Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) had its target price lowered by stock analysts at Morgan Stanley from $90.00 to $75.00 in a research note issued on Friday, The Fly reports. The brokerage presently has an “equal weight” rating on the information technology service provider’s stock. Morgan Stanley’s price objective suggests a potential upside of 8.54% from the stock’s current price.
Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut their target price on Cognizant Technology Solutions from $97.00 to $82.00 in a research report on Wednesday. StockNews.com cut Cognizant Technology Solutions from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 11th. Cowen cut their target price on Cognizant Technology Solutions from $98.00 to $95.00 in a research report on Monday, May 9th. Citigroup cut their target price on Cognizant Technology Solutions from $95.00 to $88.00 in a research report on Thursday, May 5th. Finally, Robert W. Baird dropped their price target on Cognizant Technology Solutions from $94.00 to $84.00 in a research note on Friday, July 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Cognizant Technology Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $87.15.
Cognizant Technology Solutions Stock Performance
Shares of CTSH opened at $69.10 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. The business has a 50-day simple moving average of $69.53 and a two-hundred day simple moving average of $80.31. The stock has a market cap of $36.01 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.39 and a beta of 1.10. Cognizant Technology Solutions has a 52 week low of $63.26 and a 52 week high of $93.47.
Cognizant Technology Solutions (NASDAQ:CTSH – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The information technology service provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. Cognizant Technology Solutions had a return on equity of 19.07% and a net margin of 11.59%. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the prior year, the business posted $0.97 earnings per share. The business’s quarterly revenue was up 9.7% on a year-over-year basis. On average, analysts expect that Cognizant Technology Solutions will post 4.5 EPS for the current year.
Insider Buying and Selling
In related news, EVP Andrew J. Stafford sold 5,867 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 5,872 shares of the company’s stock, valued at approximately $453,553.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Andrew J. Stafford sold 5,867 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 5,872 shares of the company’s stock, valued at approximately $453,553.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Patsalos-Fox sold 5,687 shares of the firm’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $74.40, for a total value of $423,112.80. Following the transaction, 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 owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. MV Capital Management Inc. increased its holdings in shares of Cognizant Technology Solutions by 94.8% in the 4th quarter. MV Capital Management Inc. now owns 302 shares of the information technology service provider’s stock valued at $27,000 after acquiring an additional 147 shares during the period. Cornerstone Advisory LLC acquired a new stake in shares of Cognizant Technology Solutions in the 4th quarter worth $27,000. Hardy Reed LLC acquired a new stake in shares of Cognizant Technology Solutions in the 1st quarter worth $27,000. Fieldpoint Private Securities LLC boosted its position in shares of Cognizant Technology Solutions by 475.4% in the 4th quarter. Fieldpoint Private Securities LLC now owns 397 shares of the information technology service provider’s stock worth $35,000 after purchasing an additional 328 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Cognizant Technology Solutions by 1,433.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 460 shares of the information technology service provider’s stock worth $41,000 after purchasing an additional 430 shares in the last quarter. 90.73% of the stock is currently 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; Healthcare; Products and Resources; and Communications, Media and Technology.
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