Cognizant Technology Solutions (NASDAQ:CTSH) had its price target raised by investment analysts at Morgan Stanley from $77.00 to $84.00 in a report released on Monday. The firm currently has an “equal weight” rating on the information technology service provider’s stock. Morgan Stanley’s target price points to a potential upside of 14.61% from the stock’s current price.
A number of other equities research analysts have also recently commented on CTSH. Royal Bank of Canada reissued a “buy” rating and issued a $77.00 price objective on shares of Cognizant Technology Solutions in a research note on Sunday, October 8th. Zacks Investment Research raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Tuesday, October 10th. Jefferies Group reissued a “buy” rating and issued a $81.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, October 12th. Cowen reissued a “buy” rating and issued a $80.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, October 12th. Finally, KeyCorp reissued a “buy” rating and issued a $79.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, October 12th. Five investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $82.25.
Cognizant Technology Solutions (NASDAQ:CTSH) traded down $2.43 during midday trading on Monday, reaching $73.29. The company had a trading volume of 4,282,535 shares, compared to its average volume of 3,524,711. Cognizant Technology Solutions has a fifty-two week low of $52.44 and a fifty-two week high of $78.95. The firm has a market capitalization of $43,220.00, a PE ratio of 22.69, a P/E/G ratio of 1.52 and a beta of 1.11. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.07.
In related news, President Rajeev Mehta sold 42,563 shares of Cognizant Technology Solutions stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $77.50, for a total transaction of $3,298,632.50. Following the sale, the president now directly owns 35,020 shares in the company, valued at $2,714,050. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Chandrasekaran Ramakrishnan sold 25,000 shares of Cognizant Technology Solutions 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 in the company, valued at $20,466,872. The disclosure for this sale can be found here. Insiders have sold 975,311 shares of company stock worth $71,570,078 over the last quarter. 1.08% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of CTSH. Linscomb & Williams Inc. bought a new stake in shares of Cognizant Technology Solutions in the third quarter valued at $278,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Cognizant Technology Solutions by 45.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 143,385 shares of the information technology service provider’s stock valued at $10,401,000 after buying an additional 44,982 shares during the period. Rothschild Asset Management Inc. bought a new stake in shares of Cognizant Technology Solutions in the third quarter valued at $12,538,000. Tandem Investment Advisors Inc. raised its stake in shares of Cognizant Technology Solutions by 164.0% in the fourth quarter. Tandem Investment Advisors Inc. now owns 42,030 shares of the information technology service provider’s stock valued at $2,985,000 after buying an additional 26,111 shares during the period. Finally, Aurora Investment Counsel bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at $1,252,000. Institutional investors and hedge funds own 86.95% of the company’s stock.
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Cognizant Technology Solutions Company Profile
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.
