Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective raised by Bank of America from $86.00 to $89.00 in a research report issued on Thursday. The firm presently has a “buy” rating on the information technology service provider’s stock. Bank of America’s target price points to a potential upside of 14.29% from the stock’s previous close.

Several other research firms have also weighed in on CTSH. Nomura lifted their target price on shares of Cognizant Technology Solutions from $71.00 to $79.00 and gave the company a “neutral” rating in a report on Thursday. BidaskClub raised shares of Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a report on Friday, January 19th. SunTrust Banks reaffirmed a “buy” rating and set a $90.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday. Pivotal Research reaffirmed a “buy” rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday. Finally, Needham & Company LLC lifted their target price on shares of Cognizant Technology Solutions from $90.00 to $100.00 and gave the company a “strong-buy” rating in a report on Thursday. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $83.54.

Cognizant Technology Solutions (NASDAQ CTSH) traded up $1.35 during trading hours on Thursday, hitting $77.87. 973,279 shares of the stock traded hands, compared to its average volume of 3,647,816. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.29 and a current ratio of 3.29. The stock has a market cap of $43,574.77, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 1.49 and a beta of 1.11. Cognizant Technology Solutions has a 52-week low of $56.29 and a 52-week high of $79.28.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.15. The firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.82 billion. Cognizant Technology Solutions had a net margin of 13.42% and a return on equity of 18.94%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 EPS. equities research analysts forecast that Cognizant Technology Solutions will post 3.35 EPS for the current year.

In other news, CEO Francisco Dsouza sold 482,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $72.04, for a total transaction of $34,723,280.00. Following the transaction, the chief executive officer now owns 621,643 shares of the company’s stock, valued at approximately $44,783,161.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Matthew W. Friedrich sold 2,711 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $74.30, for a total transaction of $201,427.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 961,064 shares of company stock worth $70,504,403. 1.08% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in CTSH. Macquarie Group Ltd. boosted its position in shares of Cognizant Technology Solutions by 14.3% during the 2nd quarter. Macquarie Group Ltd. now owns 169,781 shares of the information technology service provider’s stock valued at $11,273,000 after acquiring an additional 21,259 shares during the last quarter. Gotham Asset Management LLC boosted its position in shares of Cognizant Technology Solutions by 4.3% during the 2nd quarter. Gotham Asset Management LLC now owns 6,565 shares of the information technology service provider’s stock valued at $436,000 after acquiring an additional 269 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Cognizant Technology Solutions by 55.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 56,011 shares of the information technology service provider’s stock valued at $3,719,000 after acquiring an additional 20,064 shares during the last quarter. Scotia Capital Inc. boosted its position in shares of Cognizant Technology Solutions by 1,052.7% during the 2nd quarter. Scotia Capital Inc. now owns 42,304 shares of the information technology service provider’s stock valued at $2,809,000 after acquiring an additional 38,634 shares during the last quarter. Finally, Seminole Management Co. Inc. acquired a new position in shares of Cognizant Technology Solutions during the 2nd quarter valued at about $4,841,000. 86.95% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This report was originally posted by Daily Political and is the property of of Daily Political. If you are accessing this report on another publication, it was stolen and republished in violation of US & international copyright laws. The legal version of this report can be read at https://www.dailypolitical.com/2018/02/08/bank-of-america-boosts-cognizant-technology-solutions-ctsh-price-target-to-89-00.html.

Cognizant Technology Solutions Company Profile

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 (NASDAQ:CTSH)

Receive News & Ratings for Cognizant Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cognizant Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.