Sanford C. Bernstein Raises Cognizant Technology Solutions Corporation (NASDAQ:CTSH) Price Target to $90.00

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) had its price objective hoisted by Sanford C. Bernstein from $84.00 to $90.00 in a research report released on Thursday, November 2nd. Sanford C. Bernstein currently has an outperform rating on the information technology service provider’s stock.

Other research analysts have also issued research reports about the stock. Cantor Fitzgerald reissued a buy rating and issued a $78.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, November 1st. Oppenheimer Holdings, Inc. reiterated a buy rating and issued a $80.00 price target on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, November 1st. Needham & Company LLC upgraded shares of Cognizant Technology Solutions Corporation from a buy rating to a strong-buy rating and lifted their price target for the stock from $78.00 to $90.00 in a research note on Wednesday, November 1st. William Blair raised shares of Cognizant Technology Solutions Corporation from a market perform rating to an outperform rating in a report on Wednesday, November 1st. Finally, Credit Suisse Group reissued an outperform rating and set a $89.00 price objective (up previously from $80.00) on shares of Cognizant Technology Solutions Corporation in a report on Thursday, November 2nd. Five equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $81.19.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at $71.77 on Thursday. The stock has a market cap of $42,395.48, a price-to-earnings ratio of 21.46, a price-to-earnings-growth ratio of 1.62 and a beta of 1.10. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.07. Cognizant Technology Solutions Corporation has a twelve month low of $51.35 and a twelve month high of $76.51.

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

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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Monday, November 20th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, November 17th. Cognizant Technology Solutions Corporation’s payout ratio is 18.52%.

In other news, COO Srinivasan Veeraraghavachary sold 2,500 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $73.00, for a total transaction of $182,500.00. Following the sale, the chief operating officer now owns 24,459 shares of the company’s stock, valued at approximately $1,785,507. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Rajeev Mehta sold 34,437 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $72.54, for a total value of $2,498,059.98. Following the sale, the president now directly owns 170,063 shares in the company, valued at approximately $12,336,370.02. The disclosure for this sale can be found here. Insiders sold a total of 244,918 shares of company stock worth $17,643,259 over the last three months. 1.08% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio boosted its stake in Cognizant Technology Solutions Corporation by 0.4% in the third quarter. Public Employees Retirement System of Ohio now owns 423,088 shares of the information technology service provider’s stock worth $30,691,000 after purchasing an additional 1,489 shares in the last quarter. Crestwood Advisors Group LLC raised its position in shares of Cognizant Technology Solutions Corporation by 0.6% during the third quarter. Crestwood Advisors Group LLC now owns 231,532 shares of the information technology service provider’s stock worth $16,795,000 after acquiring an additional 1,349 shares during the last quarter. Cetera Advisors LLC bought a new stake in shares of Cognizant Technology Solutions Corporation during the third quarter worth $408,000. Yellowstone Partners LLC bought a new stake in shares of Cognizant Technology Solutions Corporation during the third quarter worth $3,813,000. Finally, Insight Capital Research & Management Inc. bought a new stake in shares of Cognizant Technology Solutions Corporation during the third quarter worth $1,971,000. 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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