Cognizant Technology Solutions (NASDAQ:CTSH) was upgraded by research analysts at William Blair from a “market perform” rating to an “outperform” rating in a research note issued on Wednesday, The Fly reports.
Other research analysts have also issued research reports about the stock. Wells Fargo & Company initiated coverage on shares of Cognizant Technology Solutions in a report on Friday, December 18th. They issued an “overweight” rating on the stock. Societe Generale upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating and lifted their price objective for the company from $79.00 to $85.00 in a research note on Thursday, October 29th. 140166 upgraded shares of Cognizant Technology Solutions from a “neutral” rating to a “positive” rating and set a $87.00 price objective on the stock in a research note on Tuesday, October 13th. Credit Suisse Group lifted their price objective on shares of Cognizant Technology Solutions from $79.00 to $91.00 and gave the company an “outperform” rating in a research note on Tuesday, December 29th. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cognizant Technology Solutions from $68.00 to $71.00 and gave the company a “hold” rating in a research note on Thursday, October 29th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Cognizant Technology Solutions presently has an average rating of “Hold” and an average target price of $73.79.
NASDAQ CTSH opened at $79.76 on Wednesday. Cognizant Technology Solutions has a one year low of $40.01 and a one year high of $82.73. The company’s 50 day moving average price is $80.40 and its 200 day moving average price is $71.70. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.61 and a current ratio of 2.62. The firm has a market capitalization of $43.25 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 1.83 and a beta of 1.12.
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Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, October 28th. The information technology service provider reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.07. Cognizant Technology Solutions had a net margin of 8.78% and a return on equity of 19.04%. The firm had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.15 billion. Sell-side analysts forecast that Cognizant Technology Solutions will post 3.65 EPS for the current fiscal year.
In other Cognizant Technology Solutions news, Director John Nelson Fox, Jr. sold 6,926 shares of Cognizant Technology Solutions stock in a transaction on Thursday, December 3rd. The shares were sold at an average price of $78.07, for a total value of $540,712.82. Following the completion of the transaction, the director now owns 43,554 shares of the company’s stock, valued at $3,400,260.78. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Matthew W. Friedrich sold 1,077 shares of Cognizant Technology Solutions stock in a transaction on Tuesday, December 8th. The stock was sold at an average price of $80.20, for a total transaction of $86,375.40. Following the completion of the transaction, the general counsel now directly owns 5,043 shares of the company’s stock, valued at approximately $404,448.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,561 shares of company stock valued at $828,293. Insiders own 0.31% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CTSH. Neuberger Berman Group LLC boosted its holdings in Cognizant Technology Solutions by 66.8% in the third quarter. Neuberger Berman Group LLC now owns 2,243,004 shares of the information technology service provider’s stock worth $155,634,000 after purchasing an additional 898,417 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in shares of Cognizant Technology Solutions by 21.7% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,834,301 shares of the information technology service provider’s stock valued at $335,597,000 after acquiring an additional 861,075 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in shares of Cognizant Technology Solutions by 412.1% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 601,102 shares of the information technology service provider’s stock valued at $41,729,000 after acquiring an additional 483,714 shares during the period. Retirement Systems of Alabama boosted its holdings in shares of Cognizant Technology Solutions by 36.2% during the third quarter. Retirement Systems of Alabama now owns 1,070,721 shares of the information technology service provider’s stock valued at $74,329,000 after acquiring an additional 284,584 shares during the period. Finally, J. Goldman & Co LP acquired a new position in shares of Cognizant Technology Solutions during the third quarter valued at $18,279,000. 87.66% of the stock is owned by hedge funds and other institutional investors.
About Cognizant Technology Solutions
Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology.
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