UBS Group Forecasts Strong Price Appreciation for Cognizant Technology Solutions (NASDAQ:CTSH) Stock

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective hoisted by UBS Group from $83.00 to $86.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the information technology service provider’s stock. UBS Group’s price target points to a potential upside of 2.94% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. TD Cowen increased their price target on shares of Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Morgan Stanley increased their target price on shares of Cognizant Technology Solutions from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Robert W. Baird lifted their price target on shares of Cognizant Technology Solutions from $78.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Barclays upgraded Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $80.00 to $95.00 in a research note on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Cognizant Technology Solutions from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Seventeen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Cognizant Technology Solutions presently has a consensus rating of “Hold” and a consensus target price of $81.39.

Cognizant Technology Solutions Stock Up 0.8 %

CTSH stock opened at $83.54 on Monday. Cognizant Technology Solutions has a 1-year low of $63.79 and a 1-year high of $83.97. The stock has a market cap of $41.42 billion, a P/E ratio of 18.48, a P/E/G ratio of 2.21 and a beta of 1.07. The stock’s fifty day simple moving average is $79.20 and its two-hundred day simple moving average is $77.34. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.08.

Insider Buying and Selling

In related news, CAO John Sunshin Kim sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,022 shares in the company, valued at $3,126,052.42. The trade was a 11.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.

Institutional Trading of Cognizant Technology Solutions

A number of large investors have recently modified their holdings of CTSH. Assenagon Asset Management S.A. raised its stake in Cognizant Technology Solutions by 276.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,588,528 shares of the information technology service provider’s stock valued at $122,603,000 after purchasing an additional 1,167,033 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Cognizant Technology Solutions by 146.9% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,644,723 shares of the information technology service provider’s stock valued at $126,940,000 after buying an additional 978,579 shares in the last quarter. ING Groep NV lifted its holdings in shares of Cognizant Technology Solutions by 61.5% during the 3rd quarter. ING Groep NV now owns 2,478,364 shares of the information technology service provider’s stock worth $191,280,000 after acquiring an additional 943,372 shares during the last quarter. State Street Corp grew its position in Cognizant Technology Solutions by 3.6% in the third quarter. State Street Corp now owns 24,985,816 shares of the information technology service provider’s stock worth $1,928,405,000 after acquiring an additional 867,176 shares in the last quarter. Finally, Mizuho Markets Americas LLC bought a new position in Cognizant Technology Solutions in the third quarter valued at $61,744,000. Institutional investors own 92.44% of the company’s stock.

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.