Cognizant Technology Solutions (NASDAQ:CTSH) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) from a buy rating to a strong-buy rating in a report released on Tuesday morning.

Several other research analysts have also recently weighed in on CTSH. Barclays lifted their price target on Cognizant Technology Solutions from $78.00 to $85.00 and gave the company an underweight rating in a research report on Monday, February 7th. UBS Group upgraded Cognizant Technology Solutions from a sell rating to a neutral rating and lifted their price target for the company from $58.50 to $89.00 in a research report on Thursday, January 20th. Cowen lifted their price target on Cognizant Technology Solutions from $93.00 to $98.00 in a research report on Thursday, February 3rd. Citigroup cut Cognizant Technology Solutions from a buy rating to a neutral rating and lifted their price target for the company from $93.00 to $95.00 in a research report on Friday, January 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Cognizant Technology Solutions from $81.00 to $92.00 and gave the company a hold rating in a research report on Monday, January 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus target price of $92.13.

Shares of NASDAQ:CTSH opened at $81.55 on Tuesday. Cognizant Technology Solutions has a 52-week low of $66.19 and a 52-week high of $93.47. The stock has a market cap of $42.78 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.48 and a beta of 1.10. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $87.48 and a 200-day moving average price of $85.02.

Cognizant Technology Solutions (NASDAQ:CTSHGet Rating) last announced its quarterly earnings results on Wednesday, February 2nd. The information technology service provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.06. The company had revenue of $4.78 billion during the quarter, compared to analysts’ expectations of $4.78 billion. Cognizant Technology Solutions had a return on equity of 19.00% and a net margin of 11.55%. Cognizant Technology Solutions’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period last year, the business earned $0.67 earnings per share. As a group, equities analysts anticipate that Cognizant Technology Solutions will post 4.57 EPS for the current fiscal year.

In other Cognizant Technology Solutions news, insider Rajesh Nambiar sold 5,000 shares of the business’s stock in a transaction on Friday, February 11th. The stock was sold at an average price of $90.50, for a total transaction of $452,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Leo S. Jr. Mackay sold 4,778 shares of the business’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $88.52, for a total value of $422,948.56. The disclosure for this sale can be found here. Insiders sold 16,149 shares of company stock worth $1,434,568 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTSH. Pendal Group Ltd boosted its stake in Cognizant Technology Solutions by 17.3% during the third quarter. Pendal Group Ltd now owns 8,979 shares of the information technology service provider’s stock worth $666,000 after buying an additional 1,325 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Cognizant Technology Solutions by 5.7% in the third quarter. PNC Financial Services Group Inc. now owns 171,597 shares of the information technology service provider’s stock valued at $12,736,000 after purchasing an additional 9,262 shares during the period. Advisor Group Holdings Inc. raised its position in Cognizant Technology Solutions by 18.2% in the third quarter. Advisor Group Holdings Inc. now owns 66,784 shares of the information technology service provider’s stock valued at $4,963,000 after purchasing an additional 10,300 shares during the period. Daiwa Securities Group Inc. raised its position in Cognizant Technology Solutions by 10.0% in the third quarter. Daiwa Securities Group Inc. now owns 43,723 shares of the information technology service provider’s stock valued at $3,245,000 after purchasing an additional 3,992 shares during the period. Finally, Calton & Associates Inc. purchased a new stake in Cognizant Technology Solutions in the third quarter valued at $211,000. 90.73% of the stock is currently owned by institutional investors.

Cognizant Technology Solutions Company Profile (Get Rating)

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.

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Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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