BMO Capital Markets reissued their buy rating on shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in a report issued on Friday.

Other research analysts have also recently issued research reports about the stock. Credit Suisse Group set a $70.00 price objective on shares of Cognizant Technology Solutions Corporation and gave the company a buy rating in a research report on Saturday, May 6th. Needham & Company LLC reiterated a buy rating and set a $70.00 price objective (up previously from $65.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, May 5th. Cantor Fitzgerald reiterated a buy rating and set a $67.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Friday, May 5th. Vetr cut shares of Cognizant Technology Solutions Corporation from a strong-buy rating to a buy rating and set a $67.50 price objective on the stock. in a research report on Monday, May 1st. Finally, Deutsche Bank AG reiterated a buy rating and set a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Wednesday, May 31st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Cognizant Technology Solutions Corporation presently has a consensus rating of Buy and a consensus price target of $66.50.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded down 2.23% during midday trading on Friday, reaching $69.59. 4,170,136 shares of the company’s stock traded hands. The company has a market capitalization of $40.99 billion, a price-to-earnings ratio of 25.31 and a beta of 1.17. Cognizant Technology Solutions Corporation has a one year low of $45.44 and a one year high of $71.17. The company has a 50-day moving average of $67.94 and a 200-day moving average of $62.02.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a net margin of 13.36% and a return on equity of 18.72%. The business had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the previous year, the business posted $0.87 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts anticipate that Cognizant Technology Solutions Corporation will post $3.68 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.60 annualized dividend and a yield of 0.86%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is presently 19.17%.

In related news, COO Srinivasan Veeraraghavachary sold 3,069 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $65.00, for a total value of $199,485.00. Following the transaction, the chief operating officer now owns 24,737 shares in the company, valued at approximately $1,607,905. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Venkat Krishnaswamy sold 6,438 shares of the stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $64.15, for a total transaction of $412,997.70. Following the completion of the transaction, the insider now owns 22,363 shares in the company, valued at approximately $1,434,586.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,783 shares of company stock worth $3,472,615. 1.08% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of CTSH. BlackRock Inc. boosted its stake in shares of Cognizant Technology Solutions Corporation by 3,470.1% in the first quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock worth $2,425,316,000 after buying an additional 39,606,526 shares during the last quarter. Comgest Global Investors S.A.S. purchased a new stake in shares of Cognizant Technology Solutions Corporation during the first quarter worth approximately $224,748,000. Thrivent Financial For Lutherans boosted its stake in shares of Cognizant Technology Solutions Corporation by 11,666.2% in the first quarter. Thrivent Financial For Lutherans now owns 2,468,550 shares of the information technology service provider’s stock worth $146,928,000 after buying an additional 2,447,570 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Cognizant Technology Solutions Corporation by 112.5% in the first quarter. Alliancebernstein L.P. now owns 4,487,749 shares of the information technology service provider’s stock worth $267,111,000 after buying an additional 2,375,626 shares during the last quarter. Finally, SRS Investment Management LLC purchased a new stake in shares of Cognizant Technology Solutions Corporation during the first quarter worth approximately $134,797,000. 89.21% of the stock is currently owned by institutional investors and hedge funds.

About Cognizant Technology Solutions Corporation

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

Analyst Recommendations for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

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