Cognizant Technology Solutions Corp Price Target Cut to $55.00 (CTSH)
Stock analysts at Cowen and Company cut their price target on shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) from $60.00 to $55.00 in a report issued on Thursday, Analyst Ratings.Net reports. Cowen and Company’s target price indicates a potential upside of 15.26% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Societe Generale raised their price target on shares of Cognizant Technology Solutions Corp from $55.00 to $60.00 in a research note on Thursday, April 10th. Separately, analysts at UBS AG upgraded shares of Cognizant Technology Solutions Corp from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 2nd. They now have a $58.00 price target on the stock, up previously from $50.00. Finally, analysts at Nomura cut their price target on shares of Cognizant Technology Solutions Corp from $108.00 to $56.00 in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $82.16.
Shares of Cognizant Technology Solutions Corp (NASDAQ:CTSH) traded down 0.58% on Thursday, hitting $47.72. 3,491,840 shares of the company’s stock traded hands. Cognizant Technology Solutions Corp has a 52 week low of $30.46 and a 52 week high of $54.00. The stock has a 50-day moving average of $49.04 and a 200-day moving average of $48.54. The company has a market cap of $28.986 billion and a price-to-earnings ratio of 23.82.
Cognizant Technology Solutions Corp (NASDAQ:CTSH) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.62 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.55 by $0.07. The company had revenue of $2.42 million for the quarter, compared to the consensus estimate of $2.43 million. During the same quarter last year, the company posted $1.02 earnings per share. Cognizant Technology Solutions Corp’s revenue was up 19.9% compared to the same quarter last year. On average, analysts predict that Cognizant Technology Solutions Corp will post $2.40 earnings per share for the current fiscal year.
In other Cognizant Technology Solutions Corp news, VP Malcolm Frank sold 1,643 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $49.23, for a total value of $80,884.89. Following the completion of the sale, the vice president now directly owns 810 shares of the company’s stock, valued at approximately $39,876. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Cognizant Technology Solutions Corporation (NASDAQ:CTSH) is a provider of custom information technology, consulting and business process outsourcing services.
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