a “b-” rating in a note issued to investors on Tuesday, July 23rd, TheStreetRatingsTable reports.

Several other research analysts have also weighed in on the stock. Wells Fargo & Co set a $63.00 target price on shares of Cognizant Technology Solutions and gave the stock a “hold” rating in a research note on Friday, May 3rd. UBS Group reduced their price target on shares of Cognizant Technology Solutions from $76.00 to $62.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Daiwa Capital Markets cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. William Blair cut shares of Cognizant Technology Solutions from an “outperform” rating to a “market perform” rating in a research report on Friday, May 3rd. Finally, HSBC cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and reduced their price target for the stock from $72.00 to $70.00 in a research report on Tuesday, July 23rd. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $74.48.

NASDAQ:CTSH traded up $0.64 during trading hours on Tuesday, reaching $61.22. 2,222,874 shares of the company were exchanged, compared to its average volume of 4,564,244. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 0.13. The stock’s 50-day moving average is $64.26 and its 200-day moving average is $67.23. The firm has a market cap of $33.79 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.54 and a beta of 1.01. Cognizant Technology Solutions has a twelve month low of $56.73 and a twelve month high of $78.59.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. Cognizant Technology Solutions had a net margin of 12.61% and a return on equity of 20.52%. The business had revenue of $4.14 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the prior year, the firm earned $1.05 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, research analysts anticipate that Cognizant Technology Solutions will post 3.96 EPS for the current year.

In related news, EVP Allen Shaheen sold 1,369 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $60.16, for a total value of $82,359.04. Following the completion of the transaction, the executive vice president now owns 3,073 shares of the company’s stock, valued at approximately $184,871.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Robert Telesmanic sold 2,484 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $65.00, for a total transaction of $161,460.00. Following the completion of the transaction, the senior vice president now directly owns 7,337 shares of the company’s stock, valued at approximately $476,905. The disclosure for this sale can be found here. Insiders have sold a total of 47,120 shares of company stock valued at $2,960,866 in the last ninety days. Corporate insiders own 0.56% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $366,248,000. State of Tennessee Treasury Department grew its stake in shares of Cognizant Technology Solutions by 54.0% in the first quarter. State of Tennessee Treasury Department now owns 231,079 shares of the information technology service provider’s stock worth $16,742,000 after purchasing an additional 81,027 shares in the last quarter. Signition LP bought a new position in shares of Cognizant Technology Solutions in the first quarter worth $593,000. FMR LLC grew its stake in shares of Cognizant Technology Solutions by 21.9% in the first quarter. FMR LLC now owns 15,767,608 shares of the information technology service provider’s stock worth $1,142,362,000 after purchasing an additional 2,827,833 shares in the last quarter. Finally, Exane Derivatives boosted its stake in Cognizant Technology Solutions by 16,331.5% during the first quarter. Exane Derivatives now owns 29,248 shares of the information technology service provider’s stock valued at $2,118,000 after buying an additional 29,070 shares in the last quarter. 88.41% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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