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

The 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.

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