TD Cowen Boosts Cognizant Technology Solutions (NASDAQ:CTSH) Price Target to $76.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target hoisted by stock analysts at TD Cowen from $75.00 to $76.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “hold” rating on the information technology service provider’s stock. TD Cowen’s price target would indicate a potential upside of 0.16% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Royal Bank of Canada boosted their price target on Cognizant Technology Solutions from $81.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 28th. Bank of America raised Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and upped their target price for the company from $73.00 to $75.00 in a research report on Wednesday, August 7th. The Goldman Sachs Group reiterated a “neutral” rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a research note on Thursday, September 12th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday. Finally, StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, twenty have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.60.

Cognizant Technology Solutions Stock Up 2.1 %

Shares of CTSH stock traded up $1.53 during trading hours on Thursday, reaching $75.88. The company had a trading volume of 2,965,702 shares, compared to its average volume of 3,811,050. The company has a market capitalization of $37.61 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. 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 has a twelve month low of $62.14 and a twelve month high of $80.27. The stock’s fifty day simple moving average is $76.43 and its 200 day simple moving average is $71.93.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. The business had revenue of $5.04 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 earnings per share. As a group, sell-side analysts expect that Cognizant Technology Solutions will post 4.62 earnings per share for the current fiscal year.

Insider Activity at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total value of $495,584.48. Following the sale, the chief executive officer now owns 46,427 shares in the company, valued at approximately $3,419,812.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. bought a new position in shares of Cognizant Technology Solutions in the second quarter worth $25,000. LRI Investments LLC bought a new position in Cognizant Technology Solutions in the 1st quarter valued at about $28,000. Pinnacle Bancorp Inc. increased its stake in Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock valued at $35,000 after buying an additional 146 shares during the period. Benjamin Edwards Inc. increased its stake in Cognizant Technology Solutions by 42.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock valued at $36,000 after buying an additional 158 shares during the period. Finally, Eastern Bank bought a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth about $37,000. 92.44% of the stock is owned by institutional investors.

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.