Needham & Company LLC upgraded shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) from a buy rating to a strong-buy rating in a report published on Wednesday. Needham & Company LLC currently has $90.00 price target on the information technology service provider’s stock, up from their previous price target of $78.00.

Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded Cognizant Technology Solutions Corporation from a hold rating to a buy rating and set a $82.00 price objective on the stock in a research report on Tuesday, October 10th. Robert W. Baird raised their price target on Cognizant Technology Solutions Corporation from $80.00 to $90.00 and gave the stock an outperform rating in a research report on Thursday, October 19th. Bank of America Corporation reiterated a buy rating and issued a $86.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Tuesday, September 12th. KeyCorp reiterated a buy rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Friday, September 8th. Finally, Cowen and Company reiterated a buy rating and issued a $75.00 price objective on shares of Cognizant Technology Solutions Corporation in a research report on Friday, July 28th. Four equities research 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 stock currently has an average rating of Buy and a consensus target price of $80.11.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.13. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the firm posted $0.86 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis.

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The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 20th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Friday, November 17th. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is 19.17%.

In related news, insider Sumithra Gomatam sold 3,163 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $76.00, for a total value of $240,388.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Rajeev Mehta sold 32,000 shares of Cognizant Technology Solutions Corporation 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 completion of the sale, the president now owns 187,965 shares of the company’s stock, valued at approximately $13,349,274.30. The disclosure for this sale can be found here. Insiders sold a total of 284,258 shares of company stock worth $20,336,301 over the last three months. Corporate insiders own 1.08% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Pathstone Family Office LLC grew its stake in shares of Cognizant Technology Solutions Corporation by 1,208.8% in the second quarter. Pathstone Family Office LLC now owns 1,479 shares of the information technology service provider’s stock worth $2,485,000 after acquiring an additional 1,366 shares in the last quarter. Acrospire Investment Management LLC grew its stake in shares of 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 worth $110,000 after purchasing an additional 800 shares in the last quarter. WFG Advisors LP grew its stake in shares of 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 worth $130,000 after purchasing an additional 621 shares in the last quarter. Krilogy Financial LLC acquired a new position in shares of Cognizant Technology Solutions Corporation during the second quarter worth $137,000. Finally, Guardian Life Insurance Co. of America grew its stake in shares of 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 worth $140,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 87.35% 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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