Cognizant Technology Solutions Corporation (CTSH) Cut to Buy at Vetr Inc., Report finds

Cognizant Technology Solutions Corporation (CTSH) Cut to Buy at Vetr Inc., Report finds

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday. They currently have a $62.84 target price on the information technology service provider’s stock. Vetr‘s target price suggests a potential upside of 11.32% from the company’s current price.

Other research analysts also recently issued reports about the company. Deutsche Bank AG reissued a “buy” rating on shares of Cognizant Technology Solutions Corporation in a research note on Tuesday, November 8th. Cantor Fitzgerald reissued a “buy” rating and issued a $68.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Tuesday, November 8th. Needham & Company LLC dropped their price objective on Cognizant Technology Solutions Corporation from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, November 7th. Jefferies Group LLC reissued a “buy” rating and issued a $63.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, November 30th. Finally, Zacks Investment Research raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Monday, January 9th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. Cognizant Technology Solutions Corporation has a consensus rating of “Buy” and a consensus price target of $64.92.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 4.95% during trading on Wednesday, reaching $56.45. The company’s stock had a trading volume of 20,858,317 shares. The firm has a 50 day moving average price of $55.84 and a 200-day moving average price of $55.02. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $63.23. The stock has a market cap of $34.25 billion, a price-to-earnings ratio of 22.05 and a beta of 1.28.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, February 8th. The information technology service provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. Cognizant Technology Solutions Corporation had a return on equity of 19.42% and a net margin of 11.78%. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same quarter in the previous year, the company posted $0.80 EPS. The business’s revenue was up 7.1% on a year-over-year basis. On average, analysts expect that Cognizant Technology Solutions Corporation will post $3.35 earnings per share for the current year.

In related news, CFO Karen Mcloughlin sold 1,873 shares of the stock in a transaction on Monday, November 28th. The stock was sold at an average price of $58.16, for a total value of $108,933.68. Following the sale, the chief financial officer now owns 40,741 shares in the company, valued at $2,369,496.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Malcolm Frank sold 666 shares of the stock in a transaction on Monday, December 5th. The stock was sold at an average price of $54.67, for a total value of $36,410.22. Following the completion of the sale, the vice president now owns 4,520 shares in the company, valued at approximately $247,108.40. The disclosure for this sale can be found here. Insiders sold 57,466 shares of company stock worth $3,201,816 in the last quarter. 0.81% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of the company. Wetherby Asset Management Inc. increased its stake in shares of Cognizant Technology Solutions Corporation by 11.8% in the fourth quarter. Wetherby Asset Management Inc. now owns 8,696 shares of the information technology service provider’s stock worth $488,000 after buying an additional 920 shares during the period. Burney Co. increased its stake in shares of Cognizant Technology Solutions Corporation by 2.0% in the fourth quarter. Burney Co. now owns 23,881 shares of the information technology service provider’s stock worth $1,338,000 after buying an additional 458 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Cognizant Technology Solutions Corporation by 0.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 874,311 shares of the information technology service provider’s stock worth $48,988,000 after buying an additional 5,268 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in shares of Cognizant Technology Solutions Corporation by 53.3% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 41,861 shares of the information technology service provider’s stock worth $2,345,000 after buying an additional 14,551 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of Cognizant Technology Solutions Corporation by 23.7% in the fourth quarter. Bessemer Group Inc. now owns 2,707,471 shares of the information technology service provider’s stock worth $151,699,000 after buying an additional 518,778 shares during the period. Institutional investors own 84.81% of the company’s stock.

About Cognizant Technology Solutions Corporation

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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Cognizant Technology Solutions Corporation (CTSH) Cut to Buy at Vetr Inc.

Cognizant Technology Solutions Corporation (CTSH) Cut to Buy at Vetr Inc.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday. They currently have a $62.84 target price on the information technology service provider’s stock. Vetr‘s target price suggests a potential upside of 11.32% from the company’s current price.

Other research analysts also recently issued reports about the company. Deutsche Bank AG reissued a “buy” rating on shares of Cognizant Technology Solutions Corporation in a research note on Tuesday, November 8th. Cantor Fitzgerald reissued a “buy” rating and issued a $68.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Tuesday, November 8th. Needham & Company LLC dropped their price objective on Cognizant Technology Solutions Corporation from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, November 7th. Jefferies Group LLC reissued a “buy” rating and issued a $63.00 price objective on shares of Cognizant Technology Solutions Corporation in a research note on Wednesday, November 30th. Finally, Zacks Investment Research raised Cognizant Technology Solutions Corporation from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Monday, January 9th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. Cognizant Technology Solutions Corporation has a consensus rating of “Buy” and a consensus price target of $64.92.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 4.95% during trading on Wednesday, reaching $56.45. The company’s stock had a trading volume of 20,858,317 shares. The firm has a 50 day moving average price of $55.84 and a 200-day moving average price of $55.02. Cognizant Technology Solutions Corporation has a 52-week low of $45.44 and a 52-week high of $63.23. The stock has a market cap of $34.25 billion, a price-to-earnings ratio of 22.05 and a beta of 1.28.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, February 8th. The information technology service provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. Cognizant Technology Solutions Corporation had a return on equity of 19.42% and a net margin of 11.78%. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same quarter in the previous year, the company posted $0.80 EPS. The business’s revenue was up 7.1% on a year-over-year basis. On average, analysts expect that Cognizant Technology Solutions Corporation will post $3.35 earnings per share for the current year.

In related news, CFO Karen Mcloughlin sold 1,873 shares of the stock in a transaction on Monday, November 28th. The stock was sold at an average price of $58.16, for a total value of $108,933.68. Following the sale, the chief financial officer now owns 40,741 shares in the company, valued at $2,369,496.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Malcolm Frank sold 666 shares of the stock in a transaction on Monday, December 5th. The stock was sold at an average price of $54.67, for a total value of $36,410.22. Following the completion of the sale, the vice president now owns 4,520 shares in the company, valued at approximately $247,108.40. The disclosure for this sale can be found here. Insiders sold 57,466 shares of company stock worth $3,201,816 in the last quarter. 0.81% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of the company. Wetherby Asset Management Inc. increased its stake in shares of Cognizant Technology Solutions Corporation by 11.8% in the fourth quarter. Wetherby Asset Management Inc. now owns 8,696 shares of the information technology service provider’s stock worth $488,000 after buying an additional 920 shares during the period. Burney Co. increased its stake in shares of Cognizant Technology Solutions Corporation by 2.0% in the fourth quarter. Burney Co. now owns 23,881 shares of the information technology service provider’s stock worth $1,338,000 after buying an additional 458 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Cognizant Technology Solutions Corporation by 0.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 874,311 shares of the information technology service provider’s stock worth $48,988,000 after buying an additional 5,268 shares during the period. Commerzbank Aktiengesellschaft FI increased its stake in shares of Cognizant Technology Solutions Corporation by 53.3% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 41,861 shares of the information technology service provider’s stock worth $2,345,000 after buying an additional 14,551 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of Cognizant Technology Solutions Corporation by 23.7% in the fourth quarter. Bessemer Group Inc. now owns 2,707,471 shares of the information technology service provider’s stock worth $151,699,000 after buying an additional 518,778 shares during the period. Institutional investors own 84.81% of the company’s stock.

About Cognizant Technology Solutions Corporation

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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