Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective raised by equities researchers at Deutsche Bank from $60.00 to $68.00 in a research note issued on Thursday, BenzingaRatingsTable reports. The brokerage presently has a “hold” rating on the information technology service provider’s stock. Deutsche Bank’s price target indicates a potential downside of 0.47% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Nomura restated a “hold” rating and set a $68.00 price target on shares of Cognizant Technology Solutions in a report on Sunday, May 10th. Needham & Company LLC upgraded Cognizant Technology Solutions from an “underperform” rating to a “hold” rating in a report on Thursday. BidaskClub upgraded Cognizant Technology Solutions from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup increased their price objective on Cognizant Technology Solutions from $66.00 to $78.00 and gave the company a “buy” rating in a report on Thursday. Finally, upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and set a $60.00 price objective on the stock in a report on Wednesday, June 10th. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. Cognizant Technology Solutions has an average rating of “Hold” and a consensus price target of $66.67.

NASDAQ CTSH traded down $0.86 during trading hours on Thursday, hitting $68.32. 3,646,901 shares of the company were exchanged, compared to its average volume of 3,030,816. The company has a 50 day moving average of $57.51 and a two-hundred day moving average of $56.95. The company has a quick ratio of 2.90, a current ratio of 2.66 and a debt-to-equity ratio of 0.29. Cognizant Technology Solutions has a 52-week low of $40.01 and a 52-week high of $71.48. The firm has a market cap of $36.93 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 1.78 and a beta of 1.15.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, July 29th. The information technology service provider reported $0.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.14. Cognizant Technology Solutions had a return on equity of 19.87% and a net margin of 9.67%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the business earned $0.94 EPS. Cognizant Technology Solutions’s revenue was down 3.4% on a year-over-year basis. On average, equities research analysts predict that Cognizant Technology Solutions will post 3.54 EPS for the current year.

In related news, General Counsel Matthew W. Friedrich sold 3,153 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $54.83, for a total value of $172,878.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Malcolm Frank sold 1,492 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $54.83, for a total value of $81,806.36. Following the completion of the transaction, the insider now directly owns 32,924 shares of the company’s stock, valued at $1,805,222.92. The disclosure for this sale can be found here. Insiders sold a total of 5,794 shares of company stock valued at $318,107 over the last three months. Insiders own 0.31% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. West Bancorporation Inc. grew its position in shares of Cognizant Technology Solutions by 12.3% in the second quarter. West Bancorporation Inc. now owns 1,809 shares of the information technology service provider’s stock valued at $103,000 after purchasing an additional 198 shares during the period. Private Trust Co. NA boosted its holdings in Cognizant Technology Solutions by 1.7% in the first quarter. Private Trust Co. NA now owns 13,663 shares of the information technology service provider’s stock valued at $634,000 after acquiring an additional 230 shares during the last quarter. First Mercantile Trust Co. boosted its holdings in Cognizant Technology Solutions by 11.8% in the first quarter. First Mercantile Trust Co. now owns 2,290 shares of the information technology service provider’s stock valued at $106,000 after acquiring an additional 242 shares during the last quarter. Altfest L J & Co. Inc. boosted its holdings in Cognizant Technology Solutions by 5.3% in the second quarter. Altfest L J & Co. Inc. now owns 5,070 shares of the information technology service provider’s stock valued at $288,000 after acquiring an additional 254 shares during the last quarter. Finally, Cim Investment Mangement Inc. boosted its holdings in Cognizant Technology Solutions by 3.4% in the first quarter. Cim Investment Mangement Inc. now owns 8,007 shares of the information technology service provider’s stock valued at $372,000 after acquiring an additional 261 shares during the last quarter. 90.22% of the stock is owned by institutional investors.

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 analytics and artificial intelligence, digital engineering, intelligent process automation, interactive, and hybrid cloud services and solutions; and application development, systems integration, application testing and maintenance, infrastructure, and business process services.

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Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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