Brokerages Set Cognizant Technology Solutions Co. (NASDAQ:CTSH) Price Target at $75.75

Cognizant Technology Solutions Co. (NASDAQ:CTSH) has earned an average rating of “Hold” from the eighteen brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $75.75.

Several equities research analysts have recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $85.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, May 2nd. Susquehanna dropped their price objective on shares of Cognizant Technology Solutions from $80.00 to $78.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. StockNews.com downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a report on Monday, June 10th. Finally, BMO Capital Markets reduced their price objective on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 30th.

Cognizant Technology Solutions Stock Up 1.7 %

Shares of CTSH opened at $75.82 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $68.95 and a two-hundred day moving average price of $71.85. The stock has a market cap of $37.70 billion, a price-to-earnings ratio of 18.23, a P/E/G ratio of 2.23 and a beta of 1.05. Cognizant Technology Solutions has a 12 month low of $62.14 and a 12 month high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, May 1st. The information technology service provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.11 by $0.01. Cognizant Technology Solutions had a return on equity of 17.48% and a net margin of 10.84%. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the previous year, the firm earned $1.11 EPS. Cognizant Technology Solutions’s quarterly revenue was down 1.1% on a year-over-year basis. Equities analysts predict that Cognizant Technology Solutions will post 4.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several large investors have recently bought and sold shares of CTSH. Pacer Advisors Inc. lifted its stake in shares of Cognizant Technology Solutions by 11.1% in the 4th quarter. Pacer Advisors Inc. now owns 59,368 shares of the information technology service provider’s stock valued at $4,484,000 after purchasing an additional 5,909 shares during the period. Planned Solutions Inc. acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter worth about $70,000. Denali Advisors LLC bought a new stake in shares of Cognizant Technology Solutions in the 4th quarter valued at about $211,000. Fifth Third Bancorp raised its position in shares of Cognizant Technology Solutions by 6.9% in the 4th quarter. Fifth Third Bancorp now owns 16,227 shares of the information technology service provider’s stock valued at $1,226,000 after acquiring an additional 1,050 shares during the period. Finally, Clarus Wealth Advisors bought a new position in Cognizant Technology Solutions during the 4th quarter worth approximately $202,000. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.