Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Cut to $75.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective dropped by research analysts at Barclays from $80.00 to $75.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the information technology service provider’s stock. Barclays‘s price objective points to a potential upside of 12.04% from the stock’s previous close.

A number of other research firms have also commented on CTSH. Wolfe Research raised Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Citigroup reduced their price objective on Cognizant Technology Solutions from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Guggenheim began coverage on Cognizant Technology Solutions in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $80.00 price objective on the stock. Societe Generale reissued a “sell” rating and issued a $67.00 price objective on shares of Cognizant Technology Solutions in a research note on Friday, January 5th. Finally, Susquehanna reissued a “neutral” rating and issued a $80.00 price objective (down previously from $87.00) on shares of Cognizant Technology Solutions in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $76.13.

Cognizant Technology Solutions Stock Performance

Shares of NASDAQ:CTSH opened at $66.94 on Friday. The business’s fifty day moving average price is $73.52 and its two-hundred day moving average price is $72.53. Cognizant Technology Solutions has a fifty-two week low of $58.47 and a fifty-two week high of $80.09. The stock has a market capitalization of $33.33 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 1.52 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.25 and a quick ratio of 2.25.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.14. Cognizant Technology Solutions had a return on equity of 17.83% and a net margin of 10.98%. The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.76 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. As a group, analysts predict that Cognizant Technology Solutions will post 4.59 EPS for the current fiscal year.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the transaction, the executive vice president now owns 8,312 shares of the company’s stock, valued at $640,522.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Cognizant Technology Solutions by 17.0% in the fourth quarter. Vanguard Group Inc. now owns 51,111,915 shares of the information technology service provider’s stock worth $3,860,483,000 after acquiring an additional 7,445,089 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Cognizant Technology Solutions by 32.8% in the third quarter. JPMorgan Chase & Co. now owns 17,663,814 shares of the information technology service provider’s stock worth $1,196,547,000 after acquiring an additional 4,365,493 shares in the last quarter. Boston Partners increased its holdings in shares of Cognizant Technology Solutions by 3.0% in the third quarter. Boston Partners now owns 8,056,248 shares of the information technology service provider’s stock worth $544,942,000 after acquiring an additional 231,782 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Cognizant Technology Solutions by 5.0% in the third quarter. Northern Trust Corp now owns 6,177,547 shares of the information technology service provider’s stock worth $418,467,000 after acquiring an additional 294,415 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Cognizant Technology Solutions by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,433,474 shares of the information technology service provider’s stock worth $410,406,000 after acquiring an additional 238,551 shares in the last quarter. Institutional investors and hedge funds own 92.44% of the company’s stock.

Cognizant Technology Solutions Company Profile

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.