Fri. Sep 30th, 2022


Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) had its price target cut by equities research analysts at Robert W. Baird from $94.00 to $84.00 in a note issued to investors on Friday, The Fly reports. Robert W. Baird’s price target points to a potential upside of 27.54% from the stock’s previous close.

Several other brokerages have also recently commented on CTSH. Cowen decreased their target price on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a report on Monday, May 9th. Citigroup dropped their price target on shares of Cognizant Technology Solutions from $95.00 to $88.00 in a research report on Thursday, May 5th. StockNews.com lowered shares of Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 11th. Finally, Cowen dropped their price target on shares of Cognizant Technology Solutions from $98.00 to $95.00 in a research report on Monday, May 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.14.

Cognizant Technology Solutions Stock Up 2.2 %

CTSH stock opened at $65.86 on Friday. The company has a quick ratio of 2.22, a current ratio of 2.22 and a debt-to-equity ratio of 0.05. Cognizant Technology Solutions has a fifty-two week low of $63.26 and a fifty-two week high of $93.47. The firm’s 50-day simple moving average is $70.16 and its 200 day simple moving average is $81.08. The stock has a market cap of $34.32 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.30 and a beta of 1.10.

Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last released its earnings results on Wednesday, May 4th. The information technology service provider reported $1.08 EPS for the quarter, beating the consensus estimate of $1.04 by $0.04. The firm had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Cognizant Technology Solutions had a net margin of 11.59% and a return on equity of 19.07%. Cognizant Technology Solutions’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $0.97 EPS. As a group, sell-side analysts predict that Cognizant Technology Solutions will post 4.51 EPS for the current year.

Insider Activity at Cognizant Technology Solutions

In other news, EVP Andrew J. Stafford sold 5,867 shares of Cognizant Technology Solutions stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $77.24, for a total transaction of $453,167.08. Following the sale, the executive vice president now directly owns 5,872 shares of the company’s stock, valued at $453,553.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Andrew J. Stafford sold 5,867 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of $77.24, for a total transaction of $453,167.08. Following the transaction, the executive vice president now owns 5,872 shares of the company’s stock, valued at approximately $453,553.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Patsalos-Fox sold 5,687 shares of the business’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $74.40, for a total value of $423,112.80. Following the sale, the director now owns 57,534 shares in the company, valued at $4,280,529.60. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cognizant Technology Solutions

Several large investors have recently added to or reduced their stakes in CTSH. Whittier Trust Co. boosted its stake in shares of Cognizant Technology Solutions by 46.5% during the 4th quarter. Whittier Trust Co. now owns 6,332 shares of the information technology service provider’s stock worth $562,000 after acquiring an additional 2,010 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Cognizant Technology Solutions by 7.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,441 shares of the information technology service provider’s stock worth $3,321,000 after buying an additional 2,659 shares during the period. AE Wealth Management LLC grew its position in Cognizant Technology Solutions by 16.9% during the fourth quarter. AE Wealth Management LLC now owns 48,094 shares of the information technology service provider’s stock worth $4,267,000 after buying an additional 6,963 shares during the period. Concord Wealth Partners grew its position in Cognizant Technology Solutions by 204.7% during the fourth quarter. Concord Wealth Partners now owns 1,688 shares of the information technology service provider’s stock worth $150,000 after buying an additional 1,134 shares during the period. Finally, Carnegie Capital Asset Management LLC purchased a new stake in shares of Cognizant Technology Solutions in the fourth quarter valued at about $799,000. 90.73% of the stock is owned by institutional investors.

Cognizant Technology Solutions Company Profile

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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; Healthcare; Products and Resources; and Communications, Media and Technology.

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