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

by · The Markets Daily

Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) had its target price hoisted by research analysts at Deutsche Bank Aktiengesellschaft from $70.00 to $80.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the information technology service provider’s stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 5.29% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on CTSH. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research note on Tuesday, August 27th. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird increased their price target on shares of Cognizant Technology Solutions from $75.00 to $78.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada lifted their price objective on shares of 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, Bank of America upgraded shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $73.00 to $75.00 in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $77.58.

View Our Latest Stock Report on Cognizant Technology Solutions

Cognizant Technology Solutions Trading Down 1.2 %

Shares of NASDAQ CTSH traded down $0.89 during mid-day trading on Tuesday, reaching $75.98. 614,549 shares of the company’s stock were exchanged, compared to its average volume of 3,804,340. The firm has a market capitalization of $37.78 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 2.16 and a beta of 1.05. Cognizant Technology Solutions has a 52-week low of $62.14 and a 52-week high of $80.27. The company’s 50-day moving average is $76.46 and its 200-day moving average is $71.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. The business had revenue of $4.85 billion for the quarter, compared to the consensus estimate of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.10 EPS. Analysts expect that Cognizant Technology Solutions will post 4.62 EPS for the current fiscal year.

Insider Transactions at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total transaction of $495,584.48. Following the transaction, the chief executive officer now owns 46,427 shares of the company’s stock, valued at $3,419,812.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CTSH. Greenleaf Trust lifted its holdings in shares of Cognizant Technology Solutions by 4.9% during the third quarter. Greenleaf Trust now owns 6,326 shares of the information technology service provider’s stock worth $488,000 after purchasing an additional 296 shares during the period. Tempus Wealth Planning LLC lifted its stake in shares of Cognizant Technology Solutions by 14.8% in the 3rd quarter. Tempus Wealth Planning LLC now owns 5,547 shares of the information technology service provider’s stock worth $428,000 after acquiring an additional 716 shares during the period. Stanley Laman Group Ltd. purchased a new stake in shares of Cognizant Technology Solutions in the third quarter valued at about $386,000. RBA Wealth Management LLC increased its stake in shares of Cognizant Technology Solutions by 3.2% during the third quarter. RBA Wealth Management LLC now owns 54,997 shares of the information technology service provider’s stock worth $4,245,000 after acquiring an additional 1,717 shares during the period. Finally, Leo Wealth LLC raised its holdings in Cognizant Technology Solutions by 16.9% during the third quarter. Leo Wealth LLC now owns 13,525 shares of the information technology service provider’s stock worth $1,044,000 after purchasing an additional 1,955 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other institutional investors.

About Cognizant Technology Solutions

(Get Free Report)

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.

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