Cognizant Technology Solutions (CTSH) Earns Buy Rating from Barclays
Barclays reiterated their buy rating on shares of Cognizant Technology Solutions (NASDAQ:CTSH) in a research note released on Friday. They currently have a $86.00 price objective on the information technology service provider’s stock.
A number of other brokerages also recently weighed in on CTSH. Cantor Fitzgerald reiterated a buy rating and set a $78.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, November 1st. Oppenheimer reiterated a buy rating and set a $80.00 price target on shares of Cognizant Technology Solutions in a report on Wednesday, November 1st. Needham & Company LLC upgraded Cognizant Technology Solutions from a buy rating to a strong-buy rating and lifted their price target for the company from $78.00 to $90.00 in a report on Wednesday, November 1st. William Blair upgraded Cognizant Technology Solutions from a market perform rating to an outperform rating in a report on Wednesday, November 1st. Finally, Credit Suisse Group reiterated an outperform rating and set a $89.00 price target (up previously from $80.00) on shares of Cognizant Technology Solutions in a report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. Cognizant Technology Solutions has a consensus rating of Buy and an average price target of $81.68.
Shares of Cognizant Technology Solutions (NASDAQ CTSH) traded down $0.05 during mid-day trading on Friday, hitting $73.32. The stock had a trading volume of 135,151 shares, compared to its average volume of 3,409,680. Cognizant Technology Solutions has a twelve month low of $51.52 and a twelve month high of $76.51. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $43,260.00, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.40 and a beta of 1.08.
Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.13. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. The business had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. Cognizant Technology Solutions’s revenue for the quarter was up 9.1% compared to the same quarter last year. analysts anticipate that Cognizant Technology Solutions will post 3.35 EPS for the current fiscal year.
In related news, CEO Francisco Dsouza sold 482,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $72.04, for a total transaction of $34,723,280.00. Following the completion of the transaction, the chief executive officer now owns 621,643 shares of the company’s stock, valued at approximately $44,783,161.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Nelson Fox, Jr. sold 19,500 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $72.00, for a total value of $1,404,000.00. Following the transaction, the director now directly owns 55,090 shares of the company’s stock, valued at approximately $3,966,480. The disclosure for this sale can be found here. Insiders sold 567,286 shares of company stock valued at $40,909,622 in the last ninety days. Insiders own 1.08% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. QUANTRES ASSET MANAGEMENT Ltd bought a new position in Cognizant Technology Solutions during the fourth quarter valued at about $1,428,000. Aurora Investment Counsel bought a new position in Cognizant Technology Solutions during the fourth quarter valued at about $1,252,000. Fulton Bank N.A. increased its stake in Cognizant Technology Solutions by 31.8% during the fourth quarter. Fulton Bank N.A. now owns 31,416 shares of the information technology service provider’s stock valued at $2,231,000 after acquiring an additional 7,583 shares during the period. Atlantic Trust Group LLC increased its stake in Cognizant Technology Solutions by 25.2% during the third quarter. Atlantic Trust Group LLC now owns 797,607 shares of the information technology service provider’s stock valued at $57,858,000 after acquiring an additional 160,557 shares during the period. Finally, AXA increased its stake in Cognizant Technology Solutions by 11.3% during the third quarter. AXA now owns 371,160 shares of the information technology service provider’s stock valued at $26,924,000 after acquiring an additional 37,600 shares during the period. 85.98% of the stock is owned by institutional investors and hedge funds.
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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.
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