Cognizant Technology Solutions Corporation (CTSH) Receives “Outperform” Rating from Credit Suisse Group

Cognizant Technology Solutions Corporation (NASDAQ:CTSH)‘s stock had its “outperform” rating restated by investment analysts at Credit Suisse Group in a report issued on Thursday, November 2nd. They presently have a $89.00 target price on the information technology service provider’s stock, up from their prior target price of $80.00. Credit Suisse Group’s price target indicates a potential upside of 24.01% from the stock’s previous close.

Several other equities analysts have also recently issued reports on CTSH. Cowen and Company restated a “buy” rating and set a $75.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Friday, July 28th. 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 research report on Wednesday, August 2nd. Loop Capital raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $63.00 to $83.00 in a research report on Friday, August 4th. BMO Capital Markets reaffirmed a “buy” rating and issued a $76.00 target price (up from $69.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, August 4th. Finally, Berenberg Bank raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and increased their target price for the stock from $65.00 to $85.00 in a research report on Tuesday, August 8th. Five research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. Cognizant Technology Solutions Corporation currently has a consensus rating of “Buy” and a consensus target price of $81.19.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) opened at $71.77 on Thursday. The firm has a market capitalization of $42,395.48, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 1.62 and a beta of 1.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 3.29. Cognizant Technology Solutions Corporation has a fifty-two week low of $51.35 and a fifty-two week high of $76.51.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its earnings results on Wednesday, November 1st. The information technology service provider reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.13. Cognizant Technology Solutions Corporation had a return on equity of 18.94% and a net margin of 13.42%. The company had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the business posted $0.86 EPS. The business’s revenue was up 9.1% on a year-over-year basis. equities analysts forecast that Cognizant Technology Solutions Corporation will post 3.35 earnings per share for the current year.

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In related news, insider Venkat Krishnaswamy sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $75.00, for a total value of $300,000.00. Following the transaction, the insider now directly owns 3,919 shares of the company’s stock, valued at approximately $293,925. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Rajeev Mehta sold 34,437 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $72.54, for a total value of $2,498,059.98. Following the completion of the transaction, the president now directly owns 170,063 shares in the company, valued at $12,336,370.02. The disclosure for this sale can be found here. Insiders have sold a total of 244,918 shares of company stock valued at $17,643,259 over the last ninety days. Company insiders own 1.08% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Linscomb & Williams Inc. bought a new position in Cognizant Technology Solutions Corporation in the 3rd quarter worth approximately $278,000. Robeco Institutional Asset Management B.V. increased its position in Cognizant Technology Solutions Corporation by 45.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 143,385 shares of the information technology service provider’s stock worth $10,401,000 after buying an additional 44,982 shares during the period. Comgest Global Investors S.A.S. increased its position in Cognizant Technology Solutions Corporation by 57.7% in the 2nd quarter. Comgest Global Investors S.A.S. now owns 5,954,817 shares of the information technology service provider’s stock worth $395,400,000 after buying an additional 2,178,800 shares during the period. Oak Ridge Investments LLC increased its position in Cognizant Technology Solutions Corporation by 7.1% in the 2nd quarter. Oak Ridge Investments LLC now owns 169,645 shares of the information technology service provider’s stock worth $11,264,000 after buying an additional 11,316 shares during the period. Finally, Atlantic Trust Group LLC increased its position in Cognizant Technology Solutions Corporation by 1.3% in the 2nd quarter. Atlantic Trust Group LLC now owns 637,050 shares of the information technology service provider’s stock worth $42,300,000 after buying an additional 8,245 shares during the period. 88.00% of the stock is currently owned by institutional investors.

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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