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

Cognizant Technology Solutions Corporation (CTSH) Rating Lowered 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 to investors on Wednesday. They currently have a $64.12 target price on the information technology service provider’s stock. Vetr‘s target price would indicate a potential upside of 11.80% from the stock’s previous close.

CTSH has been the topic of a number of other reports. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $68.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Tuesday, November 8th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $69.00 target price on shares of Cognizant Technology Solutions Corporation in a research report on Friday, October 21st. Bank of America Corporation downgraded shares of Cognizant Technology Solutions Corporation from a “buy” rating to an “underperform” rating in a research report on Tuesday, November 22nd. Loop Capital started coverage on shares of Cognizant Technology Solutions Corporation in a research report on Tuesday, January 10th. They issued a “hold” rating and a $60.00 target price on the stock. Finally, Societe Generale started coverage on shares of Cognizant Technology Solutions Corporation in a research report on Monday, September 26th. They issued a “buy” rating and a $68.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $65.39.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) traded up 1.38% on Wednesday, hitting $57.36. 3,970,503 shares of the company were exchanged. Cognizant Technology Solutions Corporation has a 52 week low of $45.44 and a 52 week high of $63.43. The stock has a market capitalization of $34.80 billion, a P/E ratio of 22.41 and a beta of 1.33. The company has a 50 day moving average price of $56.31 and a 200-day moving average price of $55.34.

Cognizant Technology Solutions Corporation (NASDAQ:CTSH) last issued its quarterly earnings data on Monday, November 7th. The information technology service provider reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.02. The business had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.46 billion. Cognizant Technology Solutions Corporation had a net margin of 11.78% and a return on equity of 19.42%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 EPS. On average, equities analysts expect that Cognizant Technology Solutions Corporation will post $3.35 earnings per share for the current fiscal year.

In related news, insider Gajakarnan Vibushanan Kandiah sold 20,000 shares of the firm’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $55.53, for a total value of $1,110,600.00. Following the completion of the sale, the insider now directly owns 32,072 shares in the company, valued at $1,780,958.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Allen Shaheen sold 3,709 shares of the firm’s stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $54.33, for a total value of $201,509.97. Following the completion of the sale, the executive vice president now owns 2,171 shares of the company’s stock, valued at $117,950.43. The disclosure for this sale can be found here. 0.81% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the company. Virtus Investment Advisers Inc. acquired a new stake in Cognizant Technology Solutions Corporation during the third quarter valued at $132,000. SRB Corp acquired a new stake in Cognizant Technology Solutions Corporation during the third quarter valued at $136,000. Pinkerton Retirement Specialists LLC acquired a new stake in Cognizant Technology Solutions Corporation during the second quarter valued at $166,000. Washington Trust Bank increased its stake in Cognizant Technology Solutions Corporation by 94.5% in the third quarter. Washington Trust Bank now owns 3,479 shares of the information technology service provider’s stock valued at $166,000 after buying an additional 1,690 shares during the period. Finally, Cornerstone Advisors Inc. increased its stake in Cognizant Technology Solutions Corporation by 1,207.9% in the third quarter. Cornerstone Advisors Inc. now owns 3,479 shares of the information technology service provider’s stock valued at $166,000 after buying an additional 3,213 shares during the period. Institutional investors own 83.48% of the company’s stock.

Cognizant Technology Solutions Corporation Company Profile

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.

Related posts

Leave a Comment