KeyCorp Reiterates Buy Rating for Cognizant Technology Solutions Corporation (CTSH)

Cognizant Technology Solutions Corporation (NASDAQ:CTSH)‘s stock had its “buy” rating reaffirmed by research analysts at KeyCorp in a research report issued to clients and investors on Thursday. They presently have a $79.00 price target on the information technology service provider’s stock. KeyCorp’s price target would indicate a potential upside of 7.34% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Robert W. Baird reissued a “buy” rating and set a $80.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Sunday, September 10th. BidaskClub raised Cognizant Technology Solutions Corporation from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd. Bank of America Corporation reissued a “buy” rating and set a $86.00 price target on shares of Cognizant Technology Solutions Corporation in a report on Tuesday, September 12th. Vetr raised Cognizant Technology Solutions Corporation from a “sell” rating to a “buy” rating and set a $76.85 price target on the stock in a report on Tuesday, September 19th. Finally, Wedbush reissued an “outperform” rating on shares of Cognizant Technology Solutions Corporation in a report on Monday, September 18th. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $73.66.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 0.67% during mid-day trading on Thursday, reaching $74.09. The company’s stock had a trading volume of 2,620,334 shares. The firm has a market cap of $43.76 billion, a PE ratio of 23.77 and a beta of 1.12. Cognizant Technology Solutions Corporation has a 12-month low of $49.35 and a 12-month high of $74.47. The company has a 50-day moving average price of $71.77 and a 200-day moving average price of $66.97.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.11. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.65 billion. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 EPS. On average, equities research analysts expect that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current year.

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In other news, insider Debashis Chatterjee sold 2,190 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $74.00, for a total transaction of $162,060.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allen Shaheen sold 442 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $70.58, for a total value of $31,196.36. The disclosure for this sale can be found here. Insiders sold a total of 289,514 shares of company stock valued at $20,680,893 in the last quarter. 1.08% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Pathstone Family Office LLC grew its position in shares of Cognizant Technology Solutions Corporation by 1,208.8% during the second quarter. Pathstone Family Office LLC now owns 1,479 shares of the information technology service provider’s stock valued at $2,485,000 after purchasing an additional 1,366 shares in the last quarter. Acrospire Investment Management LLC grew its position 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 valued at $110,000 after purchasing an additional 800 shares in the last quarter. WFG Advisors LP grew its position 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 valued at $130,000 after purchasing an additional 621 shares in the last quarter. Krilogy Financial LLC purchased a new position in shares of Cognizant Technology Solutions Corporation during the second quarter valued at about $137,000. Finally, Guardian Life Insurance Co. of America grew its position 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 valued at $140,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 87.60% of the company’s stock.

Cognizant Technology Solutions Corporation 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.

Analyst Recommendations for Cognizant Technology Solutions Corporation (NASDAQ:CTSH)

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