Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.
A number of other equities analysts have also commented on the stock. Bank of America cut their price target on shares of Cognizant Technology Solutions from $59.00 to $55.00 and set an “underperform” rating on the stock in a report on Wednesday, April 19th. BMO Capital Markets reduced their price target on Cognizant Technology Solutions from $73.00 to $70.00 in a research report on Thursday, May 4th. HSBC raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Thursday, May 4th. 51job reiterated a “reiterates” rating on shares of Cognizant Technology Solutions in a report on Thursday, May 4th. Finally, Wedbush restated an “outperform” rating and set a $75.00 price target on shares of Cognizant Technology Solutions in a report on Monday, March 13th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cognizant Technology Solutions currently has an average rating of “Hold” and a consensus price target of $68.21.
Cognizant Technology Solutions Stock Up 0.7 %
Shares of NASDAQ:CTSH opened at $62.60 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.18 and a current ratio of 2.18. Cognizant Technology Solutions has a 52-week low of $51.33 and a 52-week high of $74.18. The company has a market capitalization of $31.77 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. The company has a fifty day moving average of $61.35 and a 200-day moving average of $61.30.
Insider Transactions at Cognizant Technology Solutions
In other Cognizant Technology Solutions news, Director Zein Abdalla sold 6,926 shares of Cognizant Technology Solutions stock in a transaction on Monday, May 15th. The shares were sold at an average price of $62.55, for a total transaction of $433,221.30. Following the transaction, the director now directly owns 13,556 shares of the company’s stock, valued at approximately $847,927.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Zein Abdalla sold 6,926 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $62.55, for a total value of $433,221.30. Following the completion of the transaction, the director now directly owns 13,556 shares of the company’s stock, valued at $847,927.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Robert C. Walker sold 7,000 shares of Cognizant Technology Solutions stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $63.72, for a total value of $446,040.00. Following the sale, the executive vice president now owns 7,710 shares in the company, valued at $491,281.20. The disclosure for this sale can be found here. Insiders sold a total of 20,852 shares of company stock valued at $1,310,682 over the last ninety days. 0.27% of the stock is currently owned by insiders.
Institutional Trading of Cognizant Technology Solutions
A number of large investors have recently bought and sold shares of the company. MV Capital Management Inc. lifted its stake in shares of Cognizant Technology Solutions by 98.1% during the 1st quarter. MV Capital Management Inc. now owns 410 shares of the information technology service provider’s stock valued at $25,000 after buying an additional 203 shares in the last quarter. Neo Ivy Capital Management grew its position in shares of Cognizant Technology Solutions by 75.6% in the third quarter. Neo Ivy Capital Management now owns 504 shares of the information technology service provider’s stock valued at $29,000 after purchasing an additional 217 shares in the last quarter. Vigilant Capital Management LLC bought a new stake in shares of Cognizant Technology Solutions during the 1st quarter valued at $37,000. Harvest Fund Management Co. Ltd lifted its holdings in Cognizant Technology Solutions by 613.9% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 721 shares of the information technology service provider’s stock worth $41,000 after purchasing an additional 620 shares in the last quarter. Finally, CoreCap Advisors LLC bought a new position in Cognizant Technology Solutions in the 4th quarter worth about $42,000. 90.12% of the stock is owned by hedge funds and other institutional investors.
About Cognizant Technology Solutions
Cognizant Technology Solutions Corp. engages in the provision of information technology, consulting, and business process outsourcing services. It operates through the following business segments: Financial Services, Healthcare, Products and Resources, and Communications, Media, and Technology. The Financial Services segment consists of banking and insurance services.
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