Cognizant Technology Solutions (CTSH) Price Target Increased to $90.00 by Analysts at Loop Capital

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price increased by research analysts at Loop Capital to $90.00 in a research report issued to clients and investors on Thursday. The firm presently has a “buy” rating on the information technology service provider’s stock. Loop Capital’s target price would indicate a potential upside of 19.74% from the company’s current price.

CTSH has been the topic of a number of other reports. Vetr raised Cognizant Technology Solutions from a “hold” rating to a “strong-buy” rating and set a $95.56 price objective on the stock in a research note on Wednesday, November 29th. Zacks Investment Research downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research note on Friday, January 12th. BidaskClub downgraded Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. BMO Capital Markets lifted their price target on Cognizant Technology Solutions from $76.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday, November 2nd. Finally, Needham & Company LLC raised Cognizant Technology Solutions from a “buy” rating to a “strong-buy” rating and lifted their price target for the stock from $78.00 to $90.00 in a research report on Wednesday, November 1st. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $83.80.

Shares of Cognizant Technology Solutions (NASDAQ:CTSH) traded down $1.36 during mid-day trading on Thursday, hitting $75.16. The company had a trading volume of 6,935,265 shares, compared to its average volume of 3,863,876. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.29 and a quick ratio of 3.29. Cognizant Technology Solutions has a 1-year low of $56.29 and a 1-year high of $79.28. The company has a market cap of $43,574.77, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 1.49 and a beta of 1.11.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, February 7th. The information technology service provider reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.15. Cognizant Technology Solutions had a return on equity of 18.94% and a net margin of 13.42%. The business had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the business earned $0.87 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. sell-side analysts predict that Cognizant Technology Solutions will post 3.35 earnings per share for the current fiscal year.

In related news, Vice Chairman Chandrasekaran Ramakrishnan sold 25,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $75.44, for a total value of $1,886,000.00. Following the sale, the insider now owns 271,300 shares of the company’s stock, valued at approximately $20,466,872. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Malcolm Frank sold 9,462 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $70.61, for a total value of $668,111.82. Following the completion of the sale, the vice president now directly owns 15,533 shares in the company, valued at approximately $1,096,785.13. The disclosure for this sale can be found here. In the last ninety days, insiders sold 961,064 shares of company stock worth $70,504,403. 1.08% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Edgewood Management LLC boosted its stake in Cognizant Technology Solutions by 9.3% in the third quarter. Edgewood Management LLC now owns 16,915,676 shares of the information technology service provider’s stock worth $1,227,063,000 after purchasing an additional 1,443,368 shares in the last quarter. Nordea Investment Management AB boosted its stake in Cognizant Technology Solutions by 3.2% in the third quarter. Nordea Investment Management AB now owns 10,076,020 shares of the information technology service provider’s stock worth $730,914,000 after purchasing an additional 313,364 shares in the last quarter. Comgest Global Investors S.A.S. boosted its stake in Cognizant Technology Solutions by 24.5% in the third quarter. Comgest Global Investors S.A.S. now owns 7,416,617 shares of the information technology service provider’s stock worth $538,001,000 after purchasing an additional 1,461,800 shares in the last quarter. Swedbank boosted its stake in Cognizant Technology Solutions by 1.8% in the third quarter. Swedbank now owns 6,621,266 shares of the information technology service provider’s stock worth $480,307,000 after purchasing an additional 116,263 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in Cognizant Technology Solutions by 21.7% in the third quarter. Schroder Investment Management Group now owns 3,984,247 shares of the information technology service provider’s stock worth $287,424,000 after purchasing an additional 710,987 shares in the last quarter. 86.95% of the stock is currently owned by institutional investors.

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About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation is a professional services company. The Company operates through four segments: Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other. The Financial Services segment includes customers providing banking/transaction processing, capital markets and insurance services.

Analyst Recommendations for Cognizant Technology Solutions (NASDAQ:CTSH)

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