Vetr downgraded shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) from a strong-buy rating to a buy rating in a research report report published on Monday morning. The brokerage currently has $61.22 price target on the information technology service provider’s stock.

Several other research analysts have also issued reports on CTSH. Needham & Company LLC reduced their price target on Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a buy rating on the stock in a research report on Monday, August 8th. Deutsche Bank AG reiterated a buy rating and set a $69.00 target price on shares of Cognizant Technology Solutions Corp. in a report on Friday, October 21st. Cantor Fitzgerald set a $68.00 target price on Cognizant Technology Solutions Corp. and gave the stock a buy rating in a report on Friday, August 5th. Goldman Sachs Group Inc. lowered Cognizant Technology Solutions Corp. from a buy rating to a neutral rating and reduced their target price for the stock from $68.00 to $61.00 in a report on Thursday, September 15th. Finally, Zacks Investment Research upgraded Cognizant Technology Solutions Corp. from a sell rating to a hold rating in a report on Friday, November 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $64.97.

Analyst Recommendations for Cognizant Technology Solutions Corp. (NASDAQ:CTSH)

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 56.95 on Monday. The firm has a market cap of $34.55 billion, a price-to-earnings ratio of 22.25 and a beta of 1.34. The stock’s 50 day moving average price is $52.33 and its 200-day moving average price is $56.43. Cognizant Technology Solutions Corp. has a one year low of $45.44 and a one year high of $65.43.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last posted its quarterly earnings results on Monday, November 7th. The information technology service provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. Cognizant Technology Solutions Corp. had a return on equity of 19.42% and a net margin of 11.78%. The business had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.46 billion. During the same period last year, the company earned $0.76 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. Analysts forecast that Cognizant Technology Solutions Corp. will post $3.37 earnings per share for the current year.

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In related news, VP Malcolm Frank sold 1,248 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $58.50, for a total value of $73,008.00. Following the completion of the sale, the vice president now directly owns 3,945 shares in the company, valued at $230,782.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Karen Mcloughlin sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $51.27, for a total value of $512,700.00. Following the completion of the sale, the chief financial officer now owns 52,614 shares of the company’s stock, valued at $2,697,519.78. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the stock. Auxier Asset Management bought a new stake in shares of Cognizant Technology Solutions Corp. during the third quarter valued at about $618,000. D.A. Davidson & CO. boosted its stake in Cognizant Technology Solutions Corp. by 10.5% in the third quarter. D.A. Davidson & CO. now owns 104,899 shares of the information technology service provider’s stock valued at $5,003,000 after buying an additional 9,971 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Cognizant Technology Solutions Corp. during the third quarter valued at $5,930,000. Quantitative Systematic Strategies LLC acquired a new stake in Cognizant Technology Solutions Corp. during the third quarter valued at $272,000. Finally, Sawtooth Solutions LLC boosted its stake in Cognizant Technology Solutions Corp. by 19.8% in the third quarter. Sawtooth Solutions LLC now owns 7,407 shares of the information technology service provider’s stock valued at $353,000 after buying an additional 1,222 shares during the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

Cognizant Technology Solutions Corp. Company Profile

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.

5 Day Chart for NASDAQ:CTSH

To view Vetr’s full report, visit Vetr’s official website.

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