Cognizant Technology Solutions Corp. (CTSH) Upgraded at Vetr Inc.

Vetr upgraded shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) from a buy rating to a strong-buy rating in a report issued on Monday. The firm currently has $61.76 price target on the information technology service provider’s stock.

Several other research firms also recently weighed in on CTSH. Nomura downgraded Cognizant Technology Solutions Corp. from a buy rating to a neutral rating and dropped their price target for the stock from $65.00 to $62.00 in a research report on Monday, August 8th. Cantor Fitzgerald restated a buy rating and set a $68.00 price objective on shares of Cognizant Technology Solutions Corp. in a report on Monday, October 3rd. Wedbush initiated coverage on Cognizant Technology Solutions Corp. in a report on Thursday, September 8th. They set a neutral rating and a $65.00 price objective on the stock. Needham & Company LLC decreased their price objective on Cognizant Technology Solutions Corp. from $70.00 to $68.00 and set a buy rating on the stock in a report on Monday, August 8th. Finally, JPMorgan Chase & Co. restated a buy rating and set a $62.00 price objective on shares of Cognizant Technology Solutions Corp. in a report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Cognizant Technology Solutions Corp. presently has an average rating of Buy and an average price target of $64.99.

Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) opened at 51.86 on Monday. The firm’s 50-day moving average price is $52.05 and its 200 day moving average price is $56.59. Cognizant Technology Solutions Corp. has a one year low of $45.44 and a one year high of $65.91. The stock has a market cap of $31.46 billion, a P/E ratio of 20.26 and a beta of 1.34.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last released its quarterly earnings results on Monday, November 7th. The information technology service provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. The company earned $3.45 billion during the quarter, compared to the consensus estimate of $3.46 billion. Cognizant Technology Solutions Corp. had a return on equity of 19.42% and a net margin of 11.78%. Cognizant Technology Solutions Corp.’s revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 earnings per share. Equities research analysts expect that Cognizant Technology Solutions Corp. will post $3.37 EPS for the current fiscal year.

In other news, CFO Karen Mcloughlin sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $51.27, for a total transaction of $512,700.00. Following the completion of the transaction, the chief financial officer now directly owns 52,614 shares in the company, valued at $2,697,519.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Malcolm Frank sold 1,248 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $58.50, for a total value of $73,008.00. Following the transaction, the vice president now owns 3,945 shares of the company’s stock, valued at $230,782.50. The disclosure for this sale can be found here. 0.81% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Washington Trust Bank increased its position in shares of Cognizant Technology Solutions Corp. by 6.8% in the second quarter. Washington Trust Bank now owns 1,789 shares of the information technology service provider’s stock valued at $102,000 after buying an additional 114 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Cognizant Technology Solutions Corp. during the second quarter valued at about $123,000. Exane Derivatives increased its position in shares of Cognizant Technology Solutions Corp. by 22.3% in the second quarter. Exane Derivatives now owns 2,278 shares of the information technology service provider’s stock valued at $130,000 after buying an additional 416 shares in the last quarter. Virtus Investment Advisers Inc. acquired a new position in shares of Cognizant Technology Solutions Corp. during the third quarter valued at about $132,000. Finally, SRB Corp acquired a new position in shares of Cognizant Technology Solutions Corp. during the third quarter valued at about $136,000. Institutional investors and hedge funds own 85.29% of the company’s stock.

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About Cognizant Technology Solutions Corp.

Cognizant Technology Solutions Corporation is a provider of information technology (IT), consulting and business process services. The Company operates through four segments: Financial Services, which includes customers providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers, as well as life sciences customers, including pharmaceutical, biotech and medical device companies; Manufacturing, Retail and Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as customers providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology.

5 Day Chart for NASDAQ:CTSH

To view Vetr’s full report, visit Vetr’s official website.

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