Morgan Stanley Has Lowered Expectations for Cognizant Technology Solutions (NASDAQ:CTSH) Stock Price

Cognizant Technology Solutions (NASDAQ:CTSH) had its price objective lowered by stock analysts at Morgan Stanley from $85.00 to $80.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the information technology service provider’s stock. Morgan Stanley’s price target suggests a potential upside of 2.12% from the stock’s previous close.

CTSH has been the topic of several other research reports. BMO Capital Markets raised their target price on shares of Cognizant Technology Solutions from $88.00 to $94.00 and gave the stock a “market perform” rating in a report on Thursday, February 6th. Barclays boosted their price objective on shares of Cognizant Technology Solutions from $95.00 to $103.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Needham & Company LLC reissued a “hold” rating on shares of Cognizant Technology Solutions in a research note on Thursday, February 6th. StockNews.com upgraded Cognizant Technology Solutions from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Finally, UBS Group increased their price objective on Cognizant Technology Solutions from $83.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Sixteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $83.39.

Cognizant Technology Solutions Trading Down 1.5 %

Shares of CTSH opened at $78.34 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.09 and a current ratio of 2.09. Cognizant Technology Solutions has a fifty-two week low of $63.79 and a fifty-two week high of $90.82. The firm has a 50 day moving average price of $82.32 and a 200-day moving average price of $79.37. The firm has a market cap of $38.75 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 2.11 and a beta of 1.12.

Cognizant Technology Solutions (NASDAQ:CTSH) last posted its quarterly earnings results 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 net margin of 11.35% and a return on equity of 16.78%. As a group, equities research analysts forecast that Cognizant Technology Solutions will post 4.98 earnings per share for the current year.

Institutional Trading of Cognizant Technology Solutions

Institutional investors and hedge funds have recently bought and sold shares of the stock. Duncker Streett & Co. Inc. bought a new stake in shares of Cognizant Technology Solutions in the fourth quarter worth about $28,000. Ashton Thomas Securities LLC purchased a new stake in shares of Cognizant Technology Solutions during the 3rd quarter worth approximately $30,000. Trust Co. of Vermont boosted its position in shares of Cognizant Technology Solutions by 188.4% during the 4th quarter. Trust Co. of Vermont now owns 447 shares of the information technology service provider’s stock valued at $34,000 after acquiring an additional 292 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Cognizant Technology Solutions in the fourth quarter valued at $36,000. Finally, Park Square Financial Group LLC bought a new stake in Cognizant Technology Solutions in the fourth quarter worth $36,000. 92.44% of the stock is currently owned by institutional investors.

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.