Berenberg Bank upgraded shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) from a hold rating to a buy rating in a research note released on Tuesday morning, MarketBeat reports. They currently have $85.00 target price on the information technology service provider’s stock, up from their previous target price of $65.00.

A number of other brokerages have also recently commented on CTSH. Loop Capital upgraded Cognizant Technology Solutions Corporation from a hold rating to a buy rating and raised their price target for the stock from $63.00 to $83.00 in a research report on Friday, August 4th. Credit Suisse Group set a $80.00 target price on Cognizant Technology Solutions Corporation and gave the company a buy rating in a research report on Friday, August 4th. They noted that the move was a valuation call. BMO Capital Markets reiterated a buy rating and issued a $76.00 target price (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a research report on Friday, August 4th. Cowen and Company reiterated a buy rating and issued a $75.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Friday, July 28th. Finally, Vetr upgraded 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Cognizant Technology Solutions Corporation has a consensus rating of Buy and a consensus price target of $70.02.

Shares of Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 70.61 on Tuesday. The company has a market cap of $41.70 billion, a price-to-earnings ratio of 22.65 and a beta of 1.17. The firm has a 50-day moving average of $68.68 and a 200 day moving average of $62.67. Cognizant Technology Solutions Corporation has a one year low of $45.44 and a one year high of $71.57.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings results on Thursday, August 3rd. The information technology service provider reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.11. Cognizant Technology Solutions Corporation had a return on equity of 18.72% and a net margin of 13.36%. The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter last year, the business earned $0.87 earnings per share. Cognizant Technology Solutions Corporation’s revenue was up 8.9% on a year-over-year basis. Equities research analysts anticipate that Cognizant Technology Solutions Corporation will post $3.70 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 22nd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Friday, August 18th. Cognizant Technology Solutions Corporation’s dividend payout ratio is currently 19.17%.

In related news, insider Sean Middleton sold 1,890 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $65.00, for a total value of $122,850.00. Following the transaction, the insider now directly owns 2,108 shares of the company’s stock, valued at $137,020. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James Patrick Lennox sold 7,315 shares of Cognizant Technology Solutions Corporation stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $69.69, for a total value of $509,782.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,528 shares of company stock worth $5,306,449. 1.08% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Cognizant Technology Solutions Corporation by 3,470.1% in the first quarter. BlackRock Inc. now owns 40,747,905 shares of the information technology service provider’s stock valued at $2,425,316,000 after buying an additional 39,606,526 shares during the period. FMR LLC raised its position in shares of Cognizant Technology Solutions Corporation by 81.6% in the second quarter. FMR LLC now owns 25,065,752 shares of the information technology service provider’s stock valued at $1,664,366,000 after buying an additional 11,262,360 shares during the period. Comgest Global Investors S.A.S. acquired a new position in shares of Cognizant Technology Solutions Corporation during the first quarter valued at about $224,748,000. Thrivent Financial For Lutherans raised its position in shares of Cognizant Technology Solutions Corporation by 11,666.2% in the first quarter. Thrivent Financial For Lutherans now owns 2,468,550 shares of the information technology service provider’s stock valued at $146,928,000 after buying an additional 2,447,570 shares during the period. Finally, Alliancebernstein L.P. raised its position in shares of Cognizant Technology Solutions Corporation by 112.5% in the first quarter. Alliancebernstein L.P. now owns 4,487,749 shares of the information technology service provider’s stock valued at $267,111,000 after buying an additional 2,375,626 shares during the period. 89.21% of the stock is currently owned by hedge funds and other 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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