A number of firms have modified their ratings and price targets on shares of Cognizant Technology Solutions Corporation (NASDAQ: CTSH) recently:

  • 8/10/2017 – Cognizant Technology Solutions Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Cognizant's strong growth in the second-quarter can be attributed to its significant exposure to the fast-growing verticals like Financial Services and Healthcare. The company narrowed its top-line guidance for 2017, which reflects improved visibility. Moreover, the company raised its earnings guidance. We believe that the results and the guidance indicate the company’s ability in harnessing the ongoing digital transition. The company is significantly benefiting from accretive acquisitions. Cognizant has gained deep industry expertise and knowledge of the domains through partnerships with top firms like Microsoft and SAP.  Moreover, this strategy has enabled the company to deliver more value to clients and capitalize on new opportunities. However, stiff competition in the IT services market is a concern.”
  • 8/9/2017 – Cognizant Technology Solutions Corporation had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $78.00 price target on the stock, up previously from $72.00.
  • 8/8/2017 – Cognizant Technology Solutions Corporation was upgraded by analysts at Berenberg Bank from a “hold” rating to a “buy” rating. They now have a $85.00 price target on the stock, up previously from $65.00.
  • 8/8/2017 – Cognizant Technology Solutions Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $80.00 price target on the stock. According to Zacks, “Cognizant's strong growth in the second-quarter can be attributed to its significant exposure to the fast-growing verticals like Financial Services and Healthcare. The company narrowed its top-line guidance for 2017, which reflects improved visibility. Moreover, the company raised its earnings guidance. We believe that the results and the guidance indicate the company’s ability in harnessing the ongoing digital transition. The company is significantly benefiting from accretive acquisitions. Cognizant has gained deep industry expertise and knowledge of the domains through partnerships with top firms like Microsoft and SAP.  Moreover, this strategy has enabled the company to deliver more value to clients and capitalize on new opportunities. It has also provided a competitive edge against its peers. The company has outperformed the industry on a year-to-date basis.”
  • 8/4/2017 – Cognizant Technology Solutions Corporation was upgraded by analysts at Loop Capital from a “hold” rating to a “buy” rating. They now have a $83.00 price target on the stock, up previously from $63.00.
  • 8/4/2017 – Cognizant Technology Solutions Corporation was given a new $80.00 price target on by analysts at Credit Suisse Group. They now have a “buy” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 8/4/2017 – Cognizant Technology Solutions Corporation had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $76.00 price target on the stock, up previously from $69.00.
  • 8/2/2017 – Cognizant Technology Solutions Corporation was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $71.62 price target on the stock.
  • 7/28/2017 – Cognizant Technology Solutions Corporation had its “buy” rating reaffirmed by analysts at Cowen and Company. They now have a $75.00 price target on the stock.
  • 6/22/2017 – Cognizant Technology Solutions Corporation was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 6/15/2017 – Cognizant Technology Solutions Corporation had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings, Inc.. They now have a $80.00 price target on the stock, up previously from $66.00.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) traded down 1.41% on Thursday, reaching $70.01. 3,098,881 shares of the company’s stock traded hands. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $71.57. The firm has a market capitalization of $41.35 billion, a PE ratio of 22.46 and a beta of 1.17. The firm’s 50 day moving average price is $68.52 and its 200 day moving average price is $62.51.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last announced its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, beating 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 business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the prior year, the business posted $0.87 earnings per share. Cognizant Technology Solutions Corporation’s revenue was up 8.9% compared to the same quarter last year. On average, analysts predict that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.60 annualized dividend and a yield of 0.86%. Cognizant Technology Solutions Corporation’s dividend payout ratio is currently 19.17%.

In other Cognizant Technology Solutions Corporation news, Director Maureen Breakiron-Evans sold 12,368 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $69.70, for a total value of $862,049.60. Following the completion of the sale, the director now owns 1,075 shares of the company’s stock, valued at $74,927.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Srinivasan Veeraraghavachary sold 3,069 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $65.00, for a total transaction of $199,485.00. Following the completion of the sale, the chief operating officer now directly owns 24,737 shares of the company’s stock, valued at approximately $1,607,905. The disclosure for this sale can be found here. Insiders sold 77,528 shares of company stock worth $5,306,449 over the last 90 days. 1.08% of the stock is currently owned by company insiders.

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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