Cognizant Technology Solutions (NASDAQ:CTSH) Given New $78.00 Price Target at Susquehanna

Cognizant Technology Solutions (NASDAQ:CTSH) had its price target decreased by research analysts at Susquehanna from $80.00 to $78.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the information technology service provider’s stock. Susquehanna’s target price points to a potential upside of 19.32% from the stock’s previous close.

Several other brokerages have also recently issued reports on CTSH. Evercore ISI boosted their price objective on Cognizant Technology Solutions from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Wolfe Research raised Cognizant Technology Solutions from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. BMO Capital Markets decreased their price objective on Cognizant Technology Solutions from $85.00 to $77.00 and set a “market perform” rating for the company in a report on Tuesday. Royal Bank of Canada upped their price target on Cognizant Technology Solutions from $74.00 to $77.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 7th. Finally, Jefferies Financial Group raised Cognizant Technology Solutions from a “hold” rating to a “buy” rating and increased their target price for the company from $70.00 to $85.00 in a report on Thursday, January 11th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $75.50.

Cognizant Technology Solutions Stock Down 0.5 %

Cognizant Technology Solutions stock opened at $65.37 on Thursday. 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 business’s 50-day simple moving average is $72.84 and its two-hundred day simple moving average is $72.51. The company has a market cap of $32.54 billion, a PE ratio of 15.56, a PEG ratio of 1.50 and a beta of 1.08. Cognizant Technology Solutions has a fifty-two week low of $58.47 and a fifty-two week high of $80.09.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results on Tuesday, February 6th. The information technology service provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.14. The business had revenue of $4.76 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 EPS. Equities analysts anticipate that Cognizant Technology Solutions will post 4.59 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Kathryn Diaz sold 900 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $77.06, for a total value of $69,354.00. Following the sale, the executive vice president now directly owns 8,312 shares in the company, valued at $640,522.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by insiders.

Institutional Trading of Cognizant Technology Solutions

Several hedge funds have recently modified their holdings of the stock. Wakefield Asset Management LLLP acquired a new stake in shares of Cognizant Technology Solutions in the first quarter valued at $430,000. Klingman & Associates LLC acquired a new stake in shares of Cognizant Technology Solutions in the first quarter valued at $212,000. Ascent Wealth Partners LLC raised its stake in shares of Cognizant Technology Solutions by 15.0% in the first quarter. Ascent Wealth Partners LLC now owns 4,949 shares of the information technology service provider’s stock valued at $363,000 after acquiring an additional 646 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Cognizant Technology Solutions in the first quarter valued at $233,000. Finally, Van ECK Associates Corp raised its stake in shares of Cognizant Technology Solutions by 15.4% in the first quarter. Van ECK Associates Corp now owns 147,345 shares of the information technology service provider’s stock valued at $10,799,000 after acquiring an additional 19,690 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

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.