Cognizant Technology Solutions (NASDAQ:CTSH) Given New $76.00 Price Target at TD Cowen

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective boosted by stock analysts at TD Cowen from $75.00 to $76.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the information technology service provider’s stock. TD Cowen’s target price would indicate a potential upside of 1.86% from the stock’s current price.

CTSH has been the subject of several other reports. Jefferies Financial Group initiated coverage on shares of Cognizant Technology Solutions in a report on Wednesday, August 28th. They set a “buy” rating and a $90.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Barclays lifted their price target on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Robert W. Baird lifted their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $76.00 price target on shares of Cognizant Technology Solutions in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, twenty have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.70.

Cognizant Technology Solutions Stock Performance

NASDAQ:CTSH opened at $74.61 on Thursday. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $76.36 and a two-hundred day moving average price of $71.99. Cognizant Technology Solutions has a twelve month low of $62.14 and a twelve month high of $80.27. The company has a market capitalization of $36.98 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 2.09 and a beta of 1.05.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its earnings results on Wednesday, October 30th. The information technology service provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.11. Cognizant Technology Solutions had a net margin of 11.60% and a return on equity of 17.37%. The firm had revenue of $5.04 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the firm posted $1.16 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, research analysts expect that Cognizant Technology Solutions will post 4.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CEO Ravi Kumar Singisetti sold 6,728 shares of Cognizant Technology Solutions stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the transaction, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at $3,419,812.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CTSH. Wealth Enhancement Advisory Services LLC lifted its position in shares of Cognizant Technology Solutions by 3.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 44,420 shares of the information technology service provider’s stock worth $3,256,000 after purchasing an additional 1,650 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Cognizant Technology Solutions by 10.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 5,798 shares of the information technology service provider’s stock worth $425,000 after purchasing an additional 547 shares in the last quarter. Norden Group LLC acquired a new position in shares of Cognizant Technology Solutions during the first quarter worth $4,455,000. First Trust Direct Indexing L.P. lifted its position in shares of Cognizant Technology Solutions by 9.7% during the first quarter. First Trust Direct Indexing L.P. now owns 13,804 shares of the information technology service provider’s stock worth $1,012,000 after purchasing an additional 1,216 shares in the last quarter. Finally, Wakefield Asset Management LLLP acquired a new position in shares of Cognizant Technology Solutions in the 1st quarter valued at about $430,000. 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.