Zacks Investment Research upgraded shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) from a sell rating to a hold rating in a research note published on Thursday.

According to Zacks, “Cognizant's business has been affected because of persisting macroeconomic headwinds and sluggish spending levels in its healthcare and financial sector, which are its biggest markets. The company had even lowered its revenue outlook for 2016 given these factors. Intense competition in the IT service industry, rising wages and customer concentration are other challenges. Nonetheless, the company is expected to benefit from strong demand for high quality, lower cost technology services. In addition, it has placed itself well to benefit from the ongoing digitization of businesses. Also, acquisitions will continue to play an important role in boosting revenues. “

A number of other equities analysts also recently commented on CTSH. Barclays PLC restated a buy rating on shares of Cognizant Technology Solutions Corp. in a report on Saturday, July 9th. Needham & Company LLC cut their price objective on Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a buy rating on the stock in a report on Monday, August 8th. Oppenheimer Holdings Inc. restated an outperform rating and issued a $68.00 price objective on shares of Cognizant Technology Solutions Corp. in a report on Friday, July 1st. Goldman Sachs Group Inc. downgraded Cognizant Technology Solutions Corp. from a buy rating to a neutral rating and cut their price objective for the stock from $68.00 to $61.00 in a report on Thursday, September 15th. Finally, Cantor Fitzgerald set a $68.00 price objective on Cognizant Technology Solutions Corp. and gave the stock a buy rating in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Cognizant Technology Solutions Corp. presently has a consensus rating of Buy and an average target price of $66.87.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 53.33 on Thursday. The company has a market capitalization of $32.37 billion, a PE ratio of 21.50 and a beta of 1.28. The company has a 50-day moving average of $57.17 and a 200-day moving average of $59.01. Cognizant Technology Solutions Corp. has a 52 week low of $51.22 and a 52 week high of $69.80.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last released its earnings results on Friday, August 5th. The information technology service provider reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.05. Cognizant Technology Solutions Corp. had a return on equity of 19.31% and a net margin of 11.65%. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.37 billion. During the same period in the prior year, the business posted $0.79 earnings per share. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, equities research analysts anticipate that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current year.

In other Cognizant Technology Solutions Corp. news, CEO Francisco Dsouza sold 300,000 shares of Cognizant Technology Solutions Corp. stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $58.32, for a total transaction of $17,496,000.00. Following the sale, the chief executive officer now owns 422,602 shares of the company’s stock, valued at approximately $24,646,148.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Karen Mcloughlin sold 20,000 shares of Cognizant Technology Solutions Corp. stock in a transaction on Friday, August 5th. The shares were sold at an average price of $60.00, for a total value of $1,200,000.00. Following the sale, the chief financial officer now directly owns 60,741 shares in the company, valued at approximately $3,644,460. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. increased its stake in shares of Cognizant Technology Solutions Corp. by 101.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 183,876 shares of the information technology service provider’s stock valued at $11,036,000 after buying an additional 92,459 shares during the last quarter. Norges Bank acquired a new stake in shares of Cognizant Technology Solutions Corp. during the fourth quarter valued at $276,403,000. Chevy Chase Trust Holdings Inc. increased its stake in shares of Cognizant Technology Solutions Corp. by 2.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 520,601 shares of the information technology service provider’s stock valued at $32,642,000 after buying an additional 13,511 shares during the last quarter. Rathbone Brothers plc increased its stake in shares of Cognizant Technology Solutions Corp. by 1.3% in the first quarter. Rathbone Brothers plc now owns 360,680 shares of the information technology service provider’s stock valued at $22,615,000 after buying an additional 4,670 shares during the last quarter. Finally, DnB Asset Management AS increased its stake in shares of Cognizant Technology Solutions Corp. by 33.3% in the first quarter. DnB Asset Management AS now owns 42,848 shares of the information technology service provider’s stock valued at $2,687,000 after buying an additional 10,700 shares during the last quarter. 86.86% of the stock is currently owned by hedge funds and other institutional investors.

About Cognizant Technology Solutions Corp.

Cognizant Technology Solutions Corporation is a provider of information technology (IT), consulting and business process services. The Company operates through four segments: Financial Services, which includes customers providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers, as well as life sciences customers, including pharmaceutical, biotech and medical device companies; Manufacturing, Retail and Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as customers providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology.

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