Published On: Sun, Sep 18th, 2016

Cognizant Technology Solutions Corp. (CTSH) Upgraded at Vetr Inc.

Cognizant Technology Solutions Corp. (NASDAQ:CTSH) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Monday. The brokerage currently has a $65.33 target price on the information technology service provider’s stock. Vetr‘s target price indicates a potential upside of 22.52% from the company’s current price.
CTSH has been the subject of a number of other reports. Cantor Fitzgerald reiterated a “buy” rating and set a $68.00 price target on shares of Cognizant Technology Solutions Corp. in a report on Wednesday, September 7th. Robert W. Baird restated a “buy” rating on shares of Cognizant Technology Solutions Corp. in a research note on Monday, May 16th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $68.00 target price on shares of Cognizant Technology Solutions Corp. in a research note on Friday, July 1st. Zacks Investment Research upgraded Cognizant Technology Solutions Corp. from a “sell” rating to a “hold” rating in a research note on Monday, August 22nd. Finally, Jefferies Group restated a “buy” rating and issued a $70.00 target price on shares of Cognizant Technology Solutions Corp. in a research note on Monday, June 20th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $66.87.
Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded down 1.44% during midday trading on Monday, reaching $53.32. 7,785,231 shares of the company traded hands. The company has a market cap of $32.36 billion, a price-to-earnings ratio of 21.50 and a beta of 1.28. Cognizant Technology Solutions Corp. has a 12-month low of $51.22 and a 12-month high of $69.80. The company has a 50-day moving average price of $57.67 and a 200-day moving average price of $59.13.

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Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last issued its quarterly earnings results on Friday, August 5th. The information technology service provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. Cognizant Technology Solutions Corp. had a return on equity of 19.31% and a net margin of 11.65%. The company earned $3.37 billion during the quarter, compared to analyst estimates of $3.37 billion. During the same period in the previous year, the company earned $0.79 earnings per share. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, analysts predict that Cognizant Technology Solutions Corp. will post $3.37 earnings per share for the current fiscal year.
In other news, CEO Francisco Dsouza sold 200,000 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $57.69, for a total transaction of $11,538,000.00. Following the sale, the chief executive officer now owns 422,602 shares of the company’s stock, valued at $24,379,909.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Malcolm Frank sold 1,248 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $58.50, for a total value of $73,008.00. Following the sale, the vice president now directly owns 3,945 shares in the company, valued at approximately $230,782.50. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its stake in Cognizant Technology Solutions Corp. by 45.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 25,864,040 shares of the information technology service provider’s stock worth $1,480,458,000 after buying an additional 8,041,798 shares in the last quarter. Nordea Investment Management AB raised its stake in Cognizant Technology Solutions Corp. by 149.0% in the second quarter. Nordea Investment Management AB now owns 8,694,123 shares of the information technology service provider’s stock worth $497,652,000 after buying an additional 5,203,100 shares in the last quarter. Norges Bank acquired a new stake in Cognizant Technology Solutions Corp. during the fourth quarter worth approximately $276,403,000. Vontobel Asset Management Inc. raised its stake in Cognizant Technology Solutions Corp. by 139.4% in the first quarter. Vontobel Asset Management Inc. now owns 6,725,741 shares of the information technology service provider’s stock worth $428,145,000 after buying an additional 3,915,846 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Cognizant Technology Solutions Corp. by 86.3% in the first quarter. UBS Asset Management Americas Inc. now owns 5,569,598 shares of the information technology service provider’s stock worth $349,214,000 after buying an additional 2,579,619 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors.
About Cognizant Technology Solutions Corp.
Cognizant Technology Solutions Corporation is a provider of information technology (IT), consulting and business process services. The Company operates through four segments: Financial Services, which includes customers providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers, as well as life sciences customers, including pharmaceutical, biotech and medical device companies; Manufacturing, Retail and Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as customers providing logistics services, and Other, which includes communications, manufacturing/retail/logistics, and high technology.

To view Vetr’s full report, visit Vetr’s official website.

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