Zacks Investment Research upgraded shares of Cognizant Technology Solutions (NASDAQ:CTSH) from a sell rating to a hold rating in a research note released on Friday morning.

According to Zacks, “Cognizant is benefiting from its significant exposure to the fast-growing verticals like financial services and healthcare. The company is gaining due to domain expertise as well as its ability to harness the ongoing digital transition. It is also significantly gaining from accretive acquisitions and aggressive share repurchase. However, the company faces geographic, domain and customer concentration risks. Further, lackluster spending by large banks in the financial services sector and stiff competition in the IT services market remains a concern. Shares have underperformed the industry in the past year.”

Several other brokerages also recently issued reports on CTSH. HSBC upgraded shares of Cognizant Technology Solutions from a hold rating to a buy rating in a report on Tuesday, September 18th. Moffett Nathanson began coverage on Cognizant Technology Solutions in a report on Thursday, October 4th. They issued a neutral rating and a $85.00 price objective for the company. Cowen downgraded Cognizant Technology Solutions from an outperform rating to a market perform rating and set a $67.98 price objective for the company. in a report on Sunday, December 2nd. Loop Capital set a $94.00 price objective on Cognizant Technology Solutions and gave the company a buy rating in a report on Monday, November 19th. Finally, BMO Capital Markets restated a hold rating and issued a $75.00 price objective on shares of Cognizant Technology Solutions in a report on Tuesday, November 20th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cognizant Technology Solutions presently has a consensus rating of Buy and a consensus target price of $81.81.

Shares of NASDAQ:CTSH traded up $0.11 during trading on Friday, hitting $64.92. 3,320,566 shares of the company were exchanged, compared to its average volume of 3,576,496. The company has a market capitalization of $37.21 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.27 and a beta of 0.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.24 and a current ratio of 3.24. Cognizant Technology Solutions has a 1-year low of $59.47 and a 1-year high of $85.10.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Tuesday, October 30th. The information technology service provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.06. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.08 billion. Cognizant Technology Solutions had a net margin of 9.07% and a return on equity of 22.54%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 earnings per share. On average, equities analysts forecast that Cognizant Technology Solutions will post 4.12 EPS for the current fiscal year.

In related news, SVP Robert Telesmanic sold 5,062 shares of the company’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $68.00, for a total value of $344,216.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Malcolm Frank sold 7,251 shares of the company’s stock in a transaction dated Thursday, January 3rd. The stock was sold at an average price of $61.88, for a total transaction of $448,691.88. Following the completion of the sale, the vice president now owns 26,289 shares in the company, valued at approximately $1,626,763.32. The disclosure for this sale can be found here. Insiders sold a total of 25,357 shares of company stock worth $1,687,955 in the last 90 days. 0.60% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of CTSH. BlackRock Inc. increased its stake in Cognizant Technology Solutions by 4.4% in the 3rd quarter. BlackRock Inc. now owns 44,745,894 shares of the information technology service provider’s stock valued at $3,452,146,000 after buying an additional 1,900,423 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Cognizant Technology Solutions by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 43,571,388 shares of the information technology service provider’s stock worth $3,361,533,000 after purchasing an additional 241,595 shares during the last quarter. Vanguard Group Inc increased its stake in shares of Cognizant Technology Solutions by 0.6% during the 3rd quarter. Vanguard Group Inc now owns 43,571,388 shares of the information technology service provider’s stock worth $3,361,533,000 after purchasing an additional 241,595 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Cognizant Technology Solutions by 0.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 18,415,017 shares of the information technology service provider’s stock worth $1,420,720,000 after purchasing an additional 141,930 shares during the last quarter. Finally, Edgewood Management LLC increased its stake in shares of Cognizant Technology Solutions by 1.4% during the 3rd quarter. Edgewood Management LLC now owns 18,390,315 shares of the information technology service provider’s stock worth $1,418,813,000 after purchasing an additional 252,411 shares during the last quarter. Institutional investors own 86.19% 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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