TD Cowen Issues Positive Forecast for Cognizant Technology Solutions (NASDAQ:CTSH) Stock Price

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price increased by TD Cowen from $78.00 to $84.00 in a report issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the information technology service provider’s stock. TD Cowen’s price target indicates a potential downside of 1.50% from the stock’s previous close.

A number of other brokerages have also issued reports on CTSH. Mizuho set a $85.00 price target on shares of Cognizant Technology Solutions in a research note on Thursday, October 30th. Cowen reissued a “hold” rating on shares of Cognizant Technology Solutions in a research report on Friday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $84.00 price target on shares of Cognizant Technology Solutions in a research report on Wednesday, October 29th. William Blair upgraded Cognizant Technology Solutions from a “market perform” rating to an “outperform” rating in a research note on Friday, November 21st. Finally, Citigroup initiated coverage on Cognizant Technology Solutions in a research note on Thursday, October 23rd. They issued a “neutral” rating and a $75.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $85.35.

Cognizant Technology Solutions Stock Down 0.6%

CTSH stock traded down $0.50 on Friday, hitting $85.28. 1,672,662 shares of the company’s stock were exchanged, compared to its average volume of 3,274,832. The firm has a 50 day moving average price of $79.20 and a two-hundred day moving average price of $74.25. Cognizant Technology Solutions has a 12-month low of $65.15 and a 12-month high of $90.82. The stock has a market cap of $41.16 billion, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 1.61 and a beta of 0.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.36 and a current ratio of 2.36.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, October 29th. The information technology service provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.09. Cognizant Technology Solutions had a return on equity of 17.00% and a net margin of 10.20%.The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter last year, the company earned $1.25 earnings per share. The company’s quarterly revenue was up 7.5% on a year-over-year basis. Cognizant Technology Solutions has set its FY 2025 guidance at 5.220-5.260 EPS. As a group, equities research analysts expect that Cognizant Technology Solutions will post 4.98 EPS for the current fiscal year.

Insider Buying and Selling at Cognizant Technology Solutions

In other Cognizant Technology Solutions news, CAO John Sunshin Kim sold 2,500 shares of Cognizant Technology Solutions stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. Following the sale, the chief accounting officer owned 36,149 shares of the company’s stock, valued at $2,891,920. The trade was a 6.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ravi Kumar Singisetti sold 3,125 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $80.01, for a total transaction of $250,031.25. Following the completion of the sale, the chief executive officer owned 75,454 shares of the company’s stock, valued at $6,037,074.54. This trade represents a 3.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 28,206 shares of company stock worth $2,336,771. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Cognizant Technology Solutions

Hedge funds have recently modified their holdings of the company. Unison Advisors LLC lifted its holdings in Cognizant Technology Solutions by 0.5% during the 2nd quarter. Unison Advisors LLC now owns 29,843 shares of the information technology service provider’s stock worth $2,329,000 after buying an additional 135 shares in the last quarter. Security National Bank of SO Dak increased its position in shares of Cognizant Technology Solutions by 0.6% during the third quarter. Security National Bank of SO Dak now owns 24,785 shares of the information technology service provider’s stock worth $1,662,000 after acquiring an additional 150 shares during the period. NewSquare Capital LLC increased its position in shares of Cognizant Technology Solutions by 71.8% during the second quarter. NewSquare Capital LLC now owns 366 shares of the information technology service provider’s stock worth $29,000 after acquiring an additional 153 shares during the period. Haven Private LLC raised its stake in shares of Cognizant Technology Solutions by 1.9% in the third quarter. Haven Private LLC now owns 8,451 shares of the information technology service provider’s stock valued at $567,000 after acquiring an additional 157 shares in the last quarter. Finally, STF Management LP boosted its holdings in Cognizant Technology Solutions by 2.1% in the second quarter. STF Management LP now owns 7,534 shares of the information technology service provider’s stock valued at $588,000 after purchasing an additional 158 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.

About Cognizant Technology Solutions

Cognizant Technology Solutions (NASDAQ: CTSH) is a global professional services company that provides information technology, consulting and business process services to large enterprises. Its core offerings include digital engineering, application development and maintenance, cloud migration and managed services, data analytics and artificial intelligence, cybersecurity, and industry-specific solutions. Cognizant works with clients to design and implement technology-enabled transformations that address customer experience, operational efficiency and new product and service delivery.

Founded in the 1990s and headquartered in Teaneck, New Jersey, Cognizant has grown into a multinational organization with delivery centers and operations across the Americas, Europe, and Asia.