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

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price upped by Morgan Stanley from $75.00 to $80.00 in a report released on Friday,Benzinga reports. The firm currently has an equal weight rating on the information technology service provider’s stock.

CTSH has been the subject of a number of other research reports. Robert W. Baird raised their price objective on Cognizant Technology Solutions from $78.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. StockNews.com lowered Cognizant Technology Solutions from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Needham & Company LLC restated a “hold” rating on shares of Cognizant Technology Solutions in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft raised their price objective on Cognizant Technology Solutions from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen raised their price objective on Cognizant Technology Solutions from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Sixteen research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $81.12.

Cognizant Technology Solutions Trading Down 0.2 %

Shares of CTSH stock opened at $82.61 on Friday. Cognizant Technology Solutions has a 52-week low of $63.79 and a 52-week high of $83.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.23 and a current ratio of 2.23. The firm has a market capitalization of $40.96 billion, a PE ratio of 18.28, a PEG ratio of 2.17 and a beta of 1.07. The stock has a fifty day simple moving average of $79.16 and a two-hundred day simple moving average of $77.27.

Insider Transactions at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $80.11, for a total transaction of $400,550.00. Following the transaction, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This trade represents a 11.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Cognizant Technology Solutions

Several institutional investors have recently bought and sold shares of the business. Morton Brown Family Wealth LLC purchased a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $37,000. Kestra Investment Management LLC purchased a new position in Cognizant Technology Solutions during the fourth quarter valued at approximately $49,000. Atria Wealth Solutions Inc. increased its holdings in Cognizant Technology Solutions by 136.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 7,504 shares of the information technology service provider’s stock valued at $577,000 after buying an additional 4,335 shares during the period. Venturi Wealth Management LLC increased its holdings in Cognizant Technology Solutions by 85.4% during the fourth quarter. Venturi Wealth Management LLC now owns 621 shares of the information technology service provider’s stock valued at $48,000 after buying an additional 286 shares during the period. Finally, Truist Financial Corp increased its holdings in Cognizant Technology Solutions by 0.4% during the fourth quarter. Truist Financial Corp now owns 53,272 shares of the information technology service provider’s stock valued at $4,097,000 after buying an additional 203 shares during the period. 92.44% of the stock is owned by hedge funds and other institutional investors.

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.