Goldman Sachs Group Inc. lowered shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) from a buy rating to a neutral rating in a research note released on Thursday. Goldman Sachs Group Inc. currently has $61.00 price target on the information technology service provider’s stock, down from their prior price target of $68.00.

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

Several other equities research analysts have also recently weighed in on CTSH. Barclays PLC restated a buy rating on shares of Cognizant Technology Solutions Corp. in a research report on Saturday, July 9th. Needham & Company LLC reduced their price target on shares of 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. Oppenheimer Holdings Inc. restated an outperform rating and issued a $68.00 price target on shares of Cognizant Technology Solutions Corp. in a research report on Friday, July 1st. Cantor Fitzgerald set a $68.00 price target on shares of Cognizant Technology Solutions Corp. and gave the stock a buy rating in a research report on Friday, August 5th. Finally, Citigroup Inc. reduced their price target on shares of Cognizant Technology Solutions Corp. from $71.00 to $68.00 and set a buy rating on the stock in a research report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock 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 firm has a market capitalization of $32.37 billion, a PE ratio of 21.50 and a beta of 1.28. The stock’s 50 day moving average price is $57.17 and its 200 day moving average price is $59.01. Cognizant Technology Solutions Corp. has a 12 month low of $51.22 and a 12 month high of $69.80.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last announced its quarterly earnings results on Friday, August 5th. The information technology service provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.05. Cognizant Technology Solutions Corp. had a net margin of 11.65% and a return on equity of 19.31%. The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.37 billion. During the same quarter in the previous year, the business posted $0.79 earnings per share. Cognizant Technology Solutions Corp.’s quarterly revenue was up 9.2% on a year-over-year basis. Equities research analysts expect that Cognizant Technology Solutions Corp. will post $3.37 earnings per share for the current fiscal year.

In related news, CFO Karen Mcloughlin sold 20,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 60,741 shares of the company’s stock, valued at approximately $3,644,460. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Francisco Dsouza sold 100,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $58.57, for a total transaction of $5,857,000.00. Following the completion of the transaction, the chief executive officer now directly owns 422,602 shares of the company’s stock, valued at $24,751,799.14. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Albion Financial Group UT raised its position in shares of Cognizant Technology Solutions Corp. by 0.4% in the second quarter. Albion Financial Group UT now owns 6,830 shares of the information technology service provider’s stock valued at $391,000 after buying an additional 25 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Cognizant Technology Solutions Corp. by 0.3% in the second quarter. LS Investment Advisors LLC now owns 13,412 shares of the information technology service provider’s stock valued at $768,000 after buying an additional 46 shares during the last quarter. Commerce Bank raised its position in shares of Cognizant Technology Solutions Corp. by 1.5% in the second quarter. Commerce Bank now owns 3,971 shares of the information technology service provider’s stock valued at $227,000 after buying an additional 57 shares during the last quarter. Wedbush Securities Inc. raised its position in shares of Cognizant Technology Solutions Corp. by 0.4% in the second quarter. Wedbush Securities Inc. now owns 18,283 shares of the information technology service provider’s stock valued at $1,047,000 after buying an additional 75 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Cognizant Technology Solutions Corp. by 1.2% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 6,804 shares of the information technology service provider’s stock valued at $390,000 after buying an additional 80 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.

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

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