Cognizant Technology Solutions Corporation (CTSH) Receives Buy Rating from Robert W. Baird

Cognizant Technology Solutions Corporation (NASDAQ:CTSH)‘s stock had its “buy” rating reissued by investment analysts at Robert W. Baird in a research note issued on Thursday. They presently have a $90.00 price target on the information technology service provider’s stock. Robert W. Baird’s price target would indicate a potential upside of 21.72% from the stock’s previous close.

CTSH has been the topic of a number of other research reports. Zacks Investment Research raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Tuesday, October 10th. Bank of America Corporation reaffirmed a “buy” rating and issued a $86.00 target price on shares of Cognizant Technology Solutions Corporation in a report on Tuesday, September 12th. KeyCorp reaffirmed a “buy” rating and issued a $79.00 target price on shares of Cognizant Technology Solutions Corporation in a report on Friday, September 8th. Cowen and Company reaffirmed a “buy” rating and issued a $75.00 target price on shares of Cognizant Technology Solutions Corporation in a report on Friday, July 28th. Finally, Vetr raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $71.62 target price on the stock in a report on Wednesday, August 2nd. Four 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 company has an average rating of “Buy” and a consensus target price of $74.07.

Shares of Cognizant Technology Solutions Corporation (CTSH) traded up 0.3423% during mid-day trading on Thursday, reaching $74.1931. The company had a trading volume of 1,376,087 shares. Cognizant Technology Solutions Corporation has a 12-month low of $49.35 and a 12-month high of $74.77. The firm’s 50 day moving average is $72.38 and its 200-day moving average is $67.51. The stock has a market capitalization of $43.82 billion, a P/E ratio of 23.8027 and a beta of 1.12.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.11. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate 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 quarter last year, the business posted $0.87 EPS. On average, analysts expect that Cognizant Technology Solutions Corporation will post $3.70 earnings per share for the current fiscal year.

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In other Cognizant Technology Solutions Corporation news, insider Debashis Chatterjee sold 2,190 shares of the business’s stock in a transaction that occurred on 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 can be accessed through this link. Also, COO Srinivasan Veeraraghavachary sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $71.00, for a total value of $177,500.00. Following the sale, the chief operating officer now directly owns 27,165 shares of the company’s stock, valued at $1,928,715. The disclosure for this sale can be found here. Insiders sold a total of 281,095 shares of company stock valued at $20,095,913 over the last ninety days. 1.08% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of CTSH. AXA increased its holdings in Cognizant Technology Solutions Corporation by 0.9% during the 1st quarter. AXA now owns 360,460 shares of the information technology service provider’s stock worth $21,455,000 after purchasing an additional 3,369 shares in the last quarter. Roundview Capital LLC increased its holdings in Cognizant Technology Solutions Corporation by 8.0% during the 1st quarter. Roundview Capital LLC now owns 14,378 shares of the information technology service provider’s stock worth $856,000 after purchasing an additional 1,065 shares in the last quarter. Burney Co. increased its holdings in Cognizant Technology Solutions Corporation by 51.4% during the 1st quarter. Burney Co. now owns 36,159 shares of the information technology service provider’s stock worth $2,152,000 after purchasing an additional 12,278 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in Cognizant Technology Solutions Corporation by 0.9% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 19,580 shares of the information technology service provider’s stock worth $1,165,000 after purchasing an additional 180 shares in the last quarter. Finally, K2 Principal Fund L.P. bought a new stake in Cognizant Technology Solutions Corporation during the 1st quarter worth approximately $3,869,000. 87.56% of the stock is owned by hedge funds and other institutional investors.

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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