Brokerage firms covering Cognizant Technology Solutions Corporation are projecting that the stock will reach $70.166 over the next 52-weeks. The consensus target price stands at $70.26. Revenue is expected to rise 23% to $215.6 million. 2,665,290 shares of the company’s stock were exchanged. The 50-day moving average is $61.7 and the 200 day moving average is recorded at $61.32. The shares were sold at an average price of $63.75, for a total transaction of $318,750.00. Also, CFO Karen Mcloughlin sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 12th.
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Now the company Insiders own 0.3% of Cognizant Technology Solutions Corporation Company shares. The disclosure for this sale can be found here. Cognizant follows January-December as its fiscal year.
Cognizant Technology Solutions Corp (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, August 5th. Non-GAAP diluted earnings per share was $0.79 compared to $0.66 in the second quarter of 2014.
Cognizant investors celebrated the company’s report, sending the stock up by more than 6% in the first two hours of pre-market trading after the announcement.
For the year, the New Jersey-based company raised its forecast for adjusted per-share earnings to $3 from its earlier view of $2.93.
Analysts on average were expecting a profit $2.97 per share and revenue of $12.32 billion for the full year, according to Thomson Reuters I/B/E/S.
A number of analysts recently weighed in on the stock.
Cognizant Technology Solutions Corporation (CTSH:NASDAQ) dropped slightly amid mild profit booking and the last known price was $63.01 per share. Finally, Jefferies Group reaffirmed a “buy” rating and set a $73.00 target price (up previously from $63.00) on shares of Cognizant Technology Solutions Corp in a research note on Saturday, May 9th. On a consensus basis this yields to a Buy rating.
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The company said in May it expected its healthcare business to drive growth this year, helped by its acquisition of healthcare IT services provider TriZetto Corp and the implementation of the US Affordable Care Act, or Obamacare. The Businesses competences include business, process, processes and IT consulting, application development and systems integration, enterprise information management (EIM), program testing, application maintenance, IT infrastructure services (IT’S) and business process services (BPS). It supplies a range of consulting, information technology and outsourcing services, including consulting and technology services, and outsourcing services.
