Cognizant Technology Solutions Corp. Given New $103.00 Price Target at BMO Capital Markets (CTSH)
Investment analysts at BMO Capital Markets upped their price target on shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) from $96.00 to $103.00 in a note issued to investors on Thursday, AmericanBankingNews.com reports. BMO Capital Markets’ target price indicates a potential upside of 7.86% from the stock’s previous close.
Shares of Cognizant Technology Solutions Corp. (NASDAQ:CTSH) traded up 2.84% on Thursday, hitting $95.49. 2,978,732 shares of the company’s stock traded hands. Cognizant Technology Solutions Corp. has a 1-year low of $60.92 and a 1-year high of $101.62. The stock’s 50-day moving average is $98.37 and its 200-day moving average is $86.78. The company has a market cap of $28.885 billion and a price-to-earnings ratio of 23.86.
Cognizant Technology Solutions Corp. (NASDAQ:CTSH) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $1.15 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.06 by $0.09. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the prior year, the company posted $0.99 earnings per share. The company’s quarterly revenue was up 20.9% on a year-over-year basis. On average, analysts predict that Cognizant Technology Solutions Corp. will post $4.86 earnings per share for the current fiscal year.
CTSH has been the subject of a number of other recent research reports. Analysts at Jefferies Group raised their price target on shares of Cognizant Technology Solutions Corp. from $102.00 to $112.00 in a research note to investors on Thursday, January 30th. Separately, analysts at Barclays raised their price target on shares of Cognizant Technology Solutions Corp. from $105.00 to $120.00 in a research note to investors on Tuesday, January 21st. They now have an “overweight” rating on the stock. Finally, analysts at Ned Davis Research upgraded shares of Cognizant Technology Solutions Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Monday, December 30th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $95.68.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is a provider of custom information technology, consulting and business process outsourcing services.
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