Wedbush reiterated their outperform rating on shares of Cognizant Technology Solutions Corporation (NASDAQ:CTSH) in a research report sent to investors on Monday morning. Wedbush also issued estimates for Cognizant Technology Solutions Corporation’s Q3 2017 earnings at $0.85 EPS, Q4 2017 earnings at $0.89 EPS, FY2017 earnings at $3.33 EPS, Q1 2018 earnings at $0.90 EPS, Q3 2018 earnings at $0.98 EPS and FY2018 earnings at $3.89 EPS.

Other analysts also recently issued research reports about the stock. BMO Capital Markets restated a buy rating and set a $76.00 price target (up previously from $69.00) on shares of Cognizant Technology Solutions Corporation in a report on Friday, August 4th. Needham & Company LLC restated a buy rating and set a $78.00 price target (up previously from $72.00) on shares of Cognizant Technology Solutions Corporation in a report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Cognizant Technology Solutions Corporation from a buy rating to a hold rating in a report on Thursday, August 10th. Berenberg Bank upgraded shares of Cognizant Technology Solutions Corporation from a hold rating to a buy rating and raised their price target for the stock from $65.00 to $85.00 in a report on Tuesday, August 8th. Finally, Loop Capital upgraded shares of 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 report on Friday, August 4th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $72.51.

Cognizant Technology Solutions Corporation (NASDAQ CTSH) opened at 72.46 on Monday. Cognizant Technology Solutions Corporation has a 1-year low of $45.44 and a 1-year high of $73.00. The company has a market cap of $42.80 billion, a PE ratio of 23.25 and a beta of 1.14. The stock’s 50 day moving average price is $70.75 and its 200-day moving average price is $65.41.

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

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The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Tuesday, August 22nd were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $0.60 annualized dividend and a dividend yield of 0.83%. Cognizant Technology Solutions Corporation’s dividend payout ratio (DPR) is currently 19.17%.

In other news, EVP Allen Shaheen sold 442 shares of Cognizant Technology Solutions Corporation stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $70.58, for a total transaction of $31,196.36. The transaction 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 on Wednesday, September 13th. The stock was sold at an average price of $72.54, for a total transaction of $2,498,059.98. Following the sale, the president now directly owns 170,063 shares of the company’s stock, valued at $12,336,370.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 275,756 shares of company stock valued at $19,685,771. Corporate insiders own 1.08% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in CTSH. Acrospire Investment Management LLC lifted its position in shares of Cognizant Technology Solutions Corporation by 92.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,664 shares of the information technology service provider’s stock worth $110,000 after purchasing an additional 800 shares during the last quarter. WFG Advisors LP lifted its position in shares of Cognizant Technology Solutions Corporation by 46.4% during the 2nd quarter. WFG Advisors LP now owns 1,958 shares of the information technology service provider’s stock worth $130,000 after purchasing an additional 621 shares during the last quarter. Krilogy Financial LLC purchased a new stake in shares of Cognizant Technology Solutions Corporation during the 2nd quarter worth $137,000. Guardian Life Insurance Co. of America lifted its position in shares of Cognizant Technology Solutions Corporation by 1.2% during the 1st quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock worth $140,000 after purchasing an additional 27 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of Cognizant Technology Solutions Corporation by 24.2% during the 1st quarter. Assetmark Inc. now owns 2,592 shares of the information technology service provider’s stock worth $154,000 after purchasing an additional 505 shares during the last quarter. 87.59% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Corporation Company Profile

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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