Cognizant Technology Solutions (NASDAQ:CTSH) Given New $80.00 Price Target at Deutsche Bank Aktiengesellschaft

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target hoisted by analysts at Deutsche Bank Aktiengesellschaft from $70.00 to $80.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the information technology service provider’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 5.29% from the company’s current price.

CTSH has been the topic of several other research reports. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. The Goldman Sachs Group restated a “neutral” rating and set a $76.00 target price on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. Royal Bank of Canada upped their price target on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a report on Wednesday, August 28th. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $73.00 to $75.00 in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their target price on Cognizant Technology Solutions from $82.00 to $89.00 and gave the company a “neutral” rating in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus target price of $77.58.

Cognizant Technology Solutions Price Performance

Shares of NASDAQ:CTSH traded down $0.89 on Tuesday, reaching $75.98. 614,549 shares of the company were exchanged, compared to its average volume of 3,804,340. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. Cognizant Technology Solutions has a 1-year low of $62.14 and a 1-year high of $80.27. The company has a 50-day moving average of $76.46 and a 200-day moving average of $71.71. The firm has a market cap of $37.78 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05.

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, beating analysts’ consensus estimates of $1.12 by $0.05. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.80 billion. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the company posted $1.10 earnings per share. Equities analysts forecast that Cognizant Technology Solutions will post 4.62 earnings per share for the current fiscal year.

Insider Activity at Cognizant Technology Solutions

In other news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions 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 completion of the transaction, the chief executive officer now owns 46,427 shares in the company, valued at approximately $3,419,812.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of institutional investors have recently modified their holdings of the business. 1620 Investment Advisors Inc. acquired a new position in Cognizant Technology Solutions in the second quarter valued at approximately $25,000. LRI Investments LLC acquired a new position in Cognizant Technology Solutions during the 1st quarter valued at approximately $28,000. Pinnacle Bancorp Inc. grew its stake in Cognizant Technology Solutions by 47.4% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 454 shares of the information technology service provider’s stock worth $35,000 after buying an additional 146 shares during the last quarter. Benjamin Edwards Inc. increased its position in Cognizant Technology Solutions by 42.1% in the second quarter. Benjamin Edwards Inc. now owns 533 shares of the information technology service provider’s stock worth $36,000 after buying an additional 158 shares during the period. Finally, Eastern Bank bought a new stake in Cognizant Technology Solutions in the third quarter valued at $37,000. Institutional investors own 92.44% of the company’s stock.

About Cognizant Technology Solutions

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.