Cognizant Technology Solutions (NASDAQ:CTSH) Price Target Raised to $80.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price hoisted by equities research analysts at Deutsche Bank Aktiengesellschaft from $70.00 to $80.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the information technology service provider’s stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 5.17% from the stock’s previous close.

A number of other analysts have also commented on CTSH. StockNews.com raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cognizant Technology Solutions in a research report on Wednesday, August 28th. Barclays increased their target price on Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. boosted their price target on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. Finally, Jefferies Financial Group started coverage on shares of Cognizant Technology Solutions in a research note on Wednesday, August 28th. They issued a “buy” rating and a $90.00 price objective on the stock. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus target price of $77.58.

Cognizant Technology Solutions Price Performance

Cognizant Technology Solutions stock opened at $76.07 on Tuesday. The stock has a market capitalization of $37.82 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 2.16 and a beta of 1.05. Cognizant Technology Solutions has a 52-week low of $62.14 and a 52-week high of $80.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. The stock’s 50 day moving average price is $76.53 and its two-hundred day moving average price is $71.77.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its earnings results on Wednesday, July 31st. The information technology service provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.80 billion. During the same period in the prior year, the firm earned $1.10 earnings per share. Cognizant Technology Solutions’s revenue was down .7% on a year-over-year basis. On average, equities analysts predict that Cognizant Technology Solutions will post 4.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $73.66, for a total value of $495,584.48. Following the transaction, the chief executive officer now owns 46,427 shares in the company, valued at approximately $3,419,812.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTSH. Vanguard Group Inc. boosted its position in Cognizant Technology Solutions by 13.6% during the first quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after purchasing an additional 6,933,908 shares during the period. Cibc World Market Inc. lifted its stake in shares of Cognizant Technology Solutions by 19,850.5% during the 2nd quarter. Cibc World Market Inc. now owns 3,016,114 shares of the information technology service provider’s stock valued at $205,096,000 after buying an additional 3,000,996 shares in the last quarter. Pzena Investment Management LLC lifted its stake in shares of Cognizant Technology Solutions by 11.7% during the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after buying an additional 1,943,127 shares in the last quarter. Bank of Montreal Can raised its holdings in Cognizant Technology Solutions by 152.8% during the 2nd quarter. Bank of Montreal Can now owns 2,120,012 shares of the information technology service provider’s stock valued at $146,132,000 after acquiring an additional 1,281,236 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Cognizant Technology Solutions by 276.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock worth $122,603,000 after acquiring an additional 1,167,033 shares during the period. 92.44% of the stock is currently owned by institutional investors.

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.