Royal Bank of Canada Raises Cognizant Technology Solutions (NASDAQ:CTSH) Price Target to $93.00

Cognizant Technology Solutions (NASDAQ:CTSH) had its target price upped by investment analysts at Royal Bank of Canada from $82.00 to $93.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the information technology service provider’s stock. Royal Bank of Canada’s price objective points to a potential upside of 7.89% from the stock’s previous close.

Several other equities analysts have also issued reports on CTSH. Robert W. Baird boosted 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. Morgan Stanley upped their price target on Cognizant Technology Solutions from $80.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday. Barclays raised Cognizant Technology Solutions from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $80.00 to $95.00 in a research report on Tuesday, December 17th. BMO Capital Markets upped their price target on Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, UBS Group upped their price target on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Sixteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $83.22.

Cognizant Technology Solutions Price Performance

Shares of CTSH opened at $86.20 on Thursday. 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 stock has a 50 day simple moving average of $79.44 and a 200 day simple moving average of $77.52. Cognizant Technology Solutions has a 52-week low of $63.79 and a 52-week high of $87.61. The firm has a market capitalization of $42.74 billion, a PE ratio of 19.07, a P/E/G ratio of 2.21 and a beta of 1.07.

Cognizant Technology Solutions (NASDAQ:CTSH) last issued its quarterly earnings data on Wednesday, February 5th. The information technology service provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.09. Cognizant Technology Solutions had a return on equity of 17.08% and a net margin of 11.60%. Sell-side analysts predict that Cognizant Technology Solutions will post 4.66 EPS for the current fiscal year.

Insider Transactions at Cognizant Technology Solutions

In other news, CAO John Sunshin Kim sold 5,000 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $80.11, for a total transaction of $400,550.00. Following the sale, the chief accounting officer now directly owns 39,022 shares of the company’s stock, valued at approximately $3,126,052.42. This represents a 11.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

Institutional Trading of Cognizant Technology Solutions

Several large investors have recently modified their holdings of CTSH. Czech National Bank boosted its stake in Cognizant Technology Solutions by 6.6% in the third quarter. Czech National Bank now owns 100,970 shares of the information technology service provider’s stock valued at $7,793,000 after buying an additional 6,223 shares in the last quarter. Atomi Financial Group Inc. acquired a new stake in Cognizant Technology Solutions in the third quarter valued at about $264,000. Brookstone Capital Management boosted its stake in Cognizant Technology Solutions by 26.3% in the third quarter. Brookstone Capital Management now owns 4,576 shares of the information technology service provider’s stock valued at $353,000 after buying an additional 952 shares in the last quarter. Marcum Wealth LLC acquired a new stake in Cognizant Technology Solutions in the third quarter valued at about $204,000. Finally, Wedmont Private Capital boosted its stake in Cognizant Technology Solutions by 60.5% in the third quarter. Wedmont Private Capital now owns 4,731 shares of the information technology service provider’s stock valued at $360,000 after buying an additional 1,783 shares in the last quarter. 92.44% of the stock is owned by institutional investors and hedge funds.

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.