Barclays Trims Cognizant Technology Solutions (NASDAQ:CTSH) Target Price to $75.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price reduced by investment analysts at Barclays from $80.00 to $75.00 in a report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the information technology service provider’s stock. Barclays‘s price target indicates a potential upside of 11.74% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Guggenheim assumed coverage on Cognizant Technology Solutions in a research note on Tuesday, March 19th. They set a “neutral” rating and a $80.00 target price on the stock. Evercore ISI lifted their target price on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Societe Generale reaffirmed a “sell” rating and set a $67.00 target price on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. Susquehanna reaffirmed a “neutral” rating and set a $80.00 target price (down previously from $87.00) on shares of Cognizant Technology Solutions in a research note on Monday, April 1st. Finally, Wolfe Research raised Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus target price of $76.13.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock traded up $0.36 during midday trading on Friday, hitting $67.12. The company’s stock had a trading volume of 298,442 shares, compared to its average volume of 4,248,542. The stock’s 50-day moving average price is $73.72 and its 200-day moving average price is $72.51. The company has a market capitalization of $33.42 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 1.54 and a beta of 1.06. Cognizant Technology Solutions has a 12 month low of $58.47 and a 12 month high of $80.09. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.14. The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.76 billion. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. Cognizant Technology Solutions’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. Analysts anticipate that Cognizant Technology Solutions will post 4.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the sale, the executive vice president now owns 8,312 shares in the company, valued at $640,522.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Hedge funds have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC raised its position in shares of Cognizant Technology Solutions by 26.5% during the third quarter. Exchange Traded Concepts LLC now owns 773 shares of the information technology service provider’s stock worth $52,000 after purchasing an additional 162 shares during the period. CX Institutional grew its holdings in shares of Cognizant Technology Solutions by 6.2% during the third quarter. CX Institutional now owns 4,076 shares of the information technology service provider’s stock worth $276,000 after buying an additional 238 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Cognizant Technology Solutions by 14.2% during the third quarter. UMB Bank n.a. now owns 1,711 shares of the information technology service provider’s stock worth $116,000 after buying an additional 213 shares in the last quarter. Czech National Bank grew its holdings in shares of Cognizant Technology Solutions by 46.9% during the third quarter. Czech National Bank now owns 88,270 shares of the information technology service provider’s stock worth $5,979,000 after buying an additional 28,194 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Cognizant Technology Solutions by 26.9% during the third quarter. Handelsbanken Fonder AB now owns 95,821 shares of the information technology service provider’s stock worth $6,491,000 after buying an additional 20,333 shares in the last quarter. Institutional investors and hedge funds 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.