Latest Stocks: Needham & Company LLC Raises Cognizant Technology Solutions Corp (CTSH) Price Target to $72.00

Latest Stocks: Needham & Company LLC Raises Cognizant Technology Solutions Corp (CTSH) Price Target to $72.00

Cognizant Technology Solutions Corp (NASDAQ:CTSH) had its price target increased by analysts at Needham & Company LLC from $70.00 to $72.00 in a research note issued on Monday, May 15th. The brokerage currently has a “buy” rating on the information technology service provider’s stock. Needham & Company LLC’s target price indicates a potential upside of 6.57% from the company’s current price.

A number of other research firms also recently commented on CTSH. Robert W. Baird raised their price objective on shares of Cognizant Technology Solutions Corp from $70.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, May 8th. Credit Suisse Group AG set a $70.00 price target on shares of Cognizant Technology Solutions Corp and gave the company a “buy” rating in a report on Saturday, May 6th. Morgan Stanley boosted their target price on shares of Cognizant Technology Solutions Corp from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, May 8th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $67.00 target price on shares of Cognizant Technology Solutions Corp in a research note on Friday, May 5th. Finally, Vetr downgraded shares of Cognizant Technology Solutions Corp from a “strong-buy” rating to a “buy” rating and set a $67.50 target price for the company. in a research note on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. Cognizant Technology Solutions Corp presently has a consensus rating of “Buy” and an average target price of $64.25.

Shares of Cognizant Technology Solutions Corp (NASDAQ CTSH) opened at 67.56 on Monday. The stock’s 50 day moving average price is $63.04 and its 200-day moving average price is $58.59. Cognizant Technology Solutions Corp has a 52-week low of $45.44 and a 52-week high of $67.88. The firm has a market cap of $39.79 billion, a PE ratio of 24.58 and a beta of 1.28.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) last released its quarterly earnings data on Friday, May 5th. The information technology service provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.52 billion. Cognizant Technology Solutions Corp had a net margin of 11.52% and a return on equity of 18.83%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. On average, equities research analysts anticipate that Cognizant Technology Solutions Corp will post $3.66 earnings per share for the current fiscal year. The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 31st. Shareholders of record on Tuesday, May 23rd were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.89%. The ex-dividend date was Thursday, May 18th.

Cognizant Technology Solutions Corp (NASDAQ:CTSH) last released its quarterly earnings data on Friday, May 5th. The information technology service provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.52 billion. Cognizant Technology Solutions Corp had a net margin of 11.52% and a return on equity of 18.83%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. On average, equities research analysts anticipate that Cognizant Technology Solutions Corp will post $3.66 earnings per share for the current fiscal year. In other news, EVP Venkat Krishnaswamy sold 9,243 shares of Cognizant Technology Solutions Corp stock in a transaction on Monday, March 13th. The stock was sold at an average price of $59.21, for a total transaction of $547,278.03. Following the sale, the executive vice president now directly owns 28,410 shares in the company, valued at approximately $1,682,156.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Srinivasan Veeraraghavachary sold 12,000 shares of Cognizant Technology Solutions Corp stock in a transaction on Monday, May 8th. The stock was sold at an average price of $62.50, for a total value of $750,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,769 shares of company stock worth $2,625,698. Company insiders own 0.81% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Massey Quick & Co. LLC acquired a new position in shares of Cognizant Technology Solutions Corp during the fourth quarter valued at approximately $112,000. Virtus Investment Advisers Inc. purchased a new stake in shares of Cognizant Technology Solutions Corp during the third quarter valued at about $132,000. SRB Corp purchased a new stake in shares of Cognizant Technology Solutions Corp during the third quarter valued at about $136,000. Guardian Life Insurance Co. of America raised its stake in shares of Cognizant Technology Solutions Corp by 1.2% in the first quarter. Guardian Life Insurance Co. of America now owns 2,351 shares of the information technology service provider’s stock valued at $140,000 after buying an additional 27 shares in the last quarter. Finally, Assetmark Inc. raised its stake in shares of Cognizant Technology Solutions Corp by 24.2% in the first quarter. Assetmark Inc. now owns 2,592 shares of the information technology service provider’s stock valued at $154,000 after buying an additional 505 shares in the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds. Cognizant Technology Solutions Corp Company Profile

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