Cowen and Company restated their buy rating on shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in a report issued on Friday morning. They currently have a $75.00 target price on the information technology service provider’s stock.

A number of other research analysts have also recently issued reports on CTSH. SunTrust Banks, Inc. upgraded shares of Cognizant Technology Solutions Corporation from a hold rating to a buy rating and set a $70.00 price objective for the company in a report on Thursday, April 13th. Vetr upgraded shares of Cognizant Technology Solutions Corporation from a buy rating to a strong-buy rating and set a $67.50 price objective for the company in a report on Friday, April 14th. Cantor Fitzgerald reiterated a buy rating and set a $67.00 price objective on shares of Cognizant Technology Solutions Corporation in a report on Friday, May 5th. Needham & Company LLC reiterated a buy rating and set a $70.00 price objective (up from $65.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, May 5th. Finally, Credit Suisse Group set a $70.00 price target on shares of Cognizant Technology Solutions Corporation and gave the company a buy rating in a research report on Saturday, May 6th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Cognizant Technology Solutions Corporation has an average rating of Buy and an average price target of $65.78.

Shares of Cognizant Technology Solutions Corporation (CTSH) opened at 69.32 on Friday. The company has a market capitalization of $40.83 billion, a PE ratio of 25.22 and a beta of 1.16. Cognizant Technology Solutions Corporation has a 12 month low of $45.44 and a 12 month high of $70.49. The firm’s 50-day moving average is $67.85 and its 200 day moving average is $61.92.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings data on Friday, May 5th. The information technology service provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.09. The firm had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Cognizant Technology Solutions Corporation had a net margin of 12.07% and a return on equity of 18.77%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period last year, the company earned $0.80 earnings per share. Equities research analysts predict that Cognizant Technology Solutions Corporation will post $3.67 EPS for the current year.

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In other news, insider Sean Middleton sold 1,460 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $67.39, for a total value of $98,389.40. Following the completion of the sale, the insider now directly owns 2,308 shares in the company, valued at approximately $155,536.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Srinivasan Veeraraghavachary sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $62.50, for a total transaction of $750,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,783 shares of company stock valued at $4,222,615. Company insiders own 1.08% of the company’s stock.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Cognizant Technology Solutions Corporation by 3,470.1% in the first quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock worth $2,425,316,000 after buying an additional 39,606,526 shares during the last quarter. Vanguard Group Inc. raised its stake in Cognizant Technology Solutions Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 40,545,109 shares of the information technology service provider’s stock worth $2,413,246,000 after buying an additional 1,379,271 shares in the last quarter. State Street Corp raised its stake in Cognizant Technology Solutions Corporation by 1.8% in the first quarter. State Street Corp now owns 24,267,262 shares of the information technology service provider’s stock worth $1,444,391,000 after buying an additional 435,142 shares in the last quarter. Edgewood Management LLC raised its stake in Cognizant Technology Solutions Corporation by 3.9% in the first quarter. Edgewood Management LLC now owns 14,706,635 shares of the information technology service provider’s stock worth $875,339,000 after buying an additional 557,035 shares in the last quarter. Finally, FMR LLC raised its stake in Cognizant Technology Solutions Corporation by 2.3% in the first quarter. FMR LLC now owns 13,803,392 shares of the information technology service provider’s stock worth $821,576,000 after buying an additional 314,137 shares in the last quarter. Hedge funds and other institutional investors own 89.10% 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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