Cognizant Rating Increased to Outperform at Robert W. Baird (CTSH)
Cognizant (NASDAQ: CTSH) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $76.00 price target on the stock.
A number of other analysts have also recently weighed in on CTSH. Analysts at Needham & Company downgraded shares of Cognizant from a “strong-buy” rating to a “buy” rating in a research note to investors on Monday. They now have a $80.00 price target on the stock, down previously from $100.00. Finally, analysts at Morgan Stanley (NYSE: MS) reiterated an “equal weight” rating on shares of Cognizant in a research note to investors on Friday, April 13rd.
Shares of Cognizant traded up 0.13% during mid-day trading on Tuesday, hitting $60.38. Cognizant has a 52 week low of $53.54 and a 52 week high of $83.48. The company has a market cap of $18.321 billion and a P/E ratio of 20.30.
Cognizant last announced its earnings results on Monday, May 7th. The company reported $0.86 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.79 by $0.07. Cognizant’s revenue was up 24.8% compared to the same quarter last year. On average, analysts predict that Cognizant will post $0.87 earnings per share next quarter.
Cognizant Technology Solutions Corporation is a provider of custom information technology (IT) consulting and technology services, and outsourcing services.