Robert W. Baird Cuts Cognizant Technology Solutions (NASDAQ:CTSH) Price Target to $55.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target cut by analysts at Robert W. Baird from $72.00 to $55.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the information technology service provider’s stock. Robert W. Baird’s price target points to a potential upside of 26.73% from the stock’s previous close.

Several other research analysts have also recently issued reports on CTSH. Guggenheim decreased their price objective on shares of Cognizant Technology Solutions from $85.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Susquehanna cut their price objective on Cognizant Technology Solutions from $98.00 to $88.00 and set a “positive” rating on the stock in a report on Friday, May 1st. JPMorgan Chase & Co. reduced their target price on Cognizant Technology Solutions from $92.00 to $74.00 and set an “overweight” rating for the company in a report on Tuesday, April 28th. Daiwa Securities Group reduced their price target on shares of Cognizant Technology Solutions from $65.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, June 24th. Finally, Wedbush raised Cognizant Technology Solutions from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $56.00 to $70.00 in a research report on Monday, June 8th. Eleven investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $67.61.

Cognizant Technology Solutions Trading Up 2.3%

NASDAQ:CTSH opened at $43.40 on Friday. Cognizant Technology Solutions has a 12-month low of $37.08 and a 12-month high of $87.03. The firm has a market capitalization of $20.57 billion, a P/E ratio of 9.43, a P/E/G ratio of 0.89 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.23 and a quick ratio of 2.23. The business has a 50 day simple moving average of $48.50 and a 200 day simple moving average of $62.63.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, April 29th. The information technology service provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.33 by $0.07. Cognizant Technology Solutions had a net margin of 10.41% and a return on equity of 17.50%. The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.630-5.770 EPS. Equities research analysts predict that Cognizant Technology Solutions will post 5.7 EPS for the current year.

Cognizant Technology Solutions announced that its Board of Directors has authorized a stock repurchase plan on Monday, May 18th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information technology service provider to reacquire up to 9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC acquired a new stake in Cognizant Technology Solutions during the fourth quarter worth about $28,000. Physician Wealth Advisors Inc. grew its holdings in shares of Cognizant Technology Solutions by 165.1% during the fourth quarter. Physician Wealth Advisors Inc. now owns 342 shares of the information technology service provider’s stock worth $28,000 after purchasing an additional 213 shares during the last quarter. Lodestone Wealth Management LLC acquired a new stake in Cognizant Technology Solutions in the 4th quarter valued at about $28,000. Prosperity Bancshares Inc acquired a new position in Cognizant Technology Solutions during the 4th quarter worth $29,000. Finally, Towne Trust Company N.A increased its stake in shares of Cognizant Technology Solutions by 85.0% in the 4th quarter. Towne Trust Company N.A now owns 370 shares of the information technology service provider’s stock valued at $31,000 after buying an additional 170 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.