Cognizant Technology Solutions (NASDAQ:CTSH) Given New $69.00 Price Target at Citigroup

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price reduced by Citigroup from $76.00 to $69.00 in a research report report published on Monday morning, AnalystRatings.com reports. They currently have a buy rating on the information technology service provider’s stock.

CTSH has been the subject of a number of other research reports. Credit Suisse Group decreased their target price on Cognizant Technology Solutions from $83.00 to $81.00 and set an outperform rating for the company in a report on Monday, September 23rd. ValuEngine raised Cognizant Technology Solutions from a sell rating to a hold rating in a report on Wednesday, October 2nd. Zacks Investment Research downgraded Cognizant Technology Solutions from a buy rating to a hold rating and set a $66.00 target price for the company. in a report on Thursday, September 5th. TheStreet raised Cognizant Technology Solutions from a c+ rating to a b- rating in a report on Tuesday, July 23rd. Finally, HSBC downgraded Cognizant Technology Solutions from a buy rating to a hold rating and decreased their target price for the stock from $72.00 to $70.00 in a report on Tuesday, July 23rd. Six analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $72.50.

Cognizant Technology Solutions stock opened at $61.39 on Monday. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 0.13. Cognizant Technology Solutions has a 52 week low of $56.73 and a 52 week high of $74.85. The company has a market capitalization of $33.35 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.39 and a beta of 1.07. The stock has a 50-day moving average price of $61.56 and a 200 day moving average price of $64.15.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its earnings results on Wednesday, July 31st. The information technology service provider reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. Cognizant Technology Solutions had a return on equity of 20.52% and a net margin of 12.61%. The firm had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year. Research analysts anticipate that Cognizant Technology Solutions will post 3.96 EPS for the current fiscal year.

In other news, Director John E. Klein sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $61.13, for a total value of $611,300.00. Following the completion of the sale, the director now directly owns 459,987 shares in the company, valued at $28,119,005.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Matthew W. Friedrich sold 452 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $64.29, for a total value of $29,059.08. The disclosure for this sale can be found here. Insiders sold 18,823 shares of company stock valued at $1,169,337 over the last 90 days. Company insiders own 0.56% of the company’s stock.

Several institutional investors have recently bought and sold shares of CTSH. North Star Investment Management Corp. purchased a new stake in shares of Cognizant Technology Solutions during the third quarter worth approximately $25,000. Field & Main Bank increased its position in shares of Cognizant Technology Solutions by 350.0% during the second quarter. Field & Main Bank now owns 450 shares of the information technology service provider’s stock worth $29,000 after purchasing an additional 350 shares in the last quarter. Berman Capital Advisors LLC increased its position in shares of Cognizant Technology Solutions by 137.7% during the second quarter. Berman Capital Advisors LLC now owns 637 shares of the information technology service provider’s stock worth $40,000 after purchasing an additional 369 shares in the last quarter. Citizens Financial Group Inc RI increased its position in shares of Cognizant Technology Solutions by 35.3% during the second quarter. Citizens Financial Group Inc RI now owns 716 shares of the information technology service provider’s stock worth $46,000 after purchasing an additional 187 shares in the last quarter. Finally, YorkBridge Wealth Partners LLC increased its position in shares of Cognizant Technology Solutions by 52.7% during the second quarter. YorkBridge Wealth Partners LLC now owns 892 shares of the information technology service provider’s stock worth $57,000 after purchasing an additional 308 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Cognizant Technology Solutions Company Profile

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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