Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Lowered to $88.00 at UBS Group

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target cut by research analysts at UBS Group from $93.00 to $88.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the information technology service provider’s stock. UBS Group’s target price would indicate a potential upside of 10.20% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada raised their target price on shares of Cognizant Technology Solutions from $82.00 to $93.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Cognizant Technology Solutions in a report on Thursday, February 6th. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Morgan Stanley reduced their target price on Cognizant Technology Solutions from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Finally, Barclays upped their price objective on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Sixteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $83.50.

Cognizant Technology Solutions Price Performance

Shares of CTSH stock traded up $0.74 during trading hours on Monday, hitting $79.86. 396,776 shares of the company’s stock were exchanged, compared to its average volume of 3,722,313. Cognizant Technology Solutions has a 12-month low of $63.79 and a 12-month high of $90.82. The company has a market capitalization of $39.50 billion, a PE ratio of 17.70, a PEG ratio of 2.11 and a beta of 1.12. The business’s 50 day simple moving average is $82.38 and its 200-day simple moving average is $79.42. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. On average, equities research analysts anticipate that Cognizant Technology Solutions will post 4.98 earnings per share for the current year.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Retirement Systems of Alabama grew its stake in shares of Cognizant Technology Solutions by 3.5% in the 3rd quarter. Retirement Systems of Alabama now owns 1,187,850 shares of the information technology service provider’s stock worth $91,678,000 after buying an additional 40,226 shares in the last quarter. CGN Advisors LLC purchased a new position in Cognizant Technology Solutions in the fourth quarter worth about $1,294,000. ICICI Prudential Asset Management Co Ltd increased its stake in Cognizant Technology Solutions by 50.7% during the fourth quarter. ICICI Prudential Asset Management Co Ltd now owns 429,660 shares of the information technology service provider’s stock worth $33,041,000 after acquiring an additional 144,535 shares during the last quarter. Todd Asset Management LLC raised its position in Cognizant Technology Solutions by 24.4% during the fourth quarter. Todd Asset Management LLC now owns 436,509 shares of the information technology service provider’s stock valued at $33,568,000 after purchasing an additional 85,539 shares during the period. Finally, Matthews International Capital Management LLC lifted its stake in shares of Cognizant Technology Solutions by 52.0% in the 4th quarter. Matthews International Capital Management LLC now owns 50,108 shares of the information technology service provider’s stock valued at $3,853,000 after purchasing an additional 17,134 shares during the last quarter. 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.