Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Raised to $84.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price hoisted by equities research analysts at Mizuho from $83.00 to $84.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the information technology service provider’s stock. Mizuho’s target price would suggest a potential upside of 13.07% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Bank of America upgraded Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $73.00 to $75.00 in a research note on Wednesday, August 7th. Jefferies Financial Group initiated coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They set a “buy” rating and a $90.00 price objective for the company. The Goldman Sachs Group restated a “neutral” rating and issued a $76.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Royal Bank of Canada increased their price objective on Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday. One research analyst has rated the stock with a sell rating, twenty have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions has a consensus rating of “Hold” and a consensus target price of $77.70.

Cognizant Technology Solutions Trading Down 0.4 %

Shares of NASDAQ CTSH traded down $0.30 during trading hours on Friday, reaching $74.29. The stock had a trading volume of 1,733,574 shares, compared to its average volume of 3,815,914. Cognizant Technology Solutions has a 52-week low of $62.14 and a 52-week high of $80.27. The firm has a market cap of $36.82 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 2.09 and a beta of 1.05. The business’s fifty day moving average price is $76.40 and its two-hundred day moving average price is $71.94. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.11. The business had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a return on equity of 17.37% and a net margin of 11.60%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 EPS. Analysts expect that Cognizant Technology Solutions will post 4.62 EPS for the current fiscal year.

Insider Buying and Selling

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the sale, the chief executive officer now owns 46,427 shares in the company, valued at approximately $3,419,812.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of hedge funds have recently bought and sold shares of the business. Pinnacle Bancorp Inc. raised its stake in shares of Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after buying an additional 146 shares during the period. Benjamin Edwards Inc. lifted its holdings in Cognizant Technology Solutions by 42.1% during the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after purchasing an additional 158 shares in the last quarter. Choate Investment Advisors increased its stake in shares of Cognizant Technology Solutions by 0.4% during the first quarter. Choate Investment Advisors now owns 48,552 shares of the information technology service provider’s stock worth $3,558,000 after purchasing an additional 180 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in Cognizant Technology Solutions by 1.8% during the third quarter. V Square Quantitative Management LLC now owns 11,169 shares of the information technology service provider’s stock worth $862,000 after purchasing an additional 194 shares in the last quarter. Finally, First Personal Financial Services raised its holdings in shares of Cognizant Technology Solutions by 0.6% in the 2nd quarter. First Personal Financial Services now owns 34,893 shares of the information technology service provider’s stock valued at $2,373,000 after buying an additional 195 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Cognizant Technology Solutions Company Profile

Cognizant Technology Solutions Corporation, a professional services company, provides consulting and technology, and outsourcing services in North America, Europe, and internationally. It operates through four segments: Financial Services, Health Sciences, Products and Resources, and Communications, Media and Technology.