Wedbush restated their outperform rating on shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in a research report report published on Monday. Wedbush also issued estimates for Cognizant Technology Solutions Corporation’s Q3 2017 earnings at $0.85 EPS, Q4 2017 earnings at $0.89 EPS, FY2017 earnings at $3.33 EPS, Q1 2018 earnings at $0.90 EPS, Q3 2018 earnings at $0.98 EPS and FY2018 earnings at $3.89 EPS.

Several other equities analysts also recently commented on the stock. Deutsche Bank AG reissued a buy rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, May 31st. Societe Generale downgraded shares of Cognizant Technology Solutions Corporation from a buy rating to a hold rating and raised their price target for the company from $68.00 to $74.00 in a research note on Monday, June 5th. Robert W. Baird reaffirmed a buy rating and set a $80.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Sunday, September 10th. BidaskClub upgraded shares of Cognizant Technology Solutions Corporation from a buy rating to a strong-buy rating in a research report on Thursday, June 22nd. Finally, Pacific Crest reiterated an overweight rating and set a $75.00 price objective (up from $73.00) on shares of Cognizant Technology Solutions Corporation in a research report on Thursday, June 1st. Seven research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Cognizant Technology Solutions Corporation has a consensus rating of Buy and a consensus price target of $72.51.

Shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at 71.86 on Monday. The company’s 50-day moving average price is $70.75 and its 200-day moving average price is $65.41. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $73.00. The firm has a market capitalization of $42.44 billion, a P/E ratio of 23.05 and a beta of 1.14.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the business posted $0.87 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts expect that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, August 18th. Cognizant Technology Solutions Corporation’s payout ratio is currently 19.17%.

In other Cognizant Technology Solutions Corporation news, President Rajeev Mehta sold 34,437 shares of Cognizant Technology Solutions Corporation stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $72.54, for a total value of $2,498,059.98. Following the sale, the president now owns 170,063 shares of the company’s stock, valued at $12,336,370.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Chandrasekaran Ramakrishnan sold 25,000 shares of Cognizant Technology Solutions Corporation stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the insider now directly owns 360,856 shares in the company, valued at approximately $25,259,920. The disclosure for this sale can be found here. Insiders have sold 275,756 shares of company stock worth $19,685,771 over the last three months. 1.08% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Comgest Global Investors S.A.S. raised its position in Cognizant Technology Solutions Corporation by 57.7% in the second quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock worth $395,400,000 after acquiring an additional 2,178,800 shares during the period. Atlantic Trust Group LLC raised its position in Cognizant Technology Solutions Corporation by 1.3% in the second quarter. Atlantic Trust Group LLC now owns 637,050 shares of the information technology service provider’s stock worth $42,300,000 after acquiring an additional 8,245 shares during the period. Oak Ridge Investments LLC raised its position in Cognizant Technology Solutions Corporation by 7.1% in the second quarter. Oak Ridge Investments LLC now owns 169,645 shares of the information technology service provider’s stock worth $11,264,000 after acquiring an additional 11,316 shares during the period. Private Advisor Group LLC raised its position in Cognizant Technology Solutions Corporation by 173.9% in the first quarter. Private Advisor Group LLC now owns 30,271 shares of the information technology service provider’s stock worth $1,219,000 after acquiring an additional 19,218 shares during the period. Finally, First Financial Corp IN raised its position in Cognizant Technology Solutions Corporation by 1.4% in the second quarter. First Financial Corp IN now owns 17,816 shares of the information technology service provider’s stock worth $1,183,000 after acquiring an additional 240 shares during the period. 87.59% 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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