Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) had its target price lifted by research analysts at BMO Capital Markets from $65.00 to $71.00 in a research report issued to clients and investors on Friday, The Fly reports. BMO Capital Markets’ target price points to a potential upside of 9.06% from the company’s current price.
A number of other analysts have also recently weighed in on CTSH. Societe Generale cut shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating and set a $70.00 price objective on the stock. in a report on Thursday, November 3rd. Wolfe Research lowered shares of Cognizant Technology Solutions from a “peer perform” rating to an “underperform” rating and set a $49.00 target price on the stock. in a research report on Thursday, January 5th. TheStreet lowered shares of Cognizant Technology Solutions from a “b-” rating to a “c+” rating in a research report on Thursday, September 29th. StockNews.com started coverage on shares of Cognizant Technology Solutions in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada lowered shares of Cognizant Technology Solutions from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $78.00 to $66.00 in a research report on Thursday, November 3rd. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $69.84.
Cognizant Technology Solutions Trading Up 5.9 %
Shares of CTSH opened at $65.10 on Friday. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions has a 12-month low of $51.33 and a 12-month high of $93.47. The firm has a 50-day moving average price of $58.31 and a 200 day moving average price of $62.12. The firm has a market capitalization of $33.46 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.16 and a beta of 1.05.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.17. Cognizant Technology Solutions had a net margin of 12.11% and a return on equity of 19.55%. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Sell-side analysts forecast that Cognizant Technology Solutions will post 4.46 EPS for the current year.
In other news, Director Leo S. Jr. Mackay sold 3,300 shares of the stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $52.79, for a total transaction of $174,207.00. Following the transaction, the director now owns 28,310 shares of the company’s stock, valued at approximately $1,494,484.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in Cognizant Technology Solutions by 11.9% in the 3rd quarter. BlackRock Inc. now owns 54,965,447 shares of the information technology service provider’s stock valued at $3,157,215,000 after buying an additional 5,858,080 shares during the last quarter. Boston Partners grew its holdings in Cognizant Technology Solutions by 19.1% in the 3rd quarter. Boston Partners now owns 9,693,839 shares of the information technology service provider’s stock valued at $557,475,000 after buying an additional 1,555,231 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Cognizant Technology Solutions by 6,635.8% in the 3rd quarter. Pacer Advisors Inc. now owns 1,090,799 shares of the information technology service provider’s stock valued at $62,655,000 after buying an additional 1,074,605 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Cognizant Technology Solutions by 175.2% in the 2nd quarter. Lazard Asset Management LLC now owns 1,503,004 shares of the information technology service provider’s stock valued at $101,436,000 after buying an additional 956,946 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Cognizant Technology Solutions by 13.2% in the 3rd quarter. Alliancebernstein L.P. now owns 7,430,266 shares of the information technology service provider’s stock valued at $426,794,000 after buying an additional 865,943 shares during the last quarter. Institutional investors and hedge funds own 90.12% 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; Healthcare; Products and Resources; and Communications, Media and Technology.
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