Cognizant Technology Solutions (NASDAQ:CTSH) PT Lowered to $82.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target dropped by stock analysts at Citigroup from $90.00 to $82.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the information technology service provider’s stock. Citigroup’s price target points to a potential upside of 21.00% from the company’s current price.

CTSH has been the topic of several other reports. BMO Capital Markets cut their target price on Cognizant Technology Solutions from $88.00 to $85.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 7th. Guggenheim began coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, March 19th. They set a “neutral” rating and a $80.00 target price on the stock. Susquehanna reissued a “neutral” rating and set a $80.00 target price (down from $87.00) on shares of Cognizant Technology Solutions in a research note on Monday, April 1st. Mizuho began coverage on shares of Cognizant Technology Solutions in a research note on Tuesday, January 30th. They issued a “neutral” rating and a $82.00 price target on the stock. Finally, Societe Generale reiterated a “sell” rating and issued a $67.00 price objective on shares of Cognizant Technology Solutions in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $76.44.

Cognizant Technology Solutions Trading Down 0.6 %

Shares of CTSH stock opened at $67.77 on Monday. Cognizant Technology Solutions has a 52-week low of $58.09 and a 52-week high of $80.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.25 and a current ratio of 2.25. The stock has a fifty day simple moving average of $74.13 and a two-hundred day simple moving average of $72.58. The firm has a market capitalization of $33.74 billion, a PE ratio of 16.14, a PEG ratio of 1.54 and a beta of 1.06.

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

Insider Activity at Cognizant Technology Solutions

In related news, EVP Kathryn Diaz sold 900 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total transaction of $69,354.00. Following the completion of the transaction, the executive vice president now directly owns 8,312 shares of the company’s stock, valued at approximately $640,522.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. IFG Advisory LLC boosted its position in shares of Cognizant Technology Solutions by 45.1% during the 4th quarter. IFG Advisory LLC now owns 67,119 shares of the information technology service provider’s stock worth $5,070,000 after acquiring an additional 20,874 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in Cognizant Technology Solutions by 36.0% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,227,411 shares of the information technology service provider’s stock valued at $83,145,000 after acquiring an additional 324,638 shares during the last quarter. PGGM Investments raised its stake in shares of Cognizant Technology Solutions by 53.8% during the 3rd quarter. PGGM Investments now owns 74,411 shares of the information technology service provider’s stock worth $5,041,000 after buying an additional 26,035 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Cognizant Technology Solutions by 110.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,344,587 shares of the information technology service provider’s stock worth $91,082,000 after buying an additional 704,932 shares in the last quarter. Finally, Perigon Wealth Management LLC raised its stake in shares of Cognizant Technology Solutions by 4.4% during the 4th quarter. Perigon Wealth Management LLC now owns 4,743 shares of the information technology service provider’s stock worth $358,000 after buying an additional 199 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

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.