Cognizant Technology Solutions (NASDAQ:CTSH) PT Raised to $80.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective boosted by investment analysts at Deutsche Bank Aktiengesellschaft from $70.00 to $80.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the information technology service provider’s stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 5.17% from the company’s previous close.

CTSH has been the subject of several other reports. Bank of America raised shares of Cognizant Technology Solutions from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $73.00 to $75.00 in a research note on Wednesday, August 7th. Royal Bank of Canada lifted their price target on shares of Cognizant Technology Solutions from $81.00 to $82.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. increased their price objective on shares of Cognizant Technology Solutions from $82.00 to $89.00 and gave the stock a “neutral” rating in a research note on Friday, September 6th. Daiwa America raised Cognizant Technology Solutions to a “hold” rating in a research report on Tuesday, August 27th. Finally, Robert W. Baird increased their price target on Cognizant Technology Solutions from $75.00 to $78.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $77.58.

Cognizant Technology Solutions Stock Performance

Shares of CTSH opened at $76.07 on Tuesday. The firm has a market cap of $37.82 billion, a P/E ratio of 18.29, a PEG ratio of 2.16 and a beta of 1.05. Cognizant Technology Solutions has a twelve month low of $62.14 and a twelve month high of $80.27. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.46 and a current ratio of 2.46. The firm’s 50 day moving average price is $76.53 and its two-hundred day moving average price is $71.77.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings data on Wednesday, July 31st. The information technology service provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. Cognizant Technology Solutions had a net margin of 11.39% and a return on equity of 17.31%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the firm posted $1.10 EPS. The firm’s revenue was down .7% compared to the same quarter last year. On average, analysts forecast that Cognizant Technology Solutions will post 4.62 EPS for the current fiscal year.

Insider Transactions at Cognizant Technology Solutions

In related news, CEO Ravi Kumar Singisetti sold 6,728 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $73.66, for a total transaction of $495,584.48. Following the transaction, the chief executive officer now directly owns 46,427 shares of the company’s stock, valued at approximately $3,419,812.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

Institutional Trading of Cognizant Technology Solutions

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Cognizant Technology Solutions by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 58,045,823 shares of the information technology service provider’s stock worth $4,254,178,000 after acquiring an additional 6,933,908 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in shares of Cognizant Technology Solutions by 11.7% in the 2nd quarter. Pzena Investment Management LLC now owns 18,609,898 shares of the information technology service provider’s stock valued at $1,265,473,000 after purchasing an additional 1,943,127 shares in the last quarter. Boston Partners boosted its holdings in shares of Cognizant Technology Solutions by 1.3% in the 1st quarter. Boston Partners now owns 7,781,273 shares of the information technology service provider’s stock valued at $569,175,000 after purchasing an additional 101,078 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cognizant Technology Solutions by 1.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,565,974 shares of the information technology service provider’s stock valued at $378,483,000 after purchasing an additional 94,209 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Cognizant Technology Solutions by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 5,340,480 shares of the information technology service provider’s stock worth $363,153,000 after buying an additional 142,225 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

Cognizant Technology Solutions Company Profile

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.