BMO Capital Markets Reaffirms “Buy” Rating for Cognizant Technology Solutions (CTSH)

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Cognizant Technology Solutions (NASDAQ:CTSH)‘s stock had its “buy” rating reiterated by analysts at BMO Capital Markets in a report issued on Tuesday. They currently have a $82.00 price target on the information technology service provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 23.27% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on CTSH. Zacks Investment Research downgraded shares of Cognizant Technology Solutions from a “hold” rating to a “sell” rating in a research report on Monday, July 9th. BidaskClub upgraded shares of Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Friday, July 13th. Wolfe Research started coverage on shares of Cognizant Technology Solutions in a research report on Tuesday, July 17th. They issued a “market perform” rating for the company. Cowen reiterated a “buy” rating and issued a $87.00 price target on shares of Cognizant Technology Solutions in a research report on Friday, August 3rd. Finally, KeyCorp dropped their price target on shares of Cognizant Technology Solutions from $91.00 to $89.00 and set an “overweight” rating for the company in a research report on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $85.38.

Shares of NASDAQ:CTSH traded down $2.70 during trading on Tuesday, reaching $66.52. 9,019,611 shares of the stock were exchanged, compared to its average volume of 3,489,986. Cognizant Technology Solutions has a 12 month low of $65.14 and a 12 month high of $85.10. The stock has a market cap of $40.92 billion, a PE ratio of 18.84, a P/E/G ratio of 1.30 and a beta of 0.90. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.06. Cognizant Technology Solutions had a net margin of 9.37% and a return on equity of 21.66%. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the business earned $0.98 earnings per share. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Equities research analysts expect that Cognizant Technology Solutions will post 4.18 earnings per share for the current year.

In other news, General Counsel Matthew W. Friedrich sold 2,881 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $75.17, for a total transaction of $216,564.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allen Shaheen sold 352 shares of the company’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $74.89, for a total transaction of $26,361.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,288 shares of company stock valued at $3,694,551. Company insiders own 0.60% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Redwood Investments LLC bought a new stake in shares of Cognizant Technology Solutions in the second quarter worth $917,000. Madison Investment Holdings Inc. bought a new stake in shares of Cognizant Technology Solutions in the second quarter worth $50,081,000. Natixis bought a new stake in shares of Cognizant Technology Solutions in the second quarter worth $8,902,000. Andra AP fonden grew its stake in shares of Cognizant Technology Solutions by 15.7% in the second quarter. Andra AP fonden now owns 134,600 shares of the information technology service provider’s stock worth $10,632,000 after purchasing an additional 18,300 shares during the last quarter. Finally, Linscomb & Williams Inc. grew its stake in shares of Cognizant Technology Solutions by 24.1% in the second quarter. Linscomb & Williams Inc. now owns 5,793 shares of the information technology service provider’s stock worth $458,000 after purchasing an additional 1,125 shares during the last quarter. Institutional investors own 88.04% of the company’s stock.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services worldwide. The company operates through four segments: Financial Services; Healthcare; Products and Resources; and Communications, Media and Technology. It offers business, process, operations, and technology consulting services; application design and development, and systems integration services; application testing, consulting, and engineering services; and enterprise information management services.

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Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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