Cognizant Technology Solutions (NASDAQ:CTSH) Earns Outperform Rating from Wedbush

Cognizant Technology Solutions (NASDAQ:CTSH)‘s stock had its “outperform” rating reiterated by research analysts at Wedbush in a research report issued on Friday, Benzinga reports. They currently have a $70.00 price target on the information technology service provider’s stock. Wedbush’s price target suggests a potential upside of 18.82% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Robert W. Baird set a $68.00 price objective on shares of Cognizant Technology Solutions in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $70.00 price objective (up from $65.00) on shares of Cognizant Technology Solutions in a report on Friday, September 18th. Daiwa Securities Group raised their price objective on shares of Cognizant Technology Solutions from $42.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, September 25th. Berenberg Bank set a $59.00 price objective on shares of Cognizant Technology Solutions and gave the stock a “hold” rating in a report on Wednesday, June 17th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Cognizant Technology Solutions in a report on Friday, August 7th. Ten analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cognizant Technology Solutions currently has a consensus rating of “Hold” and a consensus price target of $64.43.

Cognizant Technology Solutions Stock Down 3.2%

Cognizant Technology Solutions stock traded down $1.97 during trading on Friday, reaching $58.91. The stock had a trading volume of 2,694,166 shares, compared to its average volume of 8,087,484. Cognizant Technology Solutions has a 52-week low of $37.08 and a 52-week high of $87.03. The business has a 50 day moving average price of $58.96 and a 200 day moving average price of $54.45. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.11. The stock has a market cap of $26.54 billion, a PE ratio of 12.70, 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 analysts’ consensus estimates 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 firm had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. 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

Several institutional investors and hedge funds have recently made changes to their positions in CTSH. Signature Equity Partners LLC boosted its position in shares of Cognizant Technology Solutions by 102.4% in the 1st quarter. Signature Equity Partners LLC now owns 599 shares of the information technology service provider’s stock worth $37,000 after buying an additional 303 shares in the last quarter. Reflection Asset Management acquired a new position in Cognizant Technology Solutions in the 4th quarter valued at about $40,000. MV Capital Management Inc. acquired a new position in shares of Cognizant Technology Solutions during the 4th quarter valued at about $42,000. SJS Investment Consulting Inc. increased its stake in shares of Cognizant Technology Solutions by 1,580.0% during the 1st quarter. SJS Investment Consulting Inc. now owns 840 shares of the information technology service provider’s stock valued at $52,000 after acquiring an additional 790 shares during the last quarter. Finally, Capital Advisors Ltd. LLC increased its position in Cognizant Technology Solutions by 34.5% during the 1st quarter. Capital Advisors Ltd. LLC now owns 959 shares of the information technology service provider’s stock worth $59,000 after purchasing an additional 246 shares in the last quarter. 92.44% of the stock is currently owned by hedge funds and other 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.