KeyCorp reiterated their buy rating on shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in a report released on Thursday morning. KeyCorp currently has a $79.00 price target on the information technology service provider’s stock.

CTSH has been the subject of several other research reports. Bank of America Corporation restated a buy rating and set a $86.00 price target on shares of Cognizant Technology Solutions Corporation in a research report on Tuesday, September 12th. Credit Suisse Group set a $80.00 price target on shares of Cognizant Technology Solutions Corporation and gave the company a buy rating in a research report on Friday, August 4th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Cognizant Technology Solutions Corporation from a hold rating to a buy rating and set a $82.00 price target for the company in a research report on Tuesday, October 10th. Wedbush restated an outperform rating on shares of Cognizant Technology Solutions Corporation in a research report on Monday, September 18th. Finally, BMO Capital Markets restated a buy rating and set a $76.00 price target (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, August 4th. Four research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Cognizant Technology Solutions Corporation presently has a consensus rating of Buy and an average price target of $73.66.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 74.38 on Thursday. The stock’s 50 day moving average is $72.09 and its 200-day moving average is $67.25. The firm has a market cap of $43.93 billion, a PE ratio of 23.86 and a beta of 1.12. Cognizant Technology Solutions Corporation has a 1-year low of $49.35 and a 1-year high of $74.77.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last posted its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during 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. Analysts expect that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.

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In other Cognizant Technology Solutions Corporation news, insider Debashis Chatterjee sold 3,452 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $69.50, for a total transaction of $239,914.00. Following the transaction, the insider now directly owns 42,628 shares in the company, valued at $2,962,646. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Rajeev Mehta sold 32,000 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $71.02, for a total transaction of $2,272,640.00. Following the transaction, the president now owns 187,965 shares in the company, valued at $13,349,274.30. The disclosure for this sale can be found here. Insiders sold 289,546 shares of company stock worth $20,683,257 over the last ninety days. 1.08% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Pathstone Family Office LLC grew its position in Cognizant Technology Solutions Corporation by 1,208.8% during the second quarter. Pathstone Family Office LLC now owns 1,479 shares of the information technology service provider’s stock valued at $2,485,000 after acquiring an additional 1,366 shares during the last quarter. Acrospire Investment Management LLC grew its position in Cognizant Technology Solutions Corporation by 92.6% during the second quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock valued at $110,000 after acquiring an additional 800 shares during the last quarter. WFG Advisors LP grew its position in Cognizant Technology Solutions Corporation by 46.4% during the second quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock valued at $130,000 after acquiring an additional 621 shares during the last quarter. Krilogy Financial LLC bought a new position in Cognizant Technology Solutions Corporation during the second quarter valued at approximately $137,000. Finally, Guardian Life Insurance Co. of America grew its position in Cognizant Technology Solutions Corporation by 1.2% during the first quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock valued at $140,000 after acquiring an additional 27 shares during the last quarter. Institutional investors and hedge funds own 87.56% of the company’s stock.

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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