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

Cognizant Technology Solutions (NASDAQ:CTSH)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a report released on Friday, Benzinga reports. They currently have a $70.00 target price on the information technology service provider’s stock. Wedbush’s price target would suggest a potential upside of 19.71% from the stock’s previous close.

CTSH has been the subject of a number of other reports. TD Cowen reiterated a “hold” rating and issued a $54.00 price objective on shares of Cognizant Technology Solutions in a research note on Friday, September 18th. HSBC reduced their price objective on shares of Cognizant Technology Solutions from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Daiwa Securities Group lifted their price objective on shares of Cognizant Technology Solutions from $42.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, September 25th. Mizuho set a $64.00 price objective on shares of Cognizant Technology Solutions in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Cognizant Technology Solutions from $74.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, July 24th. Ten analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $64.43.

Cognizant Technology Solutions Stock Performance

Shares of CTSH stock traded down $2.40 during trading hours on Friday, hitting $58.48. 3,999,730 shares of the company were exchanged, compared to its average volume of 8,094,132. The firm has a fifty day simple moving average of $58.96 and a 200 day simple moving average of $54.45. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.11. Cognizant Technology Solutions has a 52-week low of $37.08 and a 52-week high of $87.03. The stock has a market capitalization of $26.34 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 1.07 and a beta of 0.86.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings results on Wednesday, July 29th. The information technology service provider reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.01). Cognizant Technology Solutions had a return on equity of 17.70% and a net margin of 10.26%.The company had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the previous year, the business earned $1.31 EPS. The company’s revenue for the quarter 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. Research analysts predict that Cognizant Technology Solutions will post 5.74 earnings per share for the current fiscal year.

Institutional Trading of Cognizant Technology Solutions

Several hedge funds have recently added to or reduced their stakes in CTSH. Security National Bank of SO Dak lifted its stake in Cognizant Technology Solutions by 1.1% in the second quarter. Security National Bank of SO Dak now owns 25,780 shares of the information technology service provider’s stock worth $998,000 after purchasing an additional 290 shares during the last quarter. Security National Bank of Sioux City Iowa IA lifted its stake in Cognizant Technology Solutions by 40.8% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 35,837 shares of the information technology service provider’s stock worth $1,388,000 after purchasing an additional 10,385 shares during the last quarter. ABS Direct Equity Fund LLC bought a new stake in Cognizant Technology Solutions in the second quarter worth $360,000. Sequoia Financial Advisors LLC lifted its stake in Cognizant Technology Solutions by 69.0% in the second quarter. Sequoia Financial Advisors LLC now owns 98,919 shares of the information technology service provider’s stock worth $3,831,000 after purchasing an additional 40,379 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in Cognizant Technology Solutions by 20.7% in the second quarter. Tidal Investments LLC now owns 224,697 shares of the information technology service provider’s stock worth $8,703,000 after purchasing an additional 38,577 shares during the last quarter. 92.44% of the stock is owned by institutional investors.

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.