JPMorgan Chase & Co. Lowers Cognizant Technology Solutions (NASDAQ:CTSH) Price Target to $81.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective dropped by research analysts at JPMorgan Chase & Co. from $92.00 to $81.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the information technology service provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 11.60% from the company’s previous close.

A number of other research firms also recently weighed in on CTSH. Robert W. Baird cut their price target on Cognizant Technology Solutions from $90.00 to $78.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. UBS Group reduced their target price on shares of Cognizant Technology Solutions from $93.00 to $88.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Guggenheim reiterated a “neutral” rating on shares of Cognizant Technology Solutions in a report on Wednesday, April 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $93.00 target price on shares of Cognizant Technology Solutions in a report on Wednesday, March 26th. Finally, Barclays dropped their price objective on shares of Cognizant Technology Solutions from $103.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday. Fifteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus price target of $83.13.

Cognizant Technology Solutions Stock Up 0.6 %

Cognizant Technology Solutions stock opened at $72.58 on Tuesday. The business has a fifty day moving average of $76.60 and a two-hundred day moving average of $78.64. The firm has a market cap of $35.90 billion, a P/E ratio of 16.09, a P/E/G ratio of 2.11 and a beta of 1.03. Cognizant Technology Solutions has a twelve month low of $63.79 and a twelve month high of $90.82. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.06.

Cognizant Technology Solutions (NASDAQ:CTSH) last released its quarterly earnings results on Wednesday, February 5th. The information technology service provider reported $1.21 EPS for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a net margin of 11.35% and a return on equity of 16.78%. On average, analysts forecast that Cognizant Technology Solutions will post 4.98 earnings per share for the current fiscal year.

Cognizant Technology Solutions declared that its board has approved a share repurchase plan on Tuesday, March 25th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the information technology service provider to purchase up to 5.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Cognizant Technology Solutions

Institutional investors and hedge funds have recently made changes to their positions in the stock. Duncker Streett & Co. Inc. purchased a new position in Cognizant Technology Solutions during the 4th quarter worth $28,000. Trust Co. of Vermont grew its holdings in shares of Cognizant Technology Solutions by 188.4% in the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock worth $34,000 after purchasing an additional 292 shares during the last quarter. Park Square Financial Group LLC bought a new position in Cognizant Technology Solutions during the fourth quarter worth about $36,000. SBI Securities Co. Ltd. acquired a new position in Cognizant Technology Solutions in the 4th quarter valued at about $36,000. Finally, Spire Wealth Management increased its holdings in Cognizant Technology Solutions by 74.7% in the 4th quarter. Spire Wealth Management now owns 477 shares of the information technology service provider’s stock worth $37,000 after purchasing an additional 204 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.