Cognizant Technology Solutions (NASDAQ:CTSH) PT Raised to $80.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective lifted by investment analysts at Barclays from $75.00 to $80.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the information technology service provider’s stock. Barclays‘s price target points to a potential upside of 10.06% from the stock’s previous close.

Several other analysts have also commented on CTSH. Citigroup decreased their price objective on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating for the company in a report on Monday, April 22nd. The Goldman Sachs Group initiated coverage on Cognizant Technology Solutions in a report on Monday, June 24th. They set a “neutral” rating and a $72.00 price objective for the company. BMO Capital Markets cut their target price on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 30th. Susquehanna cut their target price on Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Finally, Mizuho reissued a “neutral” rating and issued a $82.00 target price on shares of Cognizant Technology Solutions in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $75.75.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock opened at $72.69 on Tuesday. The stock’s 50-day simple moving average is $68.54 and its 200-day simple moving average is $71.87. Cognizant Technology Solutions has a 52 week low of $62.14 and a 52 week high of $80.09. The company has a market capitalization of $36.14 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 2.25 and a beta of 1.05. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.04.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The company had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same period in the previous year, the business earned $1.11 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, analysts expect that Cognizant Technology Solutions will post 4.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. IFG Advisory LLC grew its stake in Cognizant Technology Solutions by 45.1% during the 4th quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock worth $5,070,000 after buying an additional 20,874 shares during the last quarter. Vanguard Group Inc. grew its stake in Cognizant Technology Solutions by 17.0% during the 4th quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after buying an additional 7,445,089 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Cognizant Technology Solutions by 7.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 532,677 shares of the information technology service provider’s stock worth $39,242,000 after buying an additional 38,526 shares during the last quarter. Merit Financial Group LLC grew its stake in Cognizant Technology Solutions by 16.8% during the 4th quarter. Merit Financial Group LLC now owns 3,523 shares of the information technology service provider’s stock worth $266,000 after buying an additional 508 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Cognizant Technology Solutions in the fourth quarter worth $1,786,000. 92.44% of the stock is currently owned by institutional investors.

About Cognizant Technology Solutions

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.