Cognizant Technology Solutions Corp. (NASDAQ:CTSH) shares dropped 2.7% on Friday . The stock 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 equities research analysts have recently commented on the company. Zacks Investment Research downgraded Cognizant Technology Solutions Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, April 6th. Jefferies Group reaffirmed a “buy” rating and set a $70.00 target price on shares of Cognizant Technology Solutions Corp. in a report on Monday, June 20th. SunTrust Banks Inc. downgraded Cognizant Technology Solutions Corp. from a “buy” rating to a “neutral” rating and reduced their target price for the company from $70.00 to $65.00 in a report on Tuesday, July 12th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $68.00 target price on shares of Cognizant Technology Solutions Corp. in a report on Wednesday, June 29th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $70.00 target price on shares of Cognizant Technology Solutions Corp. in a report on Wednesday, June 8th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $69.29.

The company has a market cap of $34.99 billion and a price-to-earnings ratio of 21.00. The company’s 50-day moving average price is $59.36 and its 200 day moving average price is $59.23.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last posted its earnings results on Friday, May 6th. The information technology service provider reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.01. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.22 billion. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 earnings per share. On average, equities research analysts expect that Cognizant Technology Solutions Corp. will post $3.37 earnings per share for the current year.

In other news, Vice Chairman Chandrasekaran Ramakrishnan sold 15,922 shares of the business’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $63.00, for a total value of $1,003,086.00. Following the sale, the insider now directly owns 364,972 shares in the company, valued at $22,993,236. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Steven Schwartz sold 6,846 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $60.00, for a total value of $410,760.00. Following the completion of the sale, the chief accounting officer now owns 7,875 shares in the company, valued at $472,500. The disclosure for this sale can be found here.

Other hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Cognizant Technology Solutions Corp. by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 35,987,955 shares of the information technology service provider’s stock worth $2,159,997,000 after buying an additional 632,154 shares during the period. Wells Fargo & Company MN raised its stake in shares of Cognizant Technology Solutions Corp. by 30.5% in the fourth quarter. Wells Fargo & Company MN now owns 5,037,226 shares of the information technology service provider’s stock worth $302,336,000 after buying an additional 1,177,259 shares during the period. Schroder Investment Management Group raised its stake in shares of Cognizant Technology Solutions Corp. by 16.5% in the fourth quarter. Schroder Investment Management Group now owns 4,471,769 shares of the information technology service provider’s stock worth $268,395,000 after buying an additional 634,042 shares during the period. Morgan Stanley raised its stake in shares of Cognizant Technology Solutions Corp. by 39.1% in the fourth quarter. Morgan Stanley now owns 4,088,507 shares of the information technology service provider’s stock worth $245,391,000 after buying an additional 1,149,906 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Cognizant Technology Solutions Corp. by 4.9% in the fourth quarter. Victory Capital Management Inc. now owns 2,315,699 shares of the information technology service provider’s stock worth $138,988,000 after buying an additional 108,922 shares during the period.

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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