Cognizant Technology Solutions Corp. (NASDAQ:CTSH) shares traded down 2.7% during mid-day trading on Friday . The company traded as low as $56.52 and last traded at $57.34, with a volume of 3,756,292 shares trading hands. The stock had previously closed at $58.94.

Several research firms have recently weighed in on CTSH. Pacific Crest began coverage on Cognizant Technology Solutions Corp. in a report on Tuesday. They set an “overweight” rating and a $69.00 price target on the stock. SunTrust Banks Inc. cut Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $70.00 to $65.00 in a report on Tuesday. Barclays PLC restated a “buy” rating on shares of Cognizant Technology Solutions Corp. in a report on Saturday, July 9th. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $68.00 price target on shares of Cognizant Technology Solutions Corp. in a report on Friday, July 1st. Finally, Cantor Fitzgerald restated a “buy” rating and set a $68.00 price target on shares of Cognizant Technology Solutions Corp. in a report on Wednesday, June 29th. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Cognizant Technology Solutions Corp. presently has an average rating of “Buy” and a consensus target price of $69.29.

The company has a market capitalization of $34.99 billion and a price-to-earnings ratio of 21.00. The stock has a 50 day moving average of $59.49 and a 200 day moving average of $59.25.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last posted its quarterly earnings data on Friday, May 6th. The information technology service provider reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.01. During the same quarter in the previous year, the firm posted $0.71 earnings per share. The firm earned $3.20 billion during the quarter, compared to analyst estimates of $3.22 billion. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts forecast that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current fiscal year.

In other news, Director John Nelson Fox, Jr. sold 12,345 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The stock was sold at an average price of $61.50, for a total transaction of $759,217.50. Following the transaction, the director now directly owns 20,743 shares in the company, valued at approximately $1,275,694.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman John E. Klein sold 61,229 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $61.30, for a total value of $3,753,337.70. Following the transaction, the chairman now owns 433,775 shares in the company, valued at $26,590,407.50. The disclosure for this sale can be found here.

Other hedge funds and institutional investors recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of Cognizant Technology Solutions Corp. by 11.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 16,731 shares of the information technology service provider’s stock valued at $1,004,000 after buying an additional 1,767 shares in the last quarter. Spectrum Management Group Inc. bought a new position in shares of Cognizant Technology Solutions Corp. during the fourth quarter valued at $1,099,000. Affinity Investment Advisors LLC boosted its position in shares of Cognizant Technology Solutions Corp. by 0.6% in the fourth quarter. Affinity Investment Advisors LLC now owns 19,158 shares of the information technology service provider’s stock valued at $1,150,000 after buying an additional 110 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Cognizant Technology Solutions Corp. by 0.6% in the fourth quarter. Ameritas Investment Partners Inc. now owns 21,661 shares of the information technology service provider’s stock valued at $1,300,000 after buying an additional 126 shares in the last quarter. Finally, Sandy Spring Bank boosted its position in shares of Cognizant Technology Solutions Corp. by 32.3% in the fourth quarter. Sandy Spring Bank now owns 23,386 shares of the information technology service provider’s stock valued at $1,404,000 after buying an additional 5,708 shares in the last quarter.

Cognizant Technology Solutions Corporation is a provider of information technology (IT), consulting and business process services. The Company operates in four segments: Financial Services segment, which include banking and insurance; Healthcare segment, which includes healthcare and life sciences, and Manufacturing/Retail/Logistics segment, which includes manufacturing and logistics; retail, travel and hospitality, and consumer goods and Other segment, which includes Communications, Manufacturing/Retail/Logistics, and High Technology.

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