Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Raised to $93.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price upped by equities researchers at Royal Bank of Canada from $82.00 to $93.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the information technology service provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 7.04% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. StockNews.com downgraded shares of Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Mizuho lifted their price target on shares of Cognizant Technology Solutions from $83.00 to $84.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday. Finally, BMO Capital Markets lifted their target price on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research note on Thursday. Seventeen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $83.22.

Cognizant Technology Solutions Trading Up 3.9 %

Shares of NASDAQ:CTSH traded up $3.28 during trading on Thursday, hitting $86.88. 2,743,930 shares of the company’s stock were exchanged, compared to its average volume of 2,832,339. Cognizant Technology Solutions has a 1-year low of $63.79 and a 1-year high of $87.61. The firm has a 50-day moving average price of $79.31 and a two-hundred day moving average price of $77.45. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08. The firm has a market cap of $43.08 billion, a P/E ratio of 19.23, a PEG ratio of 2.21 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.08%. Equities analysts predict that Cognizant Technology Solutions will post 4.66 earnings per share for the current year.

Insiders Place Their Bets

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the transaction, the chief accounting officer now owns 39,022 shares in the company, valued at approximately $3,126,052.42. The trade was a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently bought and sold shares of CTSH. Addison Advisors LLC raised its position in shares of Cognizant Technology Solutions by 127.7% in the 3rd quarter. Addison Advisors LLC now owns 337 shares of the information technology service provider’s stock worth $26,000 after buying an additional 189 shares during the period. Duncker Streett & Co. Inc. bought a new stake in Cognizant Technology Solutions in the fourth quarter valued at about $28,000. Ashton Thomas Securities LLC acquired a new position in Cognizant Technology Solutions in the third quarter valued at approximately $30,000. Trust Co. of Vermont boosted its stake in Cognizant Technology Solutions by 188.4% in the fourth quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after acquiring an additional 292 shares during the period. Finally, Pinnacle Bancorp Inc. boosted its position in shares of Cognizant Technology Solutions by 47.4% during the third quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after buying an additional 146 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

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.