TD Cowen Forecasts Strong Price Appreciation for Cognizant Technology Solutions (NASDAQ:CTSH) Stock

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective raised by equities researchers at TD Cowen from $78.00 to $84.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the information technology service provider’s stock. TD Cowen’s price target indicates a potential downside of 1.48% from the stock’s current price.

Several other research firms have also weighed in on CTSH. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cognizant Technology Solutions in a research note on Monday, December 29th. Mizuho set a $85.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, October 30th. Royal Bank Of Canada decreased their price target on shares of Cognizant Technology Solutions from $93.00 to $82.00 and set a “sector perform” rating on the stock in a report on Thursday, October 30th. Cowen reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Friday. Finally, UBS Group restated a “neutral” rating and issued a $82.00 target price (up previously from $78.00) on shares of Cognizant Technology Solutions in a research report on Monday, December 8th. Seven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus price target of $85.35.

Cognizant Technology Solutions Stock Down 0.6%

Shares of NASDAQ CTSH opened at $85.26 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.36 and a current ratio of 2.36. Cognizant Technology Solutions has a 52 week low of $65.15 and a 52 week high of $90.82. The stock has a market capitalization of $41.15 billion, a P/E ratio of 19.78, a PEG ratio of 1.63 and a beta of 0.96. The stock’s fifty day moving average is $79.44 and its 200 day moving average is $74.28.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.09. Cognizant Technology Solutions had a net margin of 10.20% and a return on equity of 17.00%. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. Sell-side analysts forecast that Cognizant Technology Solutions will post 4.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 2,500 shares of the stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $80.00, for a total value of $200,000.00. Following the completion of the sale, the chief accounting officer owned 36,149 shares of the company’s stock, valued at approximately $2,891,920. This represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael Patsalos-Fox sold 2,000 shares of Cognizant Technology Solutions stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $84.23, for a total value of $168,460.00. Following the completion of the transaction, the director directly owned 29,729 shares in the company, valued at approximately $2,504,073.67. This represents a 6.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 30,206 shares of company stock worth $2,505,231. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Hedge funds have recently bought and sold shares of the company. Unison Advisors LLC boosted its position in Cognizant Technology Solutions by 0.5% during the second quarter. Unison Advisors LLC now owns 29,843 shares of the information technology service provider’s stock valued at $2,329,000 after acquiring an additional 135 shares during the last quarter. Security National Bank of SO Dak lifted its stake in shares of Cognizant Technology Solutions by 0.6% in the 3rd quarter. Security National Bank of SO Dak now owns 24,785 shares of the information technology service provider’s stock valued at $1,662,000 after purchasing an additional 150 shares during the period. NewSquare Capital LLC boosted its position in shares of Cognizant Technology Solutions by 71.8% during the 2nd quarter. NewSquare Capital LLC now owns 366 shares of the information technology service provider’s stock valued at $29,000 after purchasing an additional 153 shares in the last quarter. Haven Private LLC grew its stake in Cognizant Technology Solutions by 1.9% during the third quarter. Haven Private LLC now owns 8,451 shares of the information technology service provider’s stock worth $567,000 after purchasing an additional 157 shares during the period. Finally, STF Management LP grew its stake in Cognizant Technology Solutions by 2.1% during the second quarter. STF Management LP now owns 7,534 shares of the information technology service provider’s stock worth $588,000 after purchasing an additional 158 shares during the period. Institutional investors own 92.44% of the company’s stock.

About Cognizant Technology Solutions

Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.