Cognizant Technology Solutions’ (CTSH) Outperform Rating Reaffirmed at Wedbush

Cognizant Technology Solutions (NASDAQ:CTSH)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a note issued to investors on Friday, Benzinga reports. They presently have a $70.00 price objective on the information technology service provider’s stock. Wedbush’s price target suggests a potential upside of 18.49% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Berenberg Bank set a $59.00 target price on Cognizant Technology Solutions and gave the stock a “hold” rating in a report on Wednesday, June 17th. Daiwa Securities Group raised their price target on Cognizant Technology Solutions from $42.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, September 25th. Morgan Stanley reaffirmed a “negative” rating and set a $51.00 price objective (up from $44.00) on shares of Cognizant Technology Solutions in a research note on Thursday, July 30th. HSBC cut their price objective on shares of Cognizant Technology Solutions from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $70.00 target price (up from $65.00) on shares of Cognizant Technology Solutions in a report on Friday, September 18th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cognizant Technology Solutions presently has an average rating of “Hold” and a consensus target price of $64.43.

Cognizant Technology Solutions Price Performance

Shares of Cognizant Technology Solutions stock traded down $1.80 during trading hours on Friday, reaching $59.08. The company’s stock had a trading volume of 2,898,199 shares, compared to its average volume of 8,088,075. The firm has a 50 day moving average price of $58.96 and a 200-day moving average price of $54.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.18 and a quick ratio of 2.18. The stock has a market cap of $26.61 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.07 and a beta of 0.86. Cognizant Technology Solutions has a one year low of $37.08 and a one year high of $87.03.

Cognizant Technology Solutions (NASDAQ:CTSH) last announced its quarterly earnings results on Wednesday, July 29th. The information technology service provider reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). Cognizant Technology Solutions had a net margin of 10.26% and a return on equity of 17.70%. The business had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the previous year, the business posted $1.31 EPS. The firm’s revenue was up 4.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2026 guidance at 5.700-5.820 EPS. On average, analysts predict that Cognizant Technology Solutions will post 5.74 EPS for the current year.

Institutional Investors Weigh In On Cognizant Technology Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pzena Investment Management LLC increased its position in shares of Cognizant Technology Solutions by 14.9% during the first quarter. Pzena Investment Management LLC now owns 20,262,362 shares of the information technology service provider’s stock worth $1,243,096,000 after acquiring an additional 2,633,683 shares during the period. Capital Research Global Investors grew its stake in Cognizant Technology Solutions by 2.2% in the fourth quarter. Capital Research Global Investors now owns 6,356,349 shares of the information technology service provider’s stock worth $527,577,000 after purchasing an additional 139,437 shares in the last quarter. National Bank of Canada FI grew its stake in Cognizant Technology Solutions by 0.5% in the fourth quarter. National Bank of Canada FI now owns 5,771,093 shares of the information technology service provider’s stock worth $479,000,000 after purchasing an additional 30,811 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Cognizant Technology Solutions by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,404,918 shares of the information technology service provider’s stock worth $392,947,000 after purchasing an additional 222,819 shares during the period. Finally, Amundi raised its position in Cognizant Technology Solutions by 9.2% during the 1st quarter. Amundi now owns 6,177,881 shares of the information technology service provider’s stock valued at $379,013,000 after purchasing an additional 520,532 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

About Cognizant Technology Solutions

Cognizant Technology Solutions Corporation (NASDAQ: CTSH) is a global professional services and information technology company that helps businesses modernize their operations and technology infrastructure. Its services include IT consulting, systems integration, application development and modernization, cloud computing, data and analytics, artificial intelligence, cybersecurity, and digital engineering.

The company also provides business process services and industry-specific solutions for sectors such as financial services, healthcare, life sciences, manufacturing, retail, communications, and information technology.