Cognizant Technology Solutions Corporation (CTSH) Stock Rating Upgraded by Berenberg Bank

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) was upgraded by research analysts at Berenberg Bank from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Marketbeat.com reports. The brokerage currently has a $85.00 target price on the information technology service provider’s stock, up from their prior target price of $65.00. Berenberg Bank’s target price points to a potential upside of 19.70% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. 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 report on Saturday, May 6th. Needham & Company LLC reissued a “buy” rating and set a $70.00 price target (up previously from $65.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, May 5th. Cantor Fitzgerald reissued a “buy” rating and set a $67.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Friday, May 5th. Vetr downgraded shares of Cognizant Technology Solutions Corporation from a “strong-buy” rating to a “buy” rating and set a $67.50 price target for the company. in a report on Monday, May 1st. Finally, Deutsche Bank AG reissued a “buy” rating and set a $79.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, May 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $70.02.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 71.01 on Tuesday. The stock has a 50 day moving average of $68.52 and a 200 day moving average of $62.51. Cognizant Technology Solutions Corporation has a one year low of $45.44 and a one year high of $71.57. The firm has a market cap of $41.82 billion, a PE ratio of 25.83 and a beta of 1.17.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its quarterly earnings data on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $3.65 billion. During the same quarter in the previous year, the company posted $0.87 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. On average, equities analysts forecast 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, EVP Allen Shaheen sold 4,186 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $67.56, for a total value of $282,806.16. Following the sale, the executive vice president now directly owns 442 shares in the company, valued at $29,861.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Srinivasan Veeraraghavachary sold 3,069 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was 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 owns 24,737 shares in the company, valued at $1,607,905. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,528 shares of company stock worth $5,306,449. 1.08% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the company. CENTRAL TRUST Co increased its stake in Cognizant Technology Solutions Corporation by 13.8% in the first quarter. CENTRAL TRUST Co now owns 6,368 shares of the information technology service provider’s stock valued at $379,000 after buying an additional 770 shares during the last quarter. Raymond James Trust N.A. increased its stake in Cognizant Technology Solutions Corporation by 10.2% in the first quarter. Raymond James Trust N.A. now owns 10,996 shares of the information technology service provider’s stock valued at $655,000 after buying an additional 1,016 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in Cognizant Technology Solutions Corporation by 1.9% in the first quarter. Gulf International Bank UK Ltd now owns 186,615 shares of the information technology service provider’s stock valued at $11,107,000 after buying an additional 3,500 shares during the last quarter. Koshinski Asset Management Inc. increased its stake in Cognizant Technology Solutions Corporation by 3.4% in the first quarter. Koshinski Asset Management Inc. now owns 3,930 shares of the information technology service provider’s stock valued at $234,000 after buying an additional 130 shares during the last quarter. Finally, National Pension Service increased its stake in Cognizant Technology Solutions Corporation by 7.0% in the first quarter. National Pension Service now owns 480,168 shares of the information technology service provider’s stock valued at $28,445,000 after buying an additional 31,575 shares during the last quarter. Hedge funds and other institutional investors own 89.21% 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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