Pacific Crest Initiates Coverage on Cognizant Technology Solutions Corp to Overweight

Pacific Crest Initiates Coverage on Cognizant Technology Solutions Corp(NASDAQ:CTSH). The shares have been rated Overweight. The rating by Pacific Crest was issued on Jul 12, 2016.

In a different note, On Jul 12, 2016, SunTrust Robinson Humphrey said it Downgrades its rating on Cognizant Technology Solutions Corp. The shares have been rated ‘Neutral’ by the firm. On Jul 7, 2016, Barclays said it Maintains its rating on Cognizant Technology Solutions Corp. In the research note, the firm Lowers the price-target to $70.00 per share. The shares have been rated ‘Overweight’ by the firm.

Cognizant Technology Solutions Corp (CTSH) shares turned negative on Fridays trading session with the shares closing down -1.18 points or -2.00% at a volume of 63,36,358. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $58.07. The peak price level was also seen at $58.07 while the days lowest was $56.52. Finally the shares closed at $57.76. The 52-week high of the shares is $69.8 while the 52-week low is $51.22. According to the latest information available, the market cap of the company is $34,995 M.

Cognizant Technology Solutions Corp(CTSH) last announced its earnings results on May 6, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $3.20B. Analysts had an estimated revenue of $3.22B. Earnings per share were $0.80. Analysts had estimated an EPS of $0.79.

Several Insider Transactions has been reported to the SEC. On Jun 22, 2016, Karen Mcloughlin (Chief Financial Officer) sold 8,018 shares at $61.13 per share price.Also, On Jun 9, 2016, Malcolm Frank (Exec. VP, Strategy & Marketing) sold 583 shares at $60.60 per share price.On Jun 9, 2016, Steven Schwartz (EVP, Chief Legal & CAO.) sold 527 shares at $60.61 per share price, according to the Form-4 filing with the securities and exchange commission.

Cognizant Technology Solutions Corporation is a provider of information technology (IT) consulting and business process services. The Company operates in four segments: Financial Services segment which include banking and insurance; Healthcare segment which includes healthcare and life sciences and Manufacturing/Retail/Logistics segment which includes manufacturing and logistics; retail travel and hospitality and consumer goods and Other segment which includes Communications Manufacturing/Retail/Logistics and High Technology. The Companies competencies include business process operations and IT consulting application development and systems integration enterprise information management (EIM) application testing application maintenance IT infrastructure services (IT IS) and business process services (BPS). It provides a range of consulting information technology and outsourcing services including consulting and technology services and outsourcing services.

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